Versant Capital Management Inc Buys 30,741 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Versant Capital Management Inc boosted its position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 1,473.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,827 shares of the bank's stock after buying an additional 30,741 shares during the quarter. Versant Capital Management Inc's holdings in Sumitomo Mitsui Financial Group were worth $508,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC bought a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $34,000. Jefferies Financial Group Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 7.6% in the fourth quarter. Jefferies Financial Group Inc. now owns 18,311 shares of the bank's stock valued at $265,000 after purchasing an additional 1,290 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth about $25,000. Forum Financial Management LP raised its holdings in Sumitomo Mitsui Financial Group by 15.0% in the 4th quarter. Forum Financial Management LP now owns 222,120 shares of the bank's stock valued at $3,219,000 after acquiring an additional 28,997 shares during the period. Finally, Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $3,508,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG traded down $0.02 during trading hours on Wednesday, reaching $15.34. The stock had a trading volume of 789,011 shares, compared to its average volume of 1,465,142. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group, Inc. has a 12 month low of $10.74 and a 12 month high of $16.74. The stock has a market capitalization of $99.31 billion, a PE ratio of 14.89, a PEG ratio of 2.36 and a beta of 0.40. The company's 50-day moving average is $14.12 and its two-hundred day moving average is $14.66.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly 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). Sumitomo Mitsui Financial Group had a return on equity of 8.52% and a net margin of 12.61%. The business had revenue of $16.55 billion for the quarter. Research analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS for the current year.

About Sumitomo Mitsui Financial Group

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.