Allspring Global Investments Holdings LLC Boosts Stock Position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Allspring Global Investments Holdings LLC raised its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 15.5% in the first quarter, according to the company in its most recent filing with the Securities & 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 & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SMFG. FMR LLC raised its position in shares of Sumitomo Mitsui Financial Group by 16.5% in the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank's stock worth $121,474,000 after acquiring an additional 1,189,453 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 26.9% in the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank's stock worth $92,509,000 after acquiring an additional 1,355,287 shares in the last quarter. Northern Trust Corp raised its position in shares of Sumitomo Mitsui Financial Group by 79.3% in the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock worth $72,877,000 after acquiring an additional 2,224,913 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Sumitomo Mitsui Financial Group by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank's stock worth $42,015,000 after acquiring an additional 33,783 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 4.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank's stock worth $26,135,000 after acquiring an additional 70,946 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Stock Down 2.9%

NYSE:SMFG traded down $0.44 during mid-day trading on Monday, hitting $14.84. 2,486,488 shares of the company's stock traded hands, compared to its average volume of 1,567,300. The company has a fifty day moving average of $14.85 and a 200 day moving average of $14.75. Sumitomo Mitsui Financial Group Inc has a twelve month low of $10.74 and a twelve month high of $16.74. The company has a market capitalization of $95.81 billion, a P/E ratio of 16.31, a P/E/G ratio of 0.67 and a beta of 0.39. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.05 and a current ratio of 1.05.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its 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). Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. The business had revenue of $16.55 billion for the quarter. On average, analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current 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.