Northern Trust Corp Buys 159,320 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

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 increased its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 3.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,188,817 shares of the bank's stock after purchasing an additional 159,320 shares during the period. Northern Trust Corp owned approximately 0.08% of Sumitomo Mitsui Financial Group worth $80,219,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Brooklyn Investment Group boosted its stake in shares of Sumitomo Mitsui Financial Group by 654.7% in the 1st quarter. Brooklyn Investment Group now owns 5,947 shares of the bank's stock valued at $92,000 after purchasing an additional 5,159 shares in the last quarter. Seven Mile Advisory purchased a new stake in shares of Sumitomo Mitsui Financial Group in the 1st quarter valued at $155,000. American Century Companies Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 5.9% in the 1st quarter. American Century Companies Inc. now owns 1,605,115 shares of the bank's stock valued at $24,815,000 after purchasing an additional 89,792 shares in the last quarter. Boston Partners boosted its stake in shares of Sumitomo Mitsui Financial Group by 21.1% in the 1st quarter. Boston Partners now owns 421,483 shares of the bank's stock valued at $6,472,000 after purchasing an additional 73,299 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Sumitomo Mitsui Financial Group by 34.8% in the 1st quarter. Russell Investments Group Ltd. now owns 87,352 shares of the bank's stock valued at $1,350,000 after purchasing an additional 22,535 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Trading Down 0.6%

SMFG traded down $0.10 during trading on Friday, hitting $16.44. 1,610,064 shares of the stock traded hands, compared to its average volume of 2,099,361. The firm has a market capitalization of $106.42 billion, a P/E ratio of 17.30, a price-to-earnings-growth ratio of 0.73 and a beta of 0.41. 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 firm has a 50-day moving average of $15.60 and a 200 day moving average of $15.04. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $17.46.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings data 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 net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $16.41 billion during the quarter, compared to analyst estimates of $1,094.67 billion. Equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SMFG shares. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Buy".

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.