First Trust Advisors LP Acquires 53,666 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

First Trust Advisors LP lifted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 38.2% in the 1st quarter, HoldingsChannel reports. The firm owned 193,986 shares of the bank’s stock after acquiring an additional 53,666 shares during the period. First Trust Advisors LP’s holdings in Sumitomo Mitsui Financial Group were worth $3,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ferguson Wellman Capital Management Inc. bought a new position in shares of Sumitomo Mitsui Financial Group in the first quarter worth about $33,801,000. Jane Street Group LLC raised its stake in Sumitomo Mitsui Financial Group by 1,246.6% during the 4th quarter. Jane Street Group LLC now owns 1,318,753 shares of the bank’s stock worth $25,491,000 after acquiring an additional 1,220,821 shares during the period. Voloridge Investment Management LLC purchased a new position in Sumitomo Mitsui Financial Group during the third quarter valued at approximately $14,018,000. Orion Porfolio Solutions LLC lifted its holdings in Sumitomo Mitsui Financial Group by 606.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock valued at $10,724,000 after purchasing an additional 609,212 shares in the last quarter. Finally, Massar Capital Management LP bought a new position in shares of Sumitomo Mitsui Financial Group in the second quarter worth approximately $7,555,000. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG opened at $25.38 on Thursday. The firm has a market cap of $161.97 billion, a price-to-earnings ratio of 17.62, a price-to-earnings-growth ratio of 0.95 and a beta of 0.42. The company has a quick ratio of 1.06, a current ratio of 1.05 and a debt-to-equity ratio of 1.65. The business has a 50-day moving average price of $24.61 and a 200-day moving average price of $22.47. Sumitomo Mitsui Financial Group Inc has a twelve month low of $15.18 and a twelve month high of $26.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Tuesday, June 30th. The bank reported $0.49 earnings per share (EPS) for the quarter. The firm had revenue of $8.71 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%. As a group, equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 1.86 EPS for the current fiscal year.

Analyst Ratings Changes

SMFG has been the subject of a number of analyst reports. 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 note on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Strong Buy”.

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.