Paradigm Asset Management Co. LLC trimmed its position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Free Report) by 85.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,300 shares of the bank’s stock after selling 36,456 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Sumitomo Mitsui Financial Group were worth $50,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in shares of Sumitomo Mitsui Financial Group by 335.5% during the first quarter. UMB Bank n.a. now owns 3,205 shares of the bank’s stock worth $26,000 after purchasing an additional 2,469 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the first quarter worth about $31,000. Fortis Capital Advisors LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth $37,000. Glassman Wealth Services lifted its holdings in shares of Sumitomo Mitsui Financial Group by 38.5% during the 1st quarter. Glassman Wealth Services now owns 5,036 shares of the bank’s stock worth $40,000 after acquiring an additional 1,399 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 127.5% during the 4th quarter. Assetmark Inc. now owns 9,081 shares of the bank’s stock valued at $73,000 after buying an additional 5,090 shares in the last quarter. 1.59% of the stock is owned by hedge funds and other institutional investors.

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Sumitomo Mitsui Financial Group Trading Up 1.7 %

SMFG stock traded up $0.15 during trading on Tuesday, hitting $8.77. 699,658 shares of the company traded hands, compared to its average volume of 2,768,117. The firm has a market capitalization of $58.65 billion, a PE ratio of 10.24, a P/E/G ratio of 1.84 and a beta of 0.69. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $5.39 and a 1 year high of $9.58. The company has a 50-day moving average of $8.77 and a 200-day moving average of $8.48. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06.

Wall Street Analyst Weigh In

Sumitomo Mitsui Financial Group ( NYSE:SMFG Get Free Report ) last issued its earnings results on Monday, July 31st. The bank reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. Sumitomo Mitsui Financial Group had a return on equity of 6.62% and a net margin of 11.19%. The company had revenue of $16.56 billion during the quarter. Analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.88 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on SMFG. The Goldman Sachs Group cut Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th. StockNews.com began coverage on shares of Sumitomo Mitsui Financial Group in a report on Thursday, August 17th. They set a “hold” rating on the stock.

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About Sumitomo Mitsui Financial Group

(Free Report)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.

See Also

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