Silvercrest Asset Management Group LLC Takes $3.51 Million Position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Silvercrest Asset Management Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 242,300 shares of the bank's stock, valued at approximately $3,511,000.

Several other hedge funds have also recently made changes to their positions in SMFG. Aaron Wealth Advisors LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 9.0% during the fourth quarter. Aaron Wealth Advisors LLC now owns 54,137 shares of the bank's stock valued at $784,000 after purchasing an additional 4,470 shares during the last quarter. Gilman Hill Asset Management LLC raised its position in Sumitomo Mitsui Financial Group by 0.6% in the fourth quarter. Gilman Hill Asset Management LLC now owns 208,594 shares of the bank's stock worth $3,023,000 after acquiring an additional 1,223 shares during the period. Diversify Wealth Management LLC raised its position in Sumitomo Mitsui Financial Group by 18.5% in the fourth quarter. Diversify Wealth Management LLC now owns 61,077 shares of the bank's stock worth $863,000 after acquiring an additional 9,553 shares during the period. Ballentine Partners LLC raised its position in Sumitomo Mitsui Financial Group by 10.7% in the fourth quarter. Ballentine Partners LLC now owns 61,583 shares of the bank's stock worth $892,000 after acquiring an additional 5,972 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in Sumitomo Mitsui Financial Group by 0.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 498,398 shares of the bank's stock worth $7,222,000 after acquiring an additional 4,421 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Up 1.2%

SMFG opened at $14.52 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. Sumitomo Mitsui Financial Group, Inc. has a 1-year low of $10.74 and a 1-year high of $16.74. The company has a market capitalization of $94.00 billion, a PE ratio of 14.10, a PEG ratio of 2.36 and a beta of 0.40. The firm's 50 day simple moving average is $14.34 and its two-hundred day simple moving average is $14.56.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share 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 return on equity of 8.52% and a net margin of 12.61%. As a group, equities analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research report on Friday, March 21st.

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.

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