Sumitomo Mitsui Financial Group Inc $SMFG Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Sumitomo Mitsui Financial Group by 3.2% in Q1, owning over 5.1 million shares valued at approximately $80.2 million.
• Multiple institutional investors have boosted their positions in SMFG, with Clark Capital Management increasing their stake by 26.9%, and Natixis Advisors raising theirs by 59.8% in the same quarter.
• Sumitomo Mitsui Financial Group reported better-than-expected earnings with an EPS of $0.40 for the last quarter, surpassing the consensus estimate of $0.31.

Northern Trust Corp boosted its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,188,817 shares of the bank's stock after buying an additional 159,320 shares during the period. Northern Trust Corp owned 0.08% of Sumitomo Mitsui Financial Group worth $80,219,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SMFG. Clark Capital Management Group Inc. increased its position in Sumitomo Mitsui Financial Group by 26.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank's stock worth $92,509,000 after buying an additional 1,355,287 shares during the period. Natixis Advisors LLC increased its position in Sumitomo Mitsui Financial Group by 59.8% during the first quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank's stock worth $22,250,000 after buying an additional 538,823 shares during the period. First Trust Advisors LP acquired a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $4,484,000. Silvercrest Asset Management Group LLC acquired a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $3,511,000. Finally, Parr Mcknight Wealth Management Group LLC acquired a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $3,508,000. Institutional investors and hedge funds own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

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

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock opened at $16.7850 on Monday. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $17.46. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $15.43 and a 200-day simple moving average of $14.97. The stock has a market capitalization of $108.68 billion, a PE ratio of 17.67, a price-to-earnings-growth ratio of 0.74 and a beta of 0.41.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The business had revenue of $16.41 billion during the quarter, compared to analysts' expectations of $1,094.67 billion. 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.

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