Oppenheimer Asset Management Inc. Invests $267,000 in Sumitomo Mitsui Financial Group Inc $SMFG

Oppenheimer Asset Management Inc. purchased a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,686 shares of the bank’s stock, valued at approximately $267,000.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA increased its stake in shares of Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock worth $36,000 after acquiring an additional 2,130 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Sumitomo Mitsui Financial Group in the first quarter worth $42,000. Geneos Wealth Management Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 41.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after acquiring an additional 930 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 823.7% in the first quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank’s stock worth $64,000 after acquiring an additional 3,690 shares during the last quarter. Finally, Brooklyn Investment Group increased its stake in shares of Sumitomo Mitsui Financial Group by 654.7% in the first quarter. Brooklyn Investment Group now owns 5,947 shares of the bank’s stock worth $92,000 after acquiring an additional 5,159 shares during the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMFG has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Sumitomo Mitsui Financial Group currently has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Trading Up 0.6%

Sumitomo Mitsui Financial Group stock opened at $16.31 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market capitalization of $104.83 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.78 and a beta of 0.37. Sumitomo Mitsui Financial Group Inc has a one year low of $11.83 and a one year high of $17.46. The company’s fifty day moving average price is $16.39 and its two-hundred day moving average price is $15.51.

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

Sumitomo Mitsui Financial Group Company Profile

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.