43,534 Shares in Sumitomo Mitsui Financial Group Inc $SMFG Bought by Tred Avon Family Wealth LLC

Tred Avon Family Wealth LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 43,534 shares of the bank’s stock, valued at approximately $729,000.

Other large investors have also recently made changes to their positions in the company. 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 acquiring an additional 26,173 shares during the period. Osaic Holdings Inc. grew its holdings in Sumitomo Mitsui Financial Group by 846.2% during the 2nd quarter. Osaic Holdings Inc. now owns 548,474 shares of the bank’s stock valued at $8,465,000 after purchasing an additional 490,506 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Sumitomo Mitsui Financial Group in the second quarter worth about $267,000. Haven Private LLC bought a new stake in Sumitomo Mitsui Financial Group in the second quarter worth about $341,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 19.7% during the second quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock valued at $34,789,000 after buying an additional 378,909 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Stock Down 0.2%

NYSE:SMFG opened at $21.32 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.04 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $21.54. The company has a 50-day moving average of $18.79 and a 200 day moving average of $17.01. The firm has a market cap of $136.69 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 1.12 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Friday, November 14th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a net margin of 13.80% and a return on equity of 9.14%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $7.41 billion. As a group, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SMFG. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Hold”.

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.