Sumitomo Mitsui Financial Group Inc $SMFG Position Reduced by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 54.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 537,443 shares of the bank’s stock after selling 653,123 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sumitomo Mitsui Financial Group were worth $8,997,000 as of its most recent filing with the SEC.

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

Sumitomo Mitsui Financial Group Trading Up 0.0%

Shares of NYSE SMFG opened at $19.06 on Monday. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $24.33. The company has a market cap of $121.55 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 0.74 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. The stock’s 50 day simple moving average is $21.28 and its 200 day simple moving average is $18.94.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings data on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%.The company had revenue of $7.27 billion for the quarter, compared to the consensus estimate of $7.93 billion. Equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a report on Monday, March 16th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

About Sumitomo Mitsui Financial Group

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.