Sumitomo Mitsui Financial Group Inc $SMFG Shares Acquired by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 27.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,653 shares of the bank’s stock after acquiring an additional 74,018 shares during the quarter. QRG Capital Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $6,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SMFG. PFS Partners LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $27,000. Sound Income Strategies LLC raised its position in Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the period. Bayban acquired a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth $30,000. Cornerstone Planning Group LLC lifted its stake in Sumitomo Mitsui Financial Group by 3,149.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank’s stock worth $33,000 after purchasing an additional 1,543 shares in the last quarter. Finally, Park Square Financial Group LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 58.0% during the fourth quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after buying an additional 598 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SMFG has been the subject of several recent research reports. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings upgraded shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $24.55 on Monday. Sumitomo Mitsui Financial Group Inc has a 12 month low of $14.40 and a 12 month high of $25.35. The firm has a market capitalization of $156.58 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.66 and a beta of 0.42. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06. The company’s fifty day moving average price is $22.82 and its 200 day moving average price is $21.51.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%.The firm had revenue of $7.31 billion for the quarter. As a group, sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current fiscal year.

Sumitomo Mitsui Financial Group Company 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.