Invesco Ltd. Has $14.20 Million Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Invesco Ltd. has reduced its stake in Sumitomo Mitsui Financial Group Inc by 9.4%, selling 95,646 shares during the first quarter, leaving them with 918,290 shares valued at approximately $14.2 million.
• Other hedge funds, including Clark Capital Management Group and Northern Trust Corp, significantly increased their holdings in the same period, indicating a varying trend in institutional investments.
• Sumitomo Mitsui Financial Group's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $0.40 against an anticipated $0.31, with a total revenue of $16.41 billion for the quarter.

Invesco Ltd. decreased its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 9.4% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 918,290 shares of the bank's stock after selling 95,646 shares during the period. Invesco Ltd.'s holdings in Sumitomo Mitsui Financial Group were worth $14,197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $25,000. Private Trust Co. NA boosted its stake in Sumitomo Mitsui Financial Group by 1,044.1% in the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after purchasing an additional 2,130 shares during the period. Park Square Financial Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $34,000. Financial Management Professionals Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 88.3% during the 1st quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock valued at $37,000 after buying an additional 1,127 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Up 0.1%

Shares of SMFG stock traded up $0.02 on Thursday, hitting $16.53. The company's stock had a trading volume of 6,995,595 shares, compared to its average volume of 1,947,875. 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 $17.46. The firm's fifty day moving average price is $15.56 and its 200-day moving average price is $15.02. The stock has a market capitalization of $107.00 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 0.73 and a beta of 0.41.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, beating 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. Research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".

About Sumitomo Mitsui Financial Group

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.