Sumitomo Mitsui Financial Group Inc $SMFG Position Raised by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Sumitomo Mitsui Financial Group by 34.8%, owning 87,352 shares valued at approximately $1.35 million as of the first quarter.
• Several institutional investors, including Lindbrook Capital and Wedmont Private Capital, have also increased their stakes in Sumitomo Mitsui Financial Group, indicating growing interest in the bank's stock.
• Analysts have upgraded Sumitomo Mitsui Financial Group's stock rating from "sell" to "hold," with a consensus rating of "Strong Buy."

Russell Investments Group Ltd. lifted its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 34.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,352 shares of the bank's stock after acquiring an additional 22,535 shares during the period. Russell Investments Group Ltd.'s holdings in Sumitomo Mitsui Financial Group were worth $1,350,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 3.8% during the 1st quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank's stock worth $310,000 after acquiring an additional 729 shares during the period. Wedmont Private Capital lifted its holdings in shares of Sumitomo Mitsui Financial Group by 4.9% during the 1st quarter. Wedmont Private Capital now owns 17,160 shares of the bank's stock worth $265,000 after acquiring an additional 801 shares during the period. BSW Wealth Partners lifted its holdings 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 worth $304,000 after acquiring an additional 837 shares during the period. D Orazio & Associates Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 8.5% during the 1st quarter. D Orazio & Associates Inc. now owns 11,105 shares of the bank's stock worth $172,000 after acquiring an additional 867 shares during the period. Finally, Csenge Advisory Group raised its holdings in Sumitomo Mitsui Financial Group by 3.7% in the first quarter. Csenge Advisory Group now owns 25,173 shares of the bank's stock valued at $389,000 after buying an additional 903 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

Sumitomo Mitsui Financial Group stock traded down $0.10 during mid-day trading on Monday, reaching $16.44. The company's stock had a trading volume of 1,610,064 shares, compared to its average volume of 2,058,794. The firm has a market cap of $105.66 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.73 and a beta of 0.39. The business has a 50 day moving average price of $15.60 and a 200-day moving average price of $15.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $17.46.

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on SMFG. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

Sumitomo Mitsui Financial Group 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.