Sumitomo Mitsui Financial Group Inc $SMFG Shares Bought by Dorsey Wright & Associates

Dorsey Wright & Associates lifted its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 39.1% in the first quarter, Holdings Channel reports. The firm owned 128,228 shares of the bank’s stock after buying an additional 36,069 shares during the period. Dorsey Wright & Associates’ holdings in Sumitomo Mitsui Financial Group were worth $2,533,000 as of its most recent SEC filing.

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

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $24.98 on Friday. The firm has a market capitalization of $159.38 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.06 and a current ratio of 1.06. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.51 and a fifty-two week high of $26.67. The stock’s 50-day simple moving average is $23.76 and its 200-day simple moving average is $21.94.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. The company had revenue of $7.31 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%. As a group, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SMFG. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Zacks Research lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. 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 investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Sumitomo Mitsui Financial Group has an average rating of “Moderate Buy”.

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.