Ritholtz Wealth Management cut its stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating) by 70.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,302 shares of the bank's stock after selling 101,331 shares during the period. Ritholtz Wealth Management's holdings in Sumitomo Mitsui Financial Group were worth $250,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its holdings 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's stock valued at $64,163,000 after acquiring an additional 1,596,520 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in Sumitomo Mitsui Financial Group by 0.8% in the first quarter. Lazard Asset Management LLC now owns 9,029,365 shares of the bank's stock valued at $56,614,000 after acquiring an additional 69,960 shares during the last quarter. Invesco Ltd. boosted its holdings in Sumitomo Mitsui Financial Group by 4,169.7% in the first quarter. Invesco Ltd. now owns 4,154,809 shares of the bank's stock valued at $26,051,000 after acquiring an additional 4,057,499 shares during the last quarter. Bank of America Corp DE boosted its holdings in Sumitomo Mitsui Financial Group by 6.7% in the first quarter. Bank of America Corp DE now owns 3,192,309 shares of the bank's stock valued at $20,016,000 after acquiring an additional 201,052 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 5.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 2,569,070 shares of the bank's stock worth $17,444,000 after buying an additional 139,136 shares in the last quarter. 1.92% of the stock is currently owned by institutional investors.
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Sumitomo Mitsui Financial Group stock opened at $5.75 on Wednesday. The stock has a market capitalization of $39.52 billion, a price-to-earnings ratio of 6.18, a PEG ratio of 0.54 and a beta of 0.74. Sumitomo Mitsui Financial Group, Inc. has a 52-week low of $5.70 and a 52-week high of $7.74. The stock's 50 day moving average price is $6.08 and its two-hundred day moving average price is $6.12. The company has a debt-to-equity ratio of 2.48, a quick ratio of 1.03 and a current ratio of 1.03.
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) last posted its quarterly earnings results on Friday, July 29th. The bank reported $0.28 earnings per share (EPS) for the quarter. The firm had revenue of $10.28 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 6.84% and a net margin of 16.86%. On average, equities analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.8 earnings per share for the current year.Analyst Ratings Changes
Separately, Bank of America upgraded Sumitomo Mitsui Financial Group from a "neutral" rating to a "buy" rating in a report on Thursday, June 23rd.
Sumitomo Mitsui Financial Group Profile
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Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, 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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