Summit Global Investments Purchases 65,641 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Summit Global Investments boosted its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 169.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,297 shares of the bank's stock after buying an additional 65,641 shares during the period. Summit Global Investments' holdings in Sumitomo Mitsui Financial Group were worth $1,612,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new position in Sumitomo Mitsui Financial Group during the 4th quarter valued at approximately $25,000. Bessemer Group Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after purchasing an additional 1,119 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth $34,000. TD Waterhouse Canada Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank's stock worth $45,000 after purchasing an additional 2,963 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 36.8% in the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock worth $51,000 after purchasing an additional 940 shares in the last quarter. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Down 0.8%

Shares of Sumitomo Mitsui Financial Group stock traded down $0.12 on Tuesday, reaching $15.34. The company's stock had a trading volume of 447,359 shares, compared to its average volume of 1,813,305. The company has a market capitalization of $99.31 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 2.36 and a beta of 0.40. The firm's fifty day simple moving average is $14.14 and its two-hundred day simple moving average is $14.66. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $10.74 and a 52 week high of $16.74. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). The business had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 8.52% and a net margin of 12.61%. Equities analysts anticipate that Sumitomo Mitsui Financial Group, Inc. will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.