Oppenheimer Asset Management Inc. Acquires 27,481 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Oppenheimer Asset Management Inc. grew its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 155.4% during the third quarter, Holdings Channel reports. The firm owned 45,167 shares of the bank’s stock after acquiring an additional 27,481 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $756,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Apollon Wealth Management LLC increased its holdings in Sumitomo Mitsui Financial Group by 4.9% in the second quarter. Apollon Wealth Management LLC now owns 13,807 shares of the bank’s stock worth $209,000 after purchasing an additional 651 shares in the last quarter. Versant Capital Management Inc grew its position in shares of 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 worth $523,000 after buying an additional 656 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 5.8% during the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 12,291 shares of the bank’s stock worth $206,000 after buying an additional 678 shares during the period. Canopy Partners LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 6.5% in the 3rd quarter. Canopy Partners LLC now owns 13,368 shares of the bank’s stock valued at $224,000 after acquiring an additional 810 shares in the last quarter. Finally, Bailard Inc. lifted its position in shares of Sumitomo Mitsui Financial Group by 3.1% during the 2nd quarter. Bailard Inc. now owns 28,246 shares of the bank’s stock valued at $427,000 after acquiring an additional 842 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Up 0.2%

Shares of NYSE SMFG opened at $23.80 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 company has a 50-day moving average price of $20.51 and a 200-day moving average price of $17.96. The stock has a market capitalization of $152.55 billion, a P/E ratio of 19.83, a P/E/G ratio of 0.92 and a beta of 0.36. 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 results 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 business 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%. On average, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Wall Street Zen raised Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold”.

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.