Simon Quick Advisors LLC Buys 6,924 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Simon Quick Advisors LLC boosted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 35.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,256 shares of the bank’s stock after acquiring an additional 6,924 shares during the period. Simon Quick Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $397,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SMFG. Natixis Advisors LLC boosted its holdings in Sumitomo Mitsui Financial Group by 59.8% in the first quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank’s stock valued at $22,250,000 after acquiring an additional 538,823 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 19.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock valued at $34,789,000 after acquiring an additional 378,909 shares during the last quarter. Allianz SE bought a new stake in Sumitomo Mitsui Financial Group in the first quarter valued at approximately $3,401,000. Myriad Asset Management US LP bought a new stake in Sumitomo Mitsui Financial Group in the second quarter valued at approximately $2,561,000. Finally, Northern Trust Corp boosted its holdings in Sumitomo Mitsui Financial Group by 3.2% in the first quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock valued at $80,219,000 after acquiring an additional 159,320 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $16.31 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $17.46. The stock’s 50 day moving average is $16.39 and its 200-day moving average is $15.51. The firm has a market capitalization of $104.83 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.78 and a beta of 0.37.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The company had revenue of $16.41 billion for the quarter, compared to analyst estimates of $1,094.67 billion. Sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

SMFG has been the topic of several analyst reports. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy”.

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.