Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC decreased its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 91.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the bank’s stock after selling 64,800 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Sumitomo Mitsui Financial Group were worth $122,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. PFS Partners LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $27,000. Sound Income Strategies LLC grew its position in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after acquiring an additional 610 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Sumitomo Mitsui Financial Group by 3,149.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank’s stock worth $33,000 after acquiring an additional 1,543 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $32,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

SMFG has been the subject of several research reports. Wall Street Zen lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

NYSE:SMFG opened at $22.32 on Thursday. Sumitomo Mitsui Financial Group Inc has a 12-month low of $14.27 and a 12-month high of $24.33. The firm has a market capitalization of $142.35 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.72 and a beta of 0.43. The business has a 50 day simple moving average of $20.52 and a 200 day simple moving average of $19.95.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%.The business had revenue of $7.31 billion during the quarter. Research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.49 EPS 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.