Sumitomo Mitsui Financial Group Inc $SMFG is Ramirez Asset Management Inc.’s 6th Largest Position

Ramirez Asset Management Inc. increased its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 710,653 shares of the bank’s stock after acquiring an additional 24,383 shares during the quarter. Sumitomo Mitsui Financial Group comprises approximately 1.8% of Ramirez Asset Management Inc.’s portfolio, making the stock its 6th biggest position. Ramirez Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $13,737,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMFG. PFS Partners LLC purchased a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in Sumitomo Mitsui Financial Group in the third quarter worth $29,000. Northwestern Mutual Wealth Management Co. lifted its stake in Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after acquiring an additional 1,227 shares during the period. Sound Income Strategies LLC lifted its stake in 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 period. Finally, Park Square Financial Group LLC lifted its stake in Sumitomo Mitsui Financial Group by 58.0% in the fourth quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after acquiring an additional 598 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SMFG shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Friday, May 22nd. Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Sumitomo Mitsui Financial Group currently has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $23.14 on Friday. Sumitomo Mitsui Financial Group Inc has a 1-year low of $14.40 and a 1-year high of $24.33. The business has a fifty day moving average price of $21.44 and a 200-day moving average price of $20.66. The company has a market capitalization of $147.63 billion, a PE ratio of 17.27, a PEG ratio of 0.64 and a beta of 0.43.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued 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 return on equity of 10.57% and a net margin of 15.68%.The firm had revenue of $7.31 billion during the quarter. On average, sell-side analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current fiscal year.

About Sumitomo Mitsui Financial Group

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.