Entropy Technologies LP Purchases New Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Entropy Technologies LP acquired a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 26,573 shares of the bank’s stock, valued at approximately $525,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Modern Wealth Management LLC raised its holdings in Sumitomo Mitsui Financial Group by 3.1% during the 1st quarter. Modern Wealth Management LLC now owns 16,042 shares of the bank’s stock worth $332,000 after purchasing an additional 482 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake in shares of 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 purchasing an additional 530 shares during the last quarter. Park Square Financial Group LLC boosted its stake in shares of 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 valued at $31,000 after purchasing an additional 598 shares during the last quarter. 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 worth $30,000 after buying an additional 610 shares during the last quarter. Finally, Traveka Wealth LLC lifted its holdings in Sumitomo Mitsui Financial Group by 2.3% in the first quarter. Traveka Wealth LLC now owns 26,726 shares of the bank’s stock valued at $528,000 after buying an additional 613 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. 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, July 1st. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Sumitomo Mitsui Financial Group Trading Down 2.4%

NYSE:SMFG opened at $24.96 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. Sumitomo Mitsui Financial Group Inc has a 1-year low of $14.92 and a 1-year high of $26.67. The firm has a market capitalization of $159.26 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 0.98 and a beta of 0.42. The business’s 50-day moving average price is $24.34 and its two-hundred day moving average price is $22.30.

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. The company had revenue of $7.31 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%. On average, equities analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.86 earnings per share for the current 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.