Tudor Investment Corp ET AL Grows Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Tudor Investment Corp ET AL raised its stake in Sumitomo Mitsui Financial Group by 112.5% in Q3, purchasing 490,891 additional shares to hold 927,179 shares valued at about $15.52 million.
• Sumitomo Mitsui missed quarterly estimates, reporting $0.16 EPS and $7.27 billion in revenue versus consensus $0.40 and $7.93 billion, while the stock trades near $20.43 with a market cap of ~$130.3 billion and a MarketBeat consensus rating of "Moderate Buy".
• Other institutional investors including Northern Trust, American Century and Fisher Asset Management also increased positions during the quarter, with institutional ownership reported at 3.85%.

Tudor Investment Corp ET AL raised its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 112.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 927,179 shares of the bank's stock after purchasing an additional 490,891 shares during the period. 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 & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp increased its stake in shares of Sumitomo Mitsui Financial Group by 2.6% during the third quarter. Northern Trust Corp now owns 5,743,128 shares of the bank's stock valued at $96,140,000 after buying an additional 147,963 shares during the period. Dimensional Fund Advisors LP lifted its stake in Sumitomo Mitsui Financial Group by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,886,033 shares of the bank's stock worth $48,312,000 after acquiring an additional 9,022 shares during the period. American Century Companies Inc. grew its holdings in Sumitomo Mitsui Financial Group by 16.9% during the 3rd quarter. American Century Companies Inc. now owns 2,036,709 shares of the bank's stock worth $34,095,000 after acquiring an additional 294,124 shares in the last quarter. Bank of America Corp DE increased its position in Sumitomo Mitsui Financial Group by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 1,921,712 shares of the bank's stock valued at $29,037,000 after purchasing an additional 81,103 shares during the period. Finally, Fisher Asset Management LLC increased its position in Sumitomo Mitsui Financial Group by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 1,524,435 shares of the bank's stock valued at $25,519,000 after purchasing an additional 167,242 shares during the period. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG stock opened at $20.43 on Friday. The stock's 50-day moving average is $21.20 and its 200 day moving average is $19.04. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $24.33. The company has a market cap of $130.29 billion, a P/E ratio of 17.02, a PEG ratio of 0.71 and a beta of 0.40.

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). The firm had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. On average, analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SMFG shares. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. 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 reissued a "hold (c+)" rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of "Moderate Buy".

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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