Pinpoint Asset Management Singapore Pte. Ltd. Purchases Shares of 100,000 Sumitomo Mitsui Financial Group Inc $SMFG

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the bank’s stock, valued at approximately $1,674,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SMFG. Fisher Asset Management LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 137.4% during the 2nd quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank’s stock valued at $20,507,000 after buying an additional 785,443 shares in the last quarter. Orion Porfolio Solutions LLC boosted its stake in Sumitomo Mitsui Financial Group by 606.2% in the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock worth $10,724,000 after buying an additional 609,212 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in Sumitomo Mitsui Financial Group in the second quarter worth approximately $8,188,000. Massar Capital Management LP bought a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $7,555,000. Finally, Osaic Holdings Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 846.2% during the second quarter. Osaic Holdings Inc. now owns 548,474 shares of the bank’s stock worth $8,465,000 after acquiring an additional 490,506 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SMFG has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Zacks Research cut shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Finally, Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Price Performance

SMFG opened at $20.10 on Monday. 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 stock’s 50 day simple moving average is $21.43 and its 200 day simple moving average is $18.62. The firm has a market cap of $128.22 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.78 and a beta of 0.33. 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 quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.24). The company had revenue of $17.71 billion during the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. As a group, analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

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.