Allspring Global Investments Holdings LLC Has $11.91 Million Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Allspring Global Investments Holdings LLC lessened its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 575,259 shares of the bank’s stock after selling 34,669 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Sumitomo Mitsui Financial Group were worth $11,908,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SMFG. AQR Capital Management LLC raised its position in Sumitomo Mitsui Financial Group by 26.0% in the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after buying an additional 36,522 shares during the last quarter. Focus Partners Wealth boosted its position in Sumitomo Mitsui Financial Group by 40.5% during the 1st quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock worth $282,000 after acquiring an additional 5,258 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 41.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after acquiring an additional 930 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 336.4% during the 1st quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock worth $610,000 after acquiring an additional 30,506 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 43.9% in the second quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after purchasing an additional 9,876 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG opened at $25.89 on Wednesday. The firm has a market capitalization of $165.18 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 0.96 and a beta of 0.42. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. The firm’s fifty day moving average price is $23.90 and its two-hundred day moving average price is $22.04. Sumitomo Mitsui Financial Group Inc has a 1 year low of $14.86 and a 1 year high of $26.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The company had revenue of $7.31 billion during the quarter. As a group, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.86 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Zacks Research cut shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Moderate Buy”.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.