Sumitomo Mitsui Financial Group Inc $SMFG Stock Holdings Boosted by Gradient Investments LLC

Gradient Investments LLC increased its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 48.4% during the fourth quarter, Holdings Channel reports. The fund owned 108,832 shares of the bank’s stock after purchasing an additional 35,482 shares during the quarter. Gradient Investments LLC’s holdings in Sumitomo Mitsui Financial Group were worth $2,104,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC bought a new position in Sumitomo Mitsui Financial Group in the 3rd quarter worth about $27,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Sumitomo Mitsui Financial Group in the third quarter valued at approximately $29,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Sumitomo Mitsui Financial Group by 163.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after buying an additional 1,227 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Sumitomo Mitsui Financial Group by 225.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 1,919 shares of the bank’s stock valued at $32,000 after buying an additional 1,329 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the third quarter worth approximately $32,000. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Stock Up 2.5%

SMFG stock opened at $19.56 on Tuesday. Sumitomo Mitsui Financial Group Inc has a 52 week low of $11.83 and a 52 week high of $24.33. The company has a market capitalization of $124.75 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 0.74 and a beta of 0.33. The firm’s 50-day moving average is $21.41 and its two-hundred day moving average is $18.86. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.24). The company had revenue of $17.71 billion during the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. On average, analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SMFG shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Zacks Research raised Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group currently has an average 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.