Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE raised its holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,776,384 shares of the bank's stock after acquiring an additional 129,684 shares during the period. Bank of America Corp DE's holdings in Sumitomo Mitsui Financial Group were worth $25,740,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Lido Advisors LLC raised its holdings in Sumitomo Mitsui Financial Group by 8.7% in the 4th quarter. Lido Advisors LLC now owns 18,570 shares of the bank's stock valued at $269,000 after acquiring an additional 1,480 shares during the last quarter. Northern Trust Corp raised its holdings in 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 valued at $72,877,000 after acquiring an additional 2,224,913 shares during the last quarter. Coldstream Capital Management Inc. raised its holdings in Sumitomo Mitsui Financial Group by 36.0% in the 4th quarter. Coldstream Capital Management Inc. now owns 20,296 shares of the bank's stock valued at $294,000 after acquiring an additional 5,371 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Sumitomo Mitsui Financial Group by 4.3% in the 4th quarter. Integrated Wealth Concepts LLC now owns 33,116 shares of the bank's stock valued at $480,000 after acquiring an additional 1,354 shares during the last quarter. Finally, Syon Capital LLC raised its holdings in Sumitomo Mitsui Financial Group by 55.2% in the 4th quarter. Syon Capital LLC now owns 17,460 shares of the bank's stock valued at $253,000 after acquiring an additional 6,207 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Performance

Sumitomo Mitsui Financial Group stock opened at $14.36 on Friday. The firm has a 50 day simple moving average of $14.35 and a 200-day simple moving average of $14.54. 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 debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market cap of $92.94 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 2.36 and a beta of 0.40.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted 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). Sumitomo Mitsui Financial Group had a net margin of 12.61% and a return on equity of 8.52%. The firm had revenue of $16.55 billion during the quarter. On average, analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.

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