QRG Capital Management Inc. Has $6.41 Million Stock Position in Sumitomo Mitsui Financial Group Inc $SMFG

QRG Capital Management Inc. lowered its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 18.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 424,036 shares of the bank’s stock after selling 94,537 shares during the period. QRG Capital Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $6,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Private Trust Co. NA increased its holdings in Sumitomo Mitsui Financial Group by 1,044.1% in the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock worth $36,000 after purchasing an additional 2,130 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in Sumitomo Mitsui Financial Group in the 1st quarter worth about $42,000. Geneos Wealth Management Inc. increased its holdings in Sumitomo Mitsui Financial Group by 41.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after purchasing an additional 930 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in Sumitomo Mitsui Financial Group by 823.7% in the 1st quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank’s stock worth $64,000 after purchasing an additional 3,690 shares in the last quarter. Finally, Brooklyn Investment Group increased its holdings in Sumitomo Mitsui Financial Group by 654.7% in the 1st quarter. Brooklyn Investment Group now owns 5,947 shares of the bank’s stock worth $92,000 after purchasing an additional 5,159 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Trading Up 1.7%

NYSE SMFG opened at $16.57 on Monday. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $17.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. The business’s 50-day moving average price is $16.39 and its two-hundred day moving average price is $15.24. The firm has a market capitalization of $106.50 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, beating the consensus estimate 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. On average, analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Analyst Ratings Changes

SMFG has been the subject of a number of recent research reports. Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy”.

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.