Quadrant Capital Group LLC Trims Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Quadrant Capital Group LLC lessened its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 2.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 277,252 shares of the bank’s stock after selling 7,510 shares during the quarter. Quadrant Capital Group LLC’s holdings in Sumitomo Mitsui Financial Group were worth $4,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SMFG. Westfield Capital Management Co. LP purchased a new stake in shares of Sumitomo Mitsui Financial Group in the 2nd quarter worth about $8,188,000. Natixis Advisors LLC increased its position in Sumitomo Mitsui Financial Group by 59.8% during the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank’s stock valued at $22,250,000 after buying an additional 538,823 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 19.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock worth $34,789,000 after acquiring an additional 378,909 shares in the last quarter. Allianz SE purchased a new stake in shares of Sumitomo Mitsui Financial Group in the first quarter worth $3,401,000. Finally, Myriad Asset Management US LP purchased a new stake in shares of Sumitomo Mitsui Financial Group in the second quarter worth $2,561,000. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Price Performance

SMFG opened at $17.87 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. The company’s 50-day simple moving average is $16.46 and its two-hundred day simple moving average is $15.86. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $17.93. The stock has a market capitalization of $114.85 billion, a P/E ratio of 18.81, a P/E/G ratio of 0.78 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Friday, November 14th. The bank reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. As a group, analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMFG. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Wednesday, October 8th. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Sumitomo Mitsui Financial Group has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Company 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.