Oppenheimer Asset Management Inc. Has $756,000 Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Oppenheimer Asset Management Inc. boosted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 155.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,167 shares of the bank’s stock after purchasing an additional 27,481 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $756,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. True Wealth Design LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the third quarter worth $27,000. Northwestern Mutual Wealth Management Co. increased 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 purchasing an additional 1,227 shares in the last quarter. NewSquare Capital LLC increased its holdings in Sumitomo Mitsui Financial Group by 204.7% in the 2nd quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock worth $31,000 after purchasing an additional 1,363 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in Sumitomo Mitsui Financial Group in the second quarter valued at about $34,000. Finally, Salomon & Ludwin LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 2,443.8% during the third quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,955 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG opened at $23.80 on Monday. The business has a 50-day moving average of $20.51 and a 200-day moving average of $17.96. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $152.55 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 0.92 and a beta of 0.36. Sumitomo Mitsui Financial Group Inc has a 1 year low of $11.83 and a 1 year high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The company had revenue of $17.71 billion during the quarter, compared to the consensus estimate of $7.93 billion. As a group, equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SMFG. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

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.