HighTower Advisors LLC Boosts Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

HighTower Advisors LLC grew its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 11.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 264,583 shares of the bank’s stock after buying an additional 26,964 shares during the quarter. HighTower Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $4,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC acquired a new position in Sumitomo Mitsui Financial Group in the third quarter valued at $27,000. Northwestern Mutual Wealth Management Co. increased its stake in Sumitomo Mitsui Financial Group by 163.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after acquiring an additional 1,227 shares during the last quarter. NewSquare Capital LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 204.7% in the 2nd quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock worth $31,000 after purchasing an additional 1,363 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 2,443.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,955 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at about $34,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Stock Down 2.1%

NYSE SMFG opened at $22.63 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $24.33. The business has a 50 day moving average price of $21.09 and a two-hundred day moving average price of $18.34. The stock has a market cap of $145.05 billion, a PE ratio of 18.85, a P/E/G ratio of 0.89 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The firm had revenue of $17.71 billion for the quarter, compared to analysts’ expectations of $7.93 billion. As a group, sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average 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.