Quantinno Capital Management LP Purchases 245,231 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Quantinno Capital Management LP grew its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 17.9% during the 1st quarter, Holdings Channel reports. The firm owned 1,615,819 shares of the bank’s stock after purchasing an additional 245,231 shares during the period. Quantinno Capital Management LP’s holdings in Sumitomo Mitsui Financial Group were worth $31,912,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SMFG. Ascentis Independent Advisors bought a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. bought a new position in Sumitomo Mitsui Financial Group in the third quarter valued at approximately $29,000. Sound Income Strategies LLC boosted its stake in 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 acquiring an additional 610 shares during the last quarter. Bayban bought a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $30,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after acquiring an additional 1,227 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock opened at $25.93 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The firm has a market capitalization of $165.41 billion, a P/E ratio of 19.35, a PEG ratio of 0.99 and a beta of 0.42. The business has a 50-day moving average of $24.46 and a 200-day moving average of $22.36. 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 results on Tuesday, June 30th. The bank reported $0.49 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 business had revenue of $8.71 billion for the quarter. On average, equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMFG. Weiss Ratings upgraded 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 upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Strong Buy”.

Sumitomo Mitsui Financial Group 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.