Natixis Advisors L.P. reduced its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Free Report) by 1.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 701,683 shares of the bank’s stock after selling 10,590 shares during the period. Natixis Advisors L.P.’s holdings in Sumitomo Mitsui Financial Group were worth $5,613,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Sumitomo Mitsui Financial Group by 335.5% during the 1st quarter. UMB Bank n.a. now owns 3,205 shares of the bank’s stock worth $26,000 after acquiring an additional 2,469 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Sumitomo Mitsui Financial Group during the 1st quarter worth $31,000. Fortis Capital Advisors LLC purchased a new position in Sumitomo Mitsui Financial Group during the 4th quarter worth $37,000. Glassman Wealth Services increased its holdings in Sumitomo Mitsui Financial Group by 38.5% during the 1st quarter. Glassman Wealth Services now owns 5,036 shares of the bank’s stock worth $40,000 after purchasing an additional 1,399 shares during the period. Finally, Neuberger Berman Group LLC purchased a new position in Sumitomo Mitsui Financial Group during the 3rd quarter worth $55,000. 1.62% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have commented on SMFG. StockNews.com began coverage on Sumitomo Mitsui Financial Group in a report on Thursday, August 17th. They set a “hold” rating on the stock. The Goldman Sachs Group downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th.
Sumitomo Mitsui Financial Group Trading Up 0.4 %
SMFG opened at $9.10 on Thursday. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $5.39 and a 52 week high of $9.58. The stock’s fifty day moving average is $8.86 and its two-hundred day moving average is $8.50. The company has a market capitalization of $60.86 billion, a P/E ratio of 10.58, a PEG ratio of 1.94 and a beta of 0.69. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 2.08.
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last announced its quarterly earnings results on Monday, July 31st. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Sumitomo Mitsui Financial Group had a return on equity of 6.62% and a net margin of 11.19%. The business had revenue of $16.56 billion for the quarter. Analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.88 earnings per share for the current year.
Sumitomo Mitsui Financial Group Profile
Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.
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