Sequoia Financial Advisors LLC Purchases 53,655 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Sequoia Financial Advisors LLC grew its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 54.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 152,886 shares of the bank’s stock after buying an additional 53,655 shares during the period. Sequoia Financial Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $3,019,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. PFS Partners LLC acquired a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth $27,000. Ascentis Independent Advisors acquired a new position in Sumitomo Mitsui Financial Group in the first quarter valued at about $27,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter valued at approximately $29,000. Sound Income Strategies LLC increased its stake in Sumitomo Mitsui Financial Group by 76.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after purchasing an additional 610 shares in the last quarter. Finally, Bayban bought a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $30,000. Institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on SMFG shares. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Up 0.8%

Shares of SMFG stock opened at $25.94 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. Sumitomo Mitsui Financial Group Inc has a 1 year low of $14.40 and a 1 year high of $26.03. The firm’s fifty day moving average price is $23.41 and its two-hundred day moving average price is $21.78. The firm has a market capitalization of $165.50 billion, a P/E ratio of 19.36, a PEG ratio of 0.99 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The company had revenue of $7.31 billion during the quarter. On average, equities analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.87 EPS 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.