28,492 Shares in Sumitomo Mitsui Financial Group Inc $SMFG Acquired by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC bought a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 1st quarter, Holdings Channel.com reports. The firm bought 28,492 shares of the bank’s stock, valued at approximately $563,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley raised its position in Sumitomo Mitsui Financial Group by 1.9% in the fourth quarter. Morgan Stanley now owns 21,541,139 shares of the bank’s stock worth $416,390,000 after acquiring an additional 404,435 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 1.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 10,997,774 shares of the bank’s stock worth $212,587,000 after acquiring an additional 161,026 shares during the last quarter. Northern Trust Corp grew its position in shares of Sumitomo Mitsui Financial Group by 2.6% during the 3rd quarter. Northern Trust Corp now owns 5,743,128 shares of the bank’s stock valued at $96,140,000 after acquiring an additional 147,963 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Sumitomo Mitsui Financial Group by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,090,741 shares of the bank’s stock valued at $61,042,000 after acquiring an additional 217,929 shares during the period. Finally, Wells Fargo & Company MN grew its position in shares of Sumitomo Mitsui Financial Group by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,151,904 shares of the bank’s stock valued at $41,596,000 after acquiring an additional 19,520 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

SMFG opened at $25.75 on Friday. The company has a 50 day simple moving average of $24.40 and a two-hundred day simple moving average of $22.34. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $164.30 billion, a P/E ratio of 19.22, a PEG ratio of 0.96 and a beta of 0.42. Sumitomo Mitsui Financial Group Inc has a 1-year low of $14.92 and a 1-year high of $26.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 EPS 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. Equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SMFG shares. Weiss Ratings raised Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

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.