Dorsey Wright & Associates Boosts Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Dorsey Wright & Associates grew its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 39.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,228 shares of the bank’s stock after purchasing an additional 36,069 shares during the period. Dorsey Wright & Associates’ holdings in Sumitomo Mitsui Financial Group were worth $2,533,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in Sumitomo Mitsui Financial Group by 26.0% in the first quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after purchasing an additional 36,522 shares during the last quarter. Focus Partners Wealth boosted its position in Sumitomo Mitsui Financial Group by 40.5% during the 1st quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock valued at $282,000 after acquiring an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 41.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock valued at $49,000 after purchasing an additional 930 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 336.4% during the 1st quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after buying an additional 30,506 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Sumitomo Mitsui Financial Group by 43.9% during the second quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock worth $490,000 after acquiring an additional 9,876 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Zacks Research lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a 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 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Down 3.3%

Shares of NYSE:SMFG opened at $24.98 on Friday. The company has a market cap of $159.38 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 0.99 and a beta of 0.42. Sumitomo Mitsui Financial Group Inc has a 12 month low of $14.51 and a 12 month high of $26.67. The company has a 50-day moving average price of $23.76 and a 200 day moving average price of $21.94. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48.

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