Sumitomo Mitsui Financial Group Inc $SMFG Stock Holdings Lifted by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. boosted its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 3.6% during the 4th quarter, HoldingsChannel reports. The firm owned 710,653 shares of the bank’s stock after purchasing an additional 24,383 shares during the period. Sumitomo Mitsui Financial Group comprises about 1.8% of Ramirez Asset Management Inc.’s investment portfolio, making the stock its 6th biggest position. Ramirez Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $13,737,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. lifted its position in shares of Sumitomo Mitsui Financial Group by 1.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,997,774 shares of the bank’s stock valued at $212,587,000 after buying an additional 161,026 shares in the last quarter. Northern Trust Corp lifted its holdings in Sumitomo Mitsui Financial Group by 2.6% in the 3rd quarter. Northern Trust Corp now owns 5,743,128 shares of the bank’s stock worth $96,140,000 after purchasing an additional 147,963 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Sumitomo Mitsui Financial Group by 0.3% in the 3rd 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 last quarter. American Century Companies Inc. increased its stake in Sumitomo Mitsui Financial Group by 16.9% in 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 during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Sumitomo Mitsui Financial Group by 4.4% in 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 acquiring an additional 81,103 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Trading Down 1.9%

SMFG opened at $23.14 on Friday. Sumitomo Mitsui Financial Group Inc has a 12-month low of $14.40 and a 12-month high of $24.33. The business’s fifty day simple moving average is $21.44 and its 200-day simple moving average is $20.66. The company has a market capitalization of $147.63 billion, a price-to-earnings ratio of 17.27, a PEG ratio of 0.64 and a beta of 0.43.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.57% and a net margin of 15.68%.The business had revenue of $7.31 billion for the quarter. On average, equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

SMFG has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Friday, May 22nd. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “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.