Sowell Financial Services LLC Has $283,000 Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Sowell Financial Services LLC boosted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 6.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,699 shares of the bank’s stock after buying an additional 1,094 shares during the period. Sowell Financial Services LLC’s holdings in Sumitomo Mitsui Financial Group were worth $283,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC grew its position in shares of Sumitomo Mitsui Financial Group by 460.7% in the fourth quarter. Millennium Management LLC now owns 94,329 shares of the bank’s stock valued at $1,367,000 after purchasing an additional 77,507 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in Sumitomo Mitsui Financial Group by 7.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 18,311 shares of the bank’s stock valued at $265,000 after purchasing an additional 1,290 shares during the period. Park Square Financial Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at $34,000. Versant Capital Management Inc raised its stake in Sumitomo Mitsui Financial Group by 1,473.7% in the 1st quarter. Versant Capital Management Inc now owns 32,827 shares of the bank’s stock worth $508,000 after purchasing an additional 30,741 shares in the last quarter. Finally, Summit Global Investments boosted its stake in shares of Sumitomo Mitsui Financial Group by 169.8% in the first quarter. Summit Global Investments now owns 104,297 shares of the bank’s stock valued at $1,612,000 after buying an additional 65,641 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SMFG has been the subject of several analyst reports. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research note on Thursday, July 3rd. Finally, Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Strong Buy”.

Sumitomo Mitsui Financial Group Stock Down 0.4%

Shares of NYSE:SMFG opened at $16.86 on Friday. The business has a fifty day simple moving average of $16.25 and a 200 day simple moving average of $15.22. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. The firm has a market cap of $108.36 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.82 and a beta of 0.39. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $17.46.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The business had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $1,094.67 billion. Analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.