Summit Global Investments Makes New Investment in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Summit Global Investments bought a new stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,656 shares of the bank’s stock, valued at approximately $560,000.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth $30,000. Richardson Financial Services Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 36.8% during the fourth quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank’s stock worth $51,000 after acquiring an additional 940 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 29.5% in the fourth quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank’s stock worth $79,000 after acquiring an additional 1,239 shares in the last quarter. Sierra Ocean LLC purchased a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at about $86,000. Finally, Parkside Financial Bank & Trust grew its stake in Sumitomo Mitsui Financial Group by 32.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank’s stock valued at $115,000 after purchasing an additional 1,968 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Trading Down 2.1 %

SMFG opened at $16.37 on Tuesday. The stock has a market capitalization of $105.95 billion, a PE ratio of 15.89, a P/E/G ratio of 2.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05. Sumitomo Mitsui Financial Group, Inc. has a 12-month low of $10.74 and a 12-month high of $16.74. The firm’s fifty day moving average price is $15.23 and its 200 day moving average price is $14.19.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Friday.

About Sumitomo Mitsui Financial Group

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.