US Bancorp DE Has $5.59 Million Stock Position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Key Points

• US Bancorp DE increased its holdings in Sumitomo Mitsui Financial Group by 20.8%, totaling 361,646 shares valued at approximately $5.59 million as of the latest SEC filing.
• Several institutional investors also ramped up their stakes, with Northern Trust Corp increasing its share count by 79.3% to over 5 million shares valued at about $72.88 million.
• Analyst ratings shifted positively, with Nomura Securities upgrading the stock to a "strong-buy" rating and Wall Street Zen changing its outlook from "sell" to "hold."

US Bancorp DE lifted its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 20.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 361,646 shares of the bank's stock after buying an additional 62,170 shares during the quarter. US Bancorp DE's holdings in Sumitomo Mitsui Financial Group were worth $5,591,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in Sumitomo Mitsui Financial Group by 3.8% during the 1st quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank's stock valued at $310,000 after purchasing an additional 729 shares in the last quarter. Wedmont Private Capital grew its position in shares of Sumitomo Mitsui Financial Group by 4.9% during the first quarter. Wedmont Private Capital now owns 17,160 shares of the bank's stock worth $265,000 after buying an additional 801 shares in the last quarter. BSW Wealth Partners raised its holdings in Sumitomo Mitsui Financial Group by 4.4% in the first quarter. BSW Wealth Partners now owns 19,652 shares of the bank's stock valued at $304,000 after acquiring an additional 837 shares in the last quarter. D Orazio & Associates Inc. grew its holdings in 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 in the last quarter. Finally, Csenge Advisory Group raised its stake in shares of Sumitomo Mitsui Financial Group by 3.7% in the 1st quarter. Csenge Advisory Group now owns 25,173 shares of the bank's stock valued at $389,000 after purchasing an additional 903 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Up 1.8%

SMFG traded up $0.28 during trading on Friday, reaching $15.87. 864,883 shares of the stock traded hands, compared to its average volume of 1,864,657. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $16.74. The stock's 50-day simple moving average is $15.14 and its two-hundred day simple moving average is $14.85. The stock has a market cap of $102.72 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 0.68 and a beta of 0.41.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released 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. The firm had revenue of $16.41 billion during the quarter, compared to analysts' expectations of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. As a group, equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd.

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.