Sumitomo Mitsui Financial Group Inc $SMFG Stake Boosted by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC boosted its stake in Sumitomo Mitsui Financial Group by 54.1% in the first quarter, adding 53,655 shares and bringing its total to 152,886 shares valued at about $3.0 million.
• Other institutional investors also made small moves in SMFG, and hedge funds and institutions now own about 3.85% of the company’s shares.
• Analyst sentiment is mixed but slightly positive: recent rating changes left SMFG with a Moderate Buy consensus, while the stock was trading near its 12-month high at $25.94, up 0.8% on the day.

Sequoia Financial Advisors LLC increased its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 54.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,886 shares of the bank's stock after acquiring an additional 53,655 shares during the period. Sequoia Financial Advisors LLC's holdings in Sumitomo Mitsui Financial Group were worth $3,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. PFS Partners LLC acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth about $27,000. Ascentis Independent Advisors acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 1st quarter valued at about $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 3rd quarter valued at about $29,000. Sound Income Strategies LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank's stock valued at $30,000 after buying an additional 610 shares in the last quarter. Finally, Bayban bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SMFG shares. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Weiss Ratings upgraded shares of Sumitomo Mitsui Financial Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Finally, Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a "strong-buy" rating to a "hold" rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Sumitomo Mitsui Financial Group Trading Up 0.8%

NYSE:SMFG opened at $25.94 on Tuesday. The company's 50 day moving average is $23.41 and its 200-day moving average is $21.78. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. Sumitomo Mitsui Financial Group Inc has a 12 month low of $14.40 and a 12 month high of $26.03. The firm has a market cap of $165.50 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 0.99 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. The business had revenue of $7.31 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. Equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.87 EPS for the current year.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG's core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group's product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.

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