Truist Financial Corp trimmed its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Free Report) by 20.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 394,379 shares of the bank’s stock after selling 102,693 shares during the period. Truist Financial Corp’s holdings in Sumitomo Mitsui Financial Group were worth $3,155,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Pitcairn Co. purchased a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth $102,000. Glassman Wealth Services raised its holdings in Sumitomo Mitsui Financial Group by 38.5% during the first quarter. Glassman Wealth Services now owns 5,036 shares of the bank’s stock valued at $40,000 after buying an additional 1,399 shares in the last quarter. Beverly Hills Private Wealth LLC raised its holdings in Sumitomo Mitsui Financial Group by 130.2% during the first quarter. Beverly Hills Private Wealth LLC now owns 50,557 shares of the bank’s stock valued at $404,000 after buying an additional 28,596 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Sumitomo Mitsui Financial Group during the first quarter valued at about $1,917,000. Finally, Quantinno Capital Management LP raised its holdings in Sumitomo Mitsui Financial Group by 42.6% during the first quarter. Quantinno Capital Management LP now owns 121,627 shares of the bank’s stock valued at $973,000 after buying an additional 36,342 shares in the last quarter. 1.59% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. StockNews.com assumed coverage on Sumitomo Mitsui Financial Group in a report on Thursday, May 18th. They set a “hold” rating on the stock. The Goldman Sachs Group lowered Sumitomo Mitsui Financial Group from a “buy” rating to a “neutral” rating in a report on Thursday, July 20th.
Sumitomo Mitsui Financial Group Trading Down 1.0 %
Sumitomo Mitsui Financial Group stock opened at $8.71 on Wednesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 1.06 and a current ratio of 1.06. The business’s 50-day simple moving average is $8.74 and its 200-day simple moving average is $8.48. The firm has a market capitalization of $58.22 billion, a PE ratio of 10.12, a PEG ratio of 1.90 and a beta of 0.69. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $5.39 and a 52 week high of $9.58.
Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Free Report) last posted its quarterly earnings data on Monday, May 15th. The bank reported $0.12 EPS for the quarter. The business had revenue of $13.32 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 6.62% and a net margin of 11.19%. Equities research analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.88 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.
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