Farmers & Merchants Investments Inc. increased its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE: SMFG – Get Rating) by 1,719.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor held 5,676 shares of the bank after purchasing an additional 5,364 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $36,000 at the end of last quarter.

A number of other large investors have also recently increased or reduced their stake in SMFG. LMR Partners LLP acquired a new stake in Sumitomo Mitsui Financial Group in the fourth quarter valued at $18,772,000. Goldman Sachs Group Inc. increased its stake in Sumitomo Mitsui Financial Group by 20.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 9,449,638 shares of the bank worth $64,163,000 after purchasing an additional 1,596,520 shares during the period. Citigroup Inc. increased its stake in Sumitomo Mitsui Financial Group by 102.2% in the fourth quarter. Citigroup Inc. now owns 2,332,720 shares of the bank worth $15,839,000 after purchasing an additional 1,178,912 shares during the period. Castleark Management LLC acquired a new stake in Sumitomo Mitsui Financial Group in the fourth quarter valued at $7,096,000. Finally, DE Shaw & Co. Inc. increased its stake in Sumitomo Mitsui Financial Group by 47.1% in the fourth quarter. DE Shaw & Co. Inc. now owns 1,708,505 shares of the bank worth $11,601,000 after purchasing an additional 547,249 shares during the period. Institutional investors hold 3.02% of the company’s shares.

A number of analysts have weighed in on SMFG shares. Bank of America upgraded Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a Thursday, June 23 research note. Goldman Sachs Group assumed cover for Sumitomo Mitsui Financial Group in a Wednesday, April 27 research report. They set a “buy” rating on the stock. Finally, StockNews.com downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a Sunday, May 29 research report.

SMFG opened at $5.90 on Friday. Sumitomo Mitsui Financial Group, Inc. has a 12-month low of $5.70 and a 12-month high of $7.74. The company’s 50-day simple moving average is $6.00 and its 200-day simple moving average is $6.61. The company has a market capitalization of $40.54 billion, a price-earnings ratio of 6.41, a PEG ratio of 0.50 and a beta of 0.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) last released quarterly earnings data on Friday, May 13. The bank reported earnings per share of $0.23 for the quarter. Sumitomo Mitsui Financial Group achieved a return on equity of 6.64% and a net margin of 17.34%. The company had revenue of $9.60 billion for the quarter. On average, stock analysts expect Sumitomo Mitsui Financial Group, Inc. to post EPS of 0.86 for the current fiscal year.

Sumitomo Mitsui Financial Group Profile (Get a rating)

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

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Want to see which other hedge funds hold SMFG? Visit HoldingsChannel.com for the latest 13F filings and insider trading for Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating).

Institutional ownership by quarter for Sumitomo Mitsui Financial Group (NYSE: SMFG)



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