Sumitomo Mitsui Financial Group Inc $SMFG Shares Bought by QRG Capital Management Inc.

QRG Capital Management Inc. increased its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 27.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 345,653 shares of the bank’s stock after purchasing an additional 74,018 shares during the quarter. QRG Capital Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $6,827,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SMFG. Bridgewater Advisors Inc. lifted its stake in Sumitomo Mitsui Financial Group by 2.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock valued at $513,000 after buying an additional 530 shares in the last quarter. Park Square Financial Group LLC increased its position in Sumitomo Mitsui Financial Group by 58.0% during the fourth quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after buying an additional 598 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after acquiring an additional 610 shares during the last quarter. Traveka Wealth LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 2.3% in the first quarter. Traveka Wealth LLC now owns 26,726 shares of the bank’s stock worth $528,000 after acquiring an additional 613 shares during the last quarter. Finally, Anchyra Partners LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 4.5% during the 1st quarter. Anchyra Partners LLC now owns 14,329 shares of the bank’s stock worth $283,000 after purchasing an additional 620 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Trading Up 0.1%

NYSE SMFG opened at $24.55 on Monday. The firm has a market capitalization of $156.58 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 0.66 and a beta of 0.42. 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 $14.40 and a one year high of $25.35. The company’s 50 day moving average price is $22.82 and its 200 day moving average price is $21.51.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The firm had revenue of $7.31 billion during the quarter. On average, sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current year.

Analyst Upgrades and Downgrades

SMFG has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Zacks Research downgraded Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group 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.