Gradient Investments LLC boosted its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG – Free Report) by 24.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 43,326 shares of the bank’s stock after acquiring an additional 8,508 shares during the quarter. Gradient Investments LLC’s holdings in Sumitomo Mitsui Financial Group were worth $655,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at $25,000. Private Trust Co. NA raised its holdings in Sumitomo Mitsui Financial Group by 1,044.1% during the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock valued at $36,000 after buying an additional 2,130 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Sumitomo Mitsui Financial Group during the 4th quarter valued at $34,000. Financial Management Professionals Inc. increased its position in Sumitomo Mitsui Financial Group by 88.3% during the 1st quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank’s stock valued at $37,000 after purchasing an additional 1,127 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in Sumitomo Mitsui Financial Group during the 1st quarter valued at $42,000. 3.85% of the stock is currently owned by institutional investors.
Get Sumitomo Mitsui Financial Group alerts:
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on SMFG shares. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Finally, Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, According to MarketBeat.com, Sumitomo Mitsui Financial Group currently has a consensus rating of “Strong Buy”.
Read Our Latest Research Report on SMFG
Sumitomo Mitsui Financial Group Stock Down 1.1%
NYSE:SMFG opened at $16.58 on Wednesday. The firm’s 50-day moving average price is $15.96 and its 200-day moving average price is $15.14. The company has a market capitalization of $106.59 billion, a PE ratio of 17.45, a P/E/G ratio of 0.81 and a beta of 0.39. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $17.46.
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last released its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. The firm had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. On average, equities analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.
About Sumitomo Mitsui Financial Group
(Free Report)
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.
Further Reading
Five stocks we like better than Sumitomo Mitsui Financial Group
Why Understanding Call Option Volume is Essential to Successful Options Trading
Is It Time to Trim Your Positions in These 2 AI Stocks?
How to Invest in the FAANG Stocks
These 3 Tech Stocks Just Supercharged Their Buybacks
Most Volatile Stocks, What Investors Need to Know
3 Dividend Stocks to Hold Through Market Volatility This Fall
Want to see what other hedge funds are holding SMFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sumitomo Mitsui Financial Group Inc (NYSE:SMFG – Free Report).