Ritholtz Wealth Management Increases Stock Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Ritholtz Wealth Management lifted its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,507 shares of the bank’s stock after buying an additional 5,288 shares during the period. Ritholtz Wealth Management’s holdings in Sumitomo Mitsui Financial Group were worth $260,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Morgan Stanley boosted its position in Sumitomo Mitsui Financial Group by 4.9% in the first quarter. Morgan Stanley now owns 8,887,953 shares of the bank’s stock worth $42,573,000 after purchasing an additional 417,388 shares during the last quarter. NINE MASTS CAPITAL Ltd raised its stake in shares of Sumitomo Mitsui Financial Group by 6,428.1% during the 2nd quarter. NINE MASTS CAPITAL Ltd now owns 4,714,923 shares of the bank’s stock valued at $26,487,000 after purchasing an additional 4,642,698 shares during the period. FMR LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 79.7% during the 2nd quarter. FMR LLC now owns 2,547,761 shares of the bank’s stock valued at $14,318,000 after purchasing an additional 1,129,823 shares during the period. Crossmark Global Holdings Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 278.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,884,344 shares of the bank’s stock valued at $10,533,000 after purchasing an additional 1,386,064 shares during the period. Finally, Natixis Advisors L.P. raised its stake in shares of Sumitomo Mitsui Financial Group by 9.3% during the 2nd quarter. Natixis Advisors L.P. now owns 1,218,998 shares of the bank’s stock valued at $6,851,000 after purchasing an additional 103,914 shares during the period. 2.00% of the stock is currently owned by institutional investors.

A number of equities analysts have weighed in on the company. Goldman Sachs Group lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 8th. Zacks Investment Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 10th. Finally, ValuEngine upgraded Sumitomo Mitsui Financial Group from a “strong sell” rating to a “sell” rating in a report on Friday, September 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $6.75.

Shares of SMFG traded down $0.10 during midday trading on Monday, reaching $5.64. The stock had a trading volume of 25,101 shares, compared to its average volume of 1,865,539. The company’s 50-day moving average is $5.76 and its 200 day moving average is $5.59. Sumitomo Mitsui Financial Group, Inc. has a 12-month low of $4.49 and a 12-month high of $7.56. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $39.41 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 3.69 and a beta of 1.15.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Wednesday, July 29th. The bank reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.07). The company had revenue of $9.02 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.61% and a return on equity of 5.75%. Research analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.69 EPS for the current fiscal year.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business Unit, Retail Business Unit, International Business Unit, and Global Markets Business Unit.

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Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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