New York State Common Retirement Fund Invests $1.09 Million in Sumitomo Mitsui Financial Group Inc $SMFG

New York State Common Retirement Fund purchased a new position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 65,381 shares of the bank’s stock, valued at approximately $1,094,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SMFG. True Wealth Design LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the third quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Sumitomo Mitsui Financial Group by 163.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,227 shares during the period. NewSquare Capital LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 204.7% in the second quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock valued at $31,000 after buying an additional 1,363 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the 2nd quarter valued at $34,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 2,443.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,955 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMFG. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG opened at $23.21 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. The stock has a market cap of $148.80 billion, a PE ratio of 19.34, a PEG ratio of 0.89 and a beta of 0.36. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $23.23. The business has a 50-day simple moving average of $20.12 and a two-hundred day simple moving average of $17.73.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The firm had revenue of $17.71 billion during the quarter, compared to analyst estimates of $7.93 billion. Analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

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.