Atlas Capital Advisors Inc. Purchases Shares of 27,014 Sumitomo Mitsui Financial Group Inc $SMFG

Atlas Capital Advisors Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 4th quarter, HoldingsChannel reports. The firm purchased 27,014 shares of the bank’s stock, valued at approximately $522,000.

Other institutional investors have also added to or reduced their stakes in the company. PFS Partners LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at about $27,000. Sound Income Strategies LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 76.8% during the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after acquiring an additional 610 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 3,149.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,543 shares during the last quarter. Park Square Financial Group LLC raised its stake in shares of 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 valued at $31,000 after acquiring an additional 598 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Sumitomo Mitsui Financial Group during the third quarter valued at about $29,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Friday, May 22nd. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $24.32 on Tuesday. Sumitomo Mitsui Financial Group Inc has a 1 year low of $14.40 and a 1 year high of $24.60. The company has a market cap of $155.11 billion, a P/E ratio of 18.15, a PEG ratio of 0.66 and a beta of 0.43. The firm has a 50-day moving average of $21.91 and a 200 day moving average of $20.96.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly 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 company had revenue of $7.31 billion during the quarter. On average, equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current fiscal year.

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.