Eagle Global Advisors LLC Has $4.81 Million Position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Key Points

• Eagle Global Advisors LLC reduced its stake in Sumitomo Mitsui Financial Group Inc by 7.4% after selling 25,000 shares, leaving them with 311,000 shares valued at approximately $4.81 million.
• Multiple hedge funds, including Envestnet Asset Management Inc. and FMR LLC, have increased their holdings in Sumitomo Mitsui Financial Group, with FMR LLC boosting its stake by 16.5% to own over 8.38 million shares valued at $121.47 million.
• Analysts have upgraded the stock's ratings, with Wall Street Zen moving it from a "sell" to a "hold," and Nomura Securities upgrading it to a "strong-buy" rating.

Eagle Global Advisors LLC lessened its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,000 shares of the bank's stock after selling 25,000 shares during the quarter. Eagle Global Advisors LLC's holdings in Sumitomo Mitsui Financial Group were worth $4,808,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SMFG. Capital A Wealth Management LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $25,000. Bessemer Group Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after purchasing an additional 1,119 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $34,000. Private Trust Co. NA grew its stake in shares of Sumitomo Mitsui Financial Group by 1,044.1% during the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after purchasing an additional 2,130 shares during the period. Finally, Financial Management Professionals Inc. grew its stake in Sumitomo Mitsui Financial Group by 88.3% in the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock valued at $37,000 after acquiring an additional 1,127 shares during the period. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG traded up $0.57 on Tuesday, hitting $16.31. The company's stock had a trading volume of 1,775,604 shares, compared to its average volume of 2,214,548. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. The stock has a fifty day moving average of $15.18 and a two-hundred day moving average of $14.88. The firm has a market capitalization of $105.57 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 0.70 and a beta of 0.41. Sumitomo Mitsui Financial Group Inc has a one year low of $11.83 and a one year high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. The company had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. Research analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

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

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.