CCM Investment Advisers LLC Buys Shares of 305,762 Sumitomo Mitsui Financial Group Inc $SMFG

CCM Investment Advisers LLC bought a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 1st quarter, Holdings Channel reports. The firm bought 305,762 shares of the bank’s stock, valued at approximately $6,039,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $33,801,000. Tudor Investment Corp ET AL grew its position in shares of Sumitomo Mitsui Financial Group by 112.5% in the third quarter. Tudor Investment Corp ET AL now owns 927,179 shares of the bank’s stock valued at $15,521,000 after purchasing an additional 490,891 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Sumitomo Mitsui Financial Group by 14.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 736,467 shares of the bank’s stock valued at $14,236,000 after buying an additional 93,024 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Sumitomo Mitsui Financial Group by 54.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 152,886 shares of the bank’s stock valued at $3,019,000 after purchasing an additional 53,655 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the first quarter worth about $3,659,000. Institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SMFG shares. Weiss Ratings raised Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Sumitomo Mitsui Financial Group Trading Up 3.2%

SMFG opened at $25.75 on Friday. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.06 and a current ratio of 1.06. Sumitomo Mitsui Financial Group Inc has a one year low of $14.92 and a one year high of $26.67. The company has a market cap of $164.30 billion, a P/E ratio of 19.22, a PEG ratio of 0.96 and a beta of 0.42. The business’s 50-day simple moving average is $24.40 and its 200-day simple moving average is $22.34.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. The business had revenue of $7.31 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%. As a group, equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.86 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.