First Trust Advisors LP Buys New Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

First Trust Advisors LP acquired a new position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 309,458 shares of the bank's stock, valued at approximately $4,484,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 138.1% in the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock valued at $28,000 after purchasing an additional 1,119 shares during the period. Versant Capital Management Inc purchased a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $30,000. Richardson Financial Services Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 36.8% during the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock valued at $51,000 after acquiring an additional 940 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 29.5% during the 4th quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank's stock worth $79,000 after acquiring an additional 1,239 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter worth approximately $86,000. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Trading Up 0.8 %

Sumitomo Mitsui Financial Group stock traded up $0.11 during midday trading on Wednesday, reaching $14.03. The stock had a trading volume of 1,585,888 shares, compared to its average volume of 1,377,969. The stock's 50-day simple moving average is $14.47 and its 200 day simple moving average is $14.43. Sumitomo Mitsui Financial Group, Inc. has a twelve month low of $10.74 and a twelve month high of $16.74. 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 stock has a market capitalization of $90.80 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 2.36 and a beta of 0.40.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research report on Friday, March 21st.

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.