Ferguson Wellman Capital Management Inc. Makes New Investment in Sumitomo Mitsui Financial Group Inc $SMFG

Ferguson Wellman Capital Management Inc. acquired a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the first quarter, HoldingsChannel.com reports. The firm acquired 1,711,455 shares of the bank’s stock, valued at approximately $33,801,000.

Other large investors also recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of Sumitomo Mitsui Financial Group by 1.9% during the 4th quarter. Morgan Stanley now owns 21,541,139 shares of the bank’s stock valued at $416,390,000 after purchasing an additional 404,435 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 1.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,997,774 shares of the bank’s stock worth $212,587,000 after purchasing an additional 161,026 shares in the last quarter. Northern Trust Corp raised its position in shares of Sumitomo Mitsui Financial Group by 2.6% during the third quarter. Northern Trust Corp now owns 5,743,128 shares of the bank’s stock valued at $96,140,000 after buying an additional 147,963 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Sumitomo Mitsui Financial Group by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,886,033 shares of the bank’s stock worth $48,312,000 after purchasing an additional 9,022 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Sumitomo Mitsui Financial Group by 0.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,151,904 shares of the bank’s stock valued at $41,596,000 after buying an additional 19,520 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on SMFG. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings raised Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG stock traded up $0.24 during mid-day trading on Friday, hitting $25.72. 2,620,440 shares of the stock were exchanged, compared to its average volume of 1,792,215. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. Sumitomo Mitsui Financial Group Inc has a 52-week low of $14.40 and a 52-week high of $25.82. The firm has a fifty day moving average of $23.32 and a 200 day moving average of $21.72. The company has a market cap of $164.10 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The firm had revenue of $7.31 billion during the quarter. Research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.87 earnings per share for the current year.

Sumitomo Mitsui Financial Group Company 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.