BTC Capital Management Inc. Has $2.33 Million Stake in Sumitomo Mitsui Financial Group Inc $SMFG

BTC Capital Management Inc. lowered its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 35.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,185 shares of the bank’s stock after selling 64,732 shares during the period. BTC Capital Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $2,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC raised its position in shares of Sumitomo Mitsui Financial Group by 26.0% in the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after acquiring an additional 36,522 shares during the period. Focus Partners Wealth grew its holdings in Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock valued at $282,000 after purchasing an additional 5,258 shares during the period. Geneos Wealth Management Inc. grew its holdings in Sumitomo Mitsui Financial Group by 41.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock valued at $49,000 after purchasing an additional 930 shares during the period. Acadian Asset Management LLC increased its stake in Sumitomo Mitsui Financial Group by 336.4% in the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after purchasing an additional 30,506 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its stake in Sumitomo Mitsui Financial Group by 43.9% in the second quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after purchasing an additional 9,876 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SMFG. Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Finally, Zacks Research raised Sumitomo Mitsui Financial Group from a “strong sell” rating to a “hold” rating in a research note on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Price Performance

NYSE SMFG opened at $19.74 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $125.94 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 0.74 and a beta of 0.33. The business has a 50 day simple moving average of $21.22 and a 200 day simple moving average of $18.98. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. Analysts anticipate 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 (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.