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

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

Several other institutional investors also recently bought and sold shares of SMFG. PFS Partners LLC acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $27,000. Ascentis Independent Advisors acquired a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth about $27,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Sumitomo Mitsui Financial Group in the third quarter valued at approximately $29,000. Sound Income Strategies LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the period. Finally, Bayban acquired a new position in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $30,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $25.62 on Wednesday. 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 cap 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. The stock’s 50-day moving average is $24.30 and its two-hundred day moving average is $22.26. Sumitomo Mitsui Financial Group Inc has a 1-year low of $14.92 and a 1-year high of $26.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced 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 10.19% and a net margin of 15.68%.The business had revenue of $7.31 billion during the quarter. Analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.86 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in 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 note on Wednesday, July 1st. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, Sumitomo Mitsui Financial Group currently has an average rating of “Strong Buy”.

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.