ABC Arbitrage SA Invests $1.55 Million in Sumitomo Mitsui Financial Group Inc $SMFG

ABC Arbitrage SA bought a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 92,382 shares of the bank’s stock, valued at approximately $1,546,000.

Other large investors have also bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 137.4% during the second quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank’s stock valued at $20,507,000 after purchasing an additional 785,443 shares during the period. Orion Porfolio Solutions LLC increased its position in Sumitomo Mitsui Financial Group by 606.2% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock valued at $10,724,000 after buying an additional 609,212 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in Sumitomo Mitsui Financial Group during the 2nd quarter worth approximately $8,188,000. Massar Capital Management LP bought a new position in Sumitomo Mitsui Financial Group in the second quarter worth approximately $7,555,000. Finally, Osaic Holdings Inc. grew its stake in Sumitomo Mitsui Financial Group by 846.2% in the second quarter. Osaic Holdings Inc. now owns 548,474 shares of the bank’s stock valued at $8,465,000 after acquiring an additional 490,506 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SMFG. Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report 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 note on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $23.44 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. The stock has a market cap of $150.28 billion, a PE ratio of 19.53, a price-to-earnings-growth ratio of 0.90 and a beta of 0.36. The stock’s fifty day simple moving average is $20.21 and its two-hundred day simple moving average is $17.78. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $23.86.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Friday, January 30th. The bank reported $0.16 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 analysts’ expectations of $7.93 billion. As a group, analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS 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.