Summit Global Investments Buys 65,641 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Summit Global Investments lifted its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 169.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,297 shares of the bank's stock after buying an additional 65,641 shares during the quarter. Summit Global Investments' holdings in Sumitomo Mitsui Financial Group were worth $1,612,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Sumitomo Mitsui Financial Group by 76.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank's stock valued at $8,301,000 after acquiring an additional 249,543 shares during the period. Capital Insight Partners LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 59.9% during the 4th quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank's stock valued at $712,000 after purchasing an additional 18,415 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 83.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank's stock valued at $616,000 after purchasing an additional 19,224 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Sumitomo Mitsui Financial Group by 139.7% during the 4th quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock valued at $10,807,000 after purchasing an additional 434,728 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 18.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 482,783 shares of the bank's stock valued at $6,996,000 after buying an additional 76,862 shares during the period. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock traded up $0.27 during midday trading on Friday, reaching $15.39. 1,516,448 shares of the stock were exchanged, compared to its average volume of 1,467,999. The company's fifty day moving average is $14.15 and its 200-day moving average is $14.64. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. The firm has a market cap of $99.64 billion, a PE ratio of 14.94, a PEG ratio of 2.36 and a beta of 0.40. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $10.74 and a 52 week high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 8.52% and a net margin of 12.61%. On average, sell-side analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS 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.