Vestmark Advisory Solutions Inc. Invests $242,000 in Sumitomo Mitsui Financial Group Inc $SMFG

Vestmark Advisory Solutions Inc. bought a new stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the second quarter, HoldingsChannel reports. The firm bought 16,024 shares of the bank’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Savant Capital LLC raised its stake in Sumitomo Mitsui Financial Group by 7.0% during the second quarter. Savant Capital LLC now owns 25,117 shares of the bank’s stock worth $380,000 after acquiring an additional 1,650 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 176.2% in the second quarter. First Horizon Advisors Inc. now owns 7,727 shares of the bank’s stock valued at $117,000 after buying an additional 4,929 shares during the period. NewSquare Capital LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 204.7% during the 2nd quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,363 shares in the last quarter. Bank of Montreal Can grew its position in Sumitomo Mitsui Financial Group by 3.8% in the second quarter. Bank of Montreal Can now owns 110,197 shares of the bank’s stock worth $1,665,000 after buying an additional 4,036 shares during the last quarter. Finally, Mission Wealth Management LP raised its position in shares of Sumitomo Mitsui Financial Group by 3.3% during the second quarter. Mission Wealth Management LP now owns 58,132 shares of the bank’s stock worth $878,000 after purchasing an additional 1,834 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Stock Performance

SMFG stock opened at $16.72 on Thursday. The firm has a 50 day moving average of $16.37 and a two-hundred day moving average of $15.65. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $17.46. The company has a market capitalization of $107.46 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 0.78 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SMFG. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. 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, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.