Pinpoint Asset Management Singapore Pte. Ltd. Acquires Shares of 100,000 Sumitomo Mitsui Financial Group Inc $SMFG

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 100,000 shares of the bank’s stock, valued at approximately $1,674,000.

A number of other institutional investors also recently modified their holdings of the company. True Wealth Design LLC purchased a new position in Sumitomo Mitsui Financial Group during the 3rd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Sumitomo Mitsui Financial Group by 163.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after buying an additional 1,227 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 2nd quarter worth approximately $34,000. Salomon & Ludwin LLC grew its position 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 worth $34,000 after buying an additional 1,955 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the second quarter valued at approximately $39,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

Shares of Sumitomo Mitsui Financial Group stock opened at $20.10 on Monday. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $24.33. The firm has a market capitalization of $128.22 billion, a P/E ratio of 16.75, a P/E/G ratio of 0.78 and a beta of 0.33. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $21.43 and a two-hundred day simple moving average of $18.62.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $17.71 billion during the quarter, compared to analysts’ expectations of $7.93 billion. On average, equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on SMFG shares. Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Finally, 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. One research 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’s stock. Based on data from MarketBeat, the company presently 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.