Tudor Investment Corp ET AL Buys 490,891 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Tudor Investment Corp boosted its stake in Sumitomo Mitsui Financial Group by 112.5% in Q3, buying an additional 490,891 shares to hold 927,179 shares worth about $15.52 million.
• Several other large institutions—including Northern Trust, Dimensional Fund Advisors, American Century, Bank of America and Fisher Asset Management—also increased their SMFG positions during the quarter.
• SMFG reported an EPS miss ($0.16 vs. $0.40 est.) but trades with a market cap of $121.56 billion and a P/E of 15.88, and carries a MarketBeat consensus rating of “Moderate Buy”.

Tudor Investment Corp ET AL boosted its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 112.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 927,179 shares of the bank's stock after acquiring an additional 490,891 shares during the quarter. Tudor Investment Corp ET AL's holdings in Sumitomo Mitsui Financial Group were worth $15,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SMFG. Northern Trust Corp lifted its position in Sumitomo Mitsui Financial Group by 2.6% in the third quarter. Northern Trust Corp now owns 5,743,128 shares of the bank's stock valued at $96,140,000 after purchasing an additional 147,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sumitomo Mitsui Financial Group by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,886,033 shares of the bank's stock valued at $48,312,000 after purchasing an additional 9,022 shares during the period. American Century Companies Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 16.9% in the third quarter. American Century Companies Inc. now owns 2,036,709 shares of the bank's stock worth $34,095,000 after purchasing an additional 294,124 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Sumitomo Mitsui Financial Group by 4.4% in the second quarter. Bank of America Corp DE now owns 1,921,712 shares of the bank's stock worth $29,037,000 after purchasing an additional 81,103 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 12.3% in the third quarter. Fisher Asset Management LLC now owns 1,524,435 shares of the bank's stock worth $25,519,000 after buying an additional 167,242 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG stock opened at $19.06 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $24.33. The firm has a market cap of $121.56 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.74 and a beta of 0.34. The business's 50 day moving average price is $21.42 and its 200-day moving average price is $18.82.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The business had revenue of $17.71 billion for the quarter, compared to the consensus estimate of $7.93 billion. On average, equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on SMFG. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of "Moderate Buy".

Sumitomo Mitsui Financial Group 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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