Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 9.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,749,272 shares of the bank’s stock after selling 175,245 shares during the period. Renaissance Technologies LLC’s holdings in Sumitomo Mitsui Financial Group were worth $34,548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley increased its holdings in Sumitomo Mitsui Financial Group by 1.9% in the fourth quarter. Morgan Stanley now owns 21,541,139 shares of the bank’s stock valued at $416,390,000 after buying an additional 404,435 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 1.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,997,774 shares of the bank’s stock worth $212,587,000 after buying an additional 161,026 shares during the last quarter. Northern Trust Corp lifted its holdings in Sumitomo Mitsui Financial Group by 2.6% during the 3rd quarter. Northern Trust Corp now owns 5,743,128 shares of the bank’s stock worth $96,140,000 after buying an additional 147,963 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sumitomo Mitsui Financial Group by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,090,741 shares of the bank’s stock worth $61,042,000 after acquiring an additional 217,929 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of 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 acquiring an additional 19,520 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMFG. Weiss Ratings upgraded Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group has an average rating of “Strong Buy”.

Sumitomo Mitsui Financial Group Trading Down 2.7%

NYSE SMFG opened at $25.62 on Wednesday. The firm’s fifty day moving average price is $24.30 and its 200 day moving average price is $22.26. Sumitomo Mitsui Financial Group Inc has a 12 month low of $14.92 and a 12 month high of $26.67. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $163.46 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.01 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced 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. On average, sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.86 earnings per share for the current fiscal 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.