Allspring Global Investments Holdings LLC Buys 89,464 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Allspring Global Investments Holdings LLC grew its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 665,949 shares of the bank's stock after purchasing an additional 89,464 shares during the period. Allspring Global Investments Holdings LLC's holdings in Sumitomo Mitsui Financial Group were worth $10,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. BSW Wealth Partners boosted its position in shares of Sumitomo Mitsui Financial Group by 4.4% during the 1st quarter. BSW Wealth Partners now owns 19,652 shares of the bank's stock valued at $304,000 after purchasing an additional 837 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of Sumitomo Mitsui Financial Group by 6.4% in the first quarter. PDS Planning Inc now owns 45,999 shares of the bank's stock worth $711,000 after buying an additional 2,758 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 4.0% in the first quarter. Sequoia Financial Advisors LLC now owns 88,493 shares of the bank's stock worth $1,368,000 after buying an additional 3,373 shares during the period. Bessemer Group Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 214.8% in the first quarter. Bessemer Group Inc. now owns 6,072 shares of the bank's stock worth $94,000 after buying an additional 4,143 shares during the period. Finally, Channing Global Advisors LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 11.8% in the first quarter. Channing Global Advisors LLC now owns 14,666 shares of the bank's stock worth $227,000 after buying an additional 1,548 shares during the period. Institutional investors own 3.85% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research report on Friday, June 27th.

Sumitomo Mitsui Financial Group Price Performance

Shares of Sumitomo Mitsui Financial Group stock traded up $0.27 during midday trading on Friday, hitting $15.38. The company had a trading volume of 917,409 shares, compared to its average volume of 1,560,032. The business's 50 day simple moving average is $14.83 and its two-hundred day simple moving average is $14.73. The stock has a market cap of $99.27 billion, a PE ratio of 16.90, a P/E/G ratio of 0.67 and a beta of 0.39. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.74 and a 1-year high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The business had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.96%. On average, sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

About Sumitomo Mitsui Financial Group

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.