Summit Global Investments Has $491,000 Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Summit Global Investments lowered its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 68.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 32,487 shares of the bank’s stock after selling 71,810 shares during the period. Summit Global Investments’ holdings in Sumitomo Mitsui Financial Group were worth $491,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Sumitomo Mitsui Financial Group by 20.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 579,277 shares of the bank’s stock worth $8,956,000 after acquiring an additional 96,494 shares during the period. Park Avenue Securities LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 13.4% in the second quarter. Park Avenue Securities LLC now owns 221,149 shares of the bank’s stock valued at $3,342,000 after purchasing an additional 26,173 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Sumitomo Mitsui Financial Group by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank’s stock worth $174,255,000 after purchasing an additional 53,612 shares during the period. Cordatus Wealth Management LLC bought a new position in Sumitomo Mitsui Financial Group in the first quarter worth $570,000. Finally, Allianz SE acquired a new stake in Sumitomo Mitsui Financial Group during the first quarter worth $3,401,000. Institutional investors own 3.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SMFG. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. 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. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Up 1.4%

Shares of NYSE:SMFG opened at $17.39 on Wednesday. The company’s fifty day moving average is $16.44 and its 200-day moving average is $15.85. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a 52 week low of $11.83 and a 52 week high of $17.58. The company has a market capitalization of $111.80 billion, a PE ratio of 18.31, a P/E/G ratio of 0.78 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.19. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $7.41 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. Equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Sumitomo Mitsui Financial Group Profile

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.