CIBC Asset Management Inc Acquires 66,651 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

CIBC Asset Management Inc grew its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 76.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,883 shares of the bank’s stock after purchasing an additional 66,651 shares during the period. CIBC Asset Management Inc’s holdings in Sumitomo Mitsui Financial Group were worth $2,911,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SMFG. AQR Capital Management LLC raised its position in shares of Sumitomo Mitsui Financial Group by 26.0% in the first quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after purchasing an additional 36,522 shares during the period. Focus Partners Wealth grew its stake in Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock valued at $282,000 after acquiring an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Sumitomo Mitsui Financial Group by 41.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock valued at $49,000 after acquiring an additional 930 shares in the last quarter. Acadian Asset Management LLC grew its stake in Sumitomo Mitsui Financial Group by 336.4% during the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after acquiring an additional 30,506 shares in the last quarter. Finally, Sivia Capital Partners LLC grew its stake in Sumitomo Mitsui Financial Group by 43.9% during the second quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after acquiring an additional 9,876 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SMFG. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Friday, May 22nd. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Sumitomo Mitsui Financial Group has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $23.14 on Monday. Sumitomo Mitsui Financial Group Inc has a one year low of $14.40 and a one year high of $24.33. The stock has a market cap of $147.63 billion, a PE ratio of 17.27, a P/E/G ratio of 0.63 and a beta of 0.43. The firm has a 50 day simple moving average of $21.44 and a two-hundred day simple moving average of $20.68.

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

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.