ABC Arbitrage SA Acquires 37,878 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

ABC Arbitrage SA grew its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 41.0% in the 4th quarter, Holdings Channel reports. The fund owned 130,260 shares of the bank’s stock after buying an additional 37,878 shares during the period. ABC Arbitrage SA’s holdings in Sumitomo Mitsui Financial Group were worth $2,518,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. PFS Partners LLC bought a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. bought a new stake in Sumitomo Mitsui Financial Group during the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC increased its holdings in Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after buying an additional 1,227 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Sumitomo Mitsui Financial Group by 225.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,919 shares of the bank’s stock worth $32,000 after purchasing an additional 1,329 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

NYSE SMFG opened at $21.78 on Tuesday. The company has a fifty day moving average price of $20.52 and a 200-day moving average price of $19.86. The firm has a market cap of $138.91 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 0.70 and a beta of 0.43. Sumitomo Mitsui Financial Group Inc has a 1 year low of $14.27 and a 1 year high of $24.33.

Analyst Ratings Changes

Several research firms have recently weighed in on SMFG. Wall Street Zen lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. 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. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group has an average rating of “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.