Goldman Sachs Group Inc. Buys 161,026 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Goldman Sachs Group Inc. grew its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 1.5% in the fourth quarter, Holdings Channel reports. The fund owned 10,997,774 shares of the bank’s stock after acquiring an additional 161,026 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $212,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of SMFG. PFS Partners LLC bought a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. bought a new position in Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC boosted its holdings in Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after buying an additional 610 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Sumitomo Mitsui Financial Group by 163.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after buying an additional 1,227 shares during the period. Finally, Park Square Financial Group LLC boosted its holdings in Sumitomo Mitsui Financial Group by 58.0% in the 4th 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 during the period. 3.85% of the stock is owned by institutional investors.

Sumitomo Mitsui Financial Group Price Performance

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 stock has a market capitalization of $147.63 billion, a PE ratio of 17.27, a P/E/G ratio of 0.63 and a beta of 0.43. The company’s 50 day simple moving average is $21.44 and its two-hundred day simple moving average is $20.66.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. The business had revenue of $7.31 billion for the quarter. On average, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Sumitomo Mitsui Financial Group Company 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.