Sumitomo Mitsui Financial Group Inc $SMFG Shares Purchased by Ramirez Asset Management Inc.

Ramirez Asset Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 35.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 686,270 shares of the bank’s stock after purchasing an additional 180,399 shares during the quarter. Sumitomo Mitsui Financial Group comprises 1.6% of Ramirez Asset Management Inc.’s portfolio, making the stock its 8th largest holding. Ramirez Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $11,488,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in Sumitomo Mitsui Financial Group by 137.4% during the second quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank’s stock valued at $20,507,000 after buying an additional 785,443 shares in the last quarter. Orion Porfolio Solutions LLC grew its holdings in Sumitomo Mitsui Financial Group by 606.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock worth $10,724,000 after acquiring an additional 609,212 shares during the period. Westfield Capital Management Co. LP bought a new stake in Sumitomo Mitsui Financial Group in the second quarter worth about $8,188,000. Massar Capital Management LP bought a new stake in Sumitomo Mitsui Financial Group in the second quarter worth about $7,555,000. Finally, Osaic Holdings Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 846.2% in the 2nd quarter. Osaic Holdings Inc. now owns 548,474 shares of the bank’s stock valued at $8,465,000 after acquiring an additional 490,506 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

SMFG opened at $20.10 on Friday. The stock has a fifty day moving average price of $21.43 and a 200 day moving average price of $18.59. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. Sumitomo Mitsui Financial Group Inc has a 1 year low of $11.83 and a 1 year high of $24.33. The stock has a market cap of $128.22 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.79 and a beta of 0.34.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $17.71 billion during the quarter, compared to analyst estimates of $7.93 billion. Analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SMFG shares. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Finally, Zacks Research cut shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group 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.