DJE Kapital AG Buys New Stake in Sumitomo Mitsui Financial Group Inc $SMFG

DJE Kapital AG bought a new stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 100,470 shares of the bank’s stock, valued at approximately $1,984,000.

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

Sumitomo Mitsui Financial Group Stock Performance

Shares of Sumitomo Mitsui Financial Group stock opened at $24.95 on Tuesday. Sumitomo Mitsui Financial Group Inc has a one year low of $14.64 and a one year high of $26.67. The company has a market cap of $159.15 billion, a PE ratio of 18.62, a P/E/G ratio of 0.96 and a beta of 0.42. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.06 and a current ratio of 1.06. The business has a 50-day simple moving average of $23.82 and a 200-day simple moving average of $21.99.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The firm had revenue of $7.31 billion for the quarter. On average, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.86 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SMFG. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings upgraded shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Sumitomo Mitsui Financial Group

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.