Allspring Global Investments Holdings LLC Acquires 89,464 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 15.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 665,949 shares of the bank’s stock after purchasing an additional 89,464 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sumitomo Mitsui Financial Group were worth $10,043,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Capital A Wealth Management LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 4th quarter worth about $25,000. Bessemer Group Inc. increased its holdings in Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after acquiring an additional 1,119 shares during the last quarter. Park Square Financial Group LLC purchased a new position in Sumitomo Mitsui Financial Group during the 4th quarter valued at about $34,000. Financial Management Professionals Inc. grew its holdings in 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 in the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in Sumitomo Mitsui Financial Group by 2,178.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock valued at $45,000 after buying an additional 2,963 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th.

Sumitomo Mitsui Financial Group Price Performance

NYSE:SMFG opened at $15.38 on Friday. The business has a 50 day moving average of $14.80 and a 200 day moving average of $14.73. The company has a market capitalization of $99.27 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.66 and a beta of 0.39. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.74 and a 1-year high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data 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). Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.96%. The company had revenue of $16.55 billion during the quarter. As a group, sell-side analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current 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.