Sumitomo Mitsui Financial Group Inc $SMFG Stock Position Lifted by Vident Advisory LLC

Key Points

• Vident Advisory LLC has increased its holdings in Sumitomo Mitsui Financial Group by 21.8%, bringing its total to 111,138 shares valued at approximately $1.7 million.
• In the most recent quarter, other institutional investors also significantly boosted their stakes, with Northern Trust Corp increasing its position by 79.3%.
• Sumitomo Mitsui Financial Group reported earnings of $0.40 per share, surpassing analysts' estimates of $0.31, alongside a revenue of $16.41 billion for the quarter.

Vident Advisory LLC lifted its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 21.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,138 shares of the bank's stock after buying an additional 19,927 shares during the quarter. Vident Advisory LLC's holdings in Sumitomo Mitsui Financial Group were worth $1,718,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Lindbrook Capital LLC grew its holdings in Sumitomo Mitsui Financial Group by 3.8% in the 1st quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank's stock valued at $310,000 after buying an additional 729 shares during the period. Wedmont Private Capital grew its holdings in Sumitomo Mitsui Financial Group by 4.9% in the 1st quarter. Wedmont Private Capital now owns 17,160 shares of the bank's stock valued at $265,000 after buying an additional 801 shares during the period. BSW Wealth Partners grew its holdings in Sumitomo Mitsui Financial Group by 4.4% in the 1st quarter. BSW Wealth Partners now owns 19,652 shares of the bank's stock valued at $304,000 after buying an additional 837 shares during the period. D Orazio & Associates Inc. grew its holdings in Sumitomo Mitsui Financial Group by 8.5% in the 1st quarter. D Orazio & Associates Inc. now owns 11,105 shares of the bank's stock valued at $172,000 after buying an additional 867 shares during the period. Finally, Csenge Advisory Group grew its holdings in 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 buying an additional 903 shares during the period. Institutional investors and hedge funds own 3.85% of the company's stock.

Analyst Ratings Changes

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

SMFG traded down $0.17 during trading on Friday, reaching $16.46. 2,250,773 shares of the company were exchanged, compared to its average volume of 1,964,459. The stock has a market cap of $105.79 billion, a P/E ratio of 17.32, a PEG ratio of 0.73 and a beta of 0.39. The firm has a 50 day moving average of $15.73 and a 200 day moving average of $15.08. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. Sumitomo Mitsui Financial Group Inc has a 52 week low of $11.83 and a 52 week 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 analysts' consensus estimates of $0.31 by $0.09. The firm had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $1,094.67 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. On average, sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

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.