Blair William & Co. IL Acquires Shares of 24,467 Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Key Points

• Blair William & Co. IL has made a new investment in Sumitomo Mitsui Financial Group, acquiring 24,467 shares valued at approximately $378,000 in the first quarter.
• Recent changes in institutional ownership include a significant 1,044.1% increase in shares by Private Trust Co. NA during the first quarter, showcasing increased investor interest.
• Sumitomo Mitsui Financial Group's stock recently opened at $15.75, with the firm reporting an EPS of $0.40, exceeding analysts' expectations.

Blair William & Co. IL purchased a new stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 24,467 shares of the bank's stock, valued at approximately $378,000.

Several other large investors have also recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in Sumitomo Mitsui Financial Group by 20.8% in the 1st quarter. US Bancorp DE now owns 361,646 shares of the bank's stock valued at $5,591,000 after acquiring an additional 62,170 shares in the last quarter. Cordatus Wealth Management LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth approximately $570,000. Natixis Advisors LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 59.8% in the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank's stock worth $22,250,000 after buying an additional 538,823 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 1.7% in the 1st quarter. Federated Hermes Inc. now owns 184,730 shares of the bank's stock worth $2,856,000 after buying an additional 3,139 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 37.0% in the 1st quarter. LPL Financial LLC now owns 445,354 shares of the bank's stock worth $6,885,000 after buying an additional 120,362 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on SMFG shares. Wall Street Zen raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Nomura Securities raised Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG traded up $0.50 during mid-day trading on Thursday, reaching $16.75. The company had a trading volume of 2,353,371 shares, compared to its average volume of 1,876,780. The company has a market capitalization of $108.47 billion, a P/E ratio of 17.63, a P/E/G ratio of 0.72 and a beta of 0.41. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $16.76. The company's 50-day moving average is $15.19 and its 200-day moving average is $14.89. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.09. The business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $1,094.67 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. On average, equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Sumitomo Mitsui Financial Group Company Profile

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.