Bank of America Corp DE Has $25.74 Million Position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Bank of America Corp DE boosted its stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,776,384 shares of the bank's stock after purchasing 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 reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock valued at $28,000 after buying an additional 1,119 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank's stock valued at $45,000 after buying an additional 2,963 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Sumitomo Mitsui Financial Group by 36.8% in the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock valued at $51,000 after buying an additional 940 shares during the last quarter. Sierra Ocean LLC purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $86,000. Finally, Parkside Financial Bank & Trust boosted its position in Sumitomo Mitsui Financial Group by 32.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank's stock valued at $115,000 after buying an additional 1,968 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research report on Thursday.

Sumitomo Mitsui Financial Group Stock Performance

Shares of SMFG traded up $0.19 during mid-day trading on Friday, reaching $15.13. 1,910,970 shares of the company's stock traded hands, compared to its average volume of 1,442,725. The business's 50-day moving average price is $14.26 and its 200-day moving average price is $14.59. The stock has a market capitalization of $97.95 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.36 and a beta of 0.40. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group, Inc. has a 12 month low of $10.74 and a 12 month high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $16.55 billion for the quarter. Equities analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.39 earnings per share for the current year.

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.