Versant Capital Management Inc Acquires 30,741 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Versant Capital Management Inc grew its position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 1,473.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 32,827 shares of the bank's stock after acquiring an additional 30,741 shares during the period. Versant Capital Management Inc's holdings in Sumitomo Mitsui Financial Group were worth $508,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC increased its holdings in Sumitomo Mitsui Financial Group by 76.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank's stock valued at $8,301,000 after purchasing an additional 249,543 shares during the period. Capital Insight Partners LLC increased its holdings in Sumitomo Mitsui Financial Group by 59.9% in the fourth 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 increased its holdings in Sumitomo Mitsui Financial Group by 83.3% in the fourth 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 increased its holdings in Sumitomo Mitsui Financial Group by 139.7% in the fourth 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 holdings in Sumitomo Mitsui Financial Group by 18.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 482,783 shares of the bank's stock valued at $6,996,000 after purchasing an additional 76,862 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Sumitomo Mitsui Financial Group Trading Down 0.6%

Sumitomo Mitsui Financial Group stock traded down $0.10 during trading hours on Tuesday, reaching $15.36. 1,288,720 shares of the company's stock were exchanged, compared to its average volume of 1,821,968. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94. The firm's 50 day simple moving average is $14.14 and its 200 day simple moving average is $14.66. Sumitomo Mitsui Financial Group, Inc. has a twelve month low of $10.74 and a twelve month high of $16.74. The firm has a market capitalization of $99.44 billion, a PE ratio of 14.91, a PEG ratio of 2.36 and a beta of 0.40.

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

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.