Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC lowered its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 91.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,300 shares of the bank’s stock after selling 64,800 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Sumitomo Mitsui Financial Group were worth $122,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SMFG. Bridgewater Advisors Inc. raised its stake in Sumitomo Mitsui Financial Group by 2.2% during the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock valued at $513,000 after acquiring an additional 530 shares in the last quarter. Sound Income Strategies LLC raised its stake in Sumitomo Mitsui Financial Group by 76.8% during the 4th 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 in the last quarter. Aprio Wealth Management LLC raised its stake in Sumitomo Mitsui Financial Group by 3.9% during the 3rd quarter. Aprio Wealth Management LLC now owns 16,517 shares of the bank’s stock valued at $276,000 after acquiring an additional 626 shares in the last quarter. Pzena Investment Management LLC raised its stake in Sumitomo Mitsui Financial Group by 2.6% during the 3rd quarter. Pzena Investment Management LLC now owns 24,687 shares of the bank’s stock valued at $413,000 after acquiring an additional 635 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in Sumitomo Mitsui Financial Group by 2.1% during the 3rd quarter. Versant Capital Management Inc now owns 31,219 shares of the bank’s stock valued at $523,000 after acquiring an additional 656 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 Sumitomo Mitsui Financial Group stock opened at $22.32 on Thursday. The business’s fifty day moving average price is $20.52 and its two-hundred day moving average price is $19.95. The company has a market capitalization of $142.35 billion, a P/E ratio of 18.60, a PEG ratio of 0.72 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.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. The firm had revenue of $7.31 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. On average, research analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on SMFG shares. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research raised 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 company’s stock. According to MarketBeat.com, Sumitomo Mitsui Financial Group presently 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.