Eagle Asset Management Inc. Increases Position in Sumitomo Mitsui Financial Group Inc (SMFG)

Eagle Asset Management Inc. lifted its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 16.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,198 shares of the bank’s stock after purchasing an additional 6,277 shares during the quarter. Eagle Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in SMFG. Bank of Montreal Can grew its holdings in shares of Sumitomo Mitsui Financial Group by 4.9% during the 1st quarter. Bank of Montreal Can now owns 126,646 shares of the bank’s stock valued at $919,000 after purchasing an additional 5,862 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 44,568 shares of the bank’s stock valued at $323,000 after purchasing an additional 2,117 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Sumitomo Mitsui Financial Group by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 361,003 shares of the bank’s stock valued at $2,617,000 after purchasing an additional 5,125 shares during the last quarter. Suntrust Banks Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 26.6% during the 1st quarter. Suntrust Banks Inc. now owns 164,819 shares of the bank’s stock valued at $1,193,000 after purchasing an additional 34,680 shares during the last quarter. Finally, Comerica Bank grew its holdings in shares of Sumitomo Mitsui Financial Group by 2.7% during the 1st quarter. Comerica Bank now owns 436,690 shares of the bank’s stock valued at $3,301,000 after purchasing an additional 11,363 shares during the last quarter. 2.24% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the stock. BidaskClub lowered shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. UBS AG raised shares of Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a report on Wednesday, June 21st. ValuEngine lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating and set a $8.25 price target on the stock in a report on Saturday, August 26th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.25.

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Shares of Sumitomo Mitsui Financial Group Inc (NYSE SMFG) opened at 7.55 on Wednesday. Sumitomo Mitsui Financial Group Inc has a 12-month low of $6.39 and a 12-month high of $8.30. The firm’s 50-day moving average is $7.56 and its 200-day moving average is $7.52. The company has a market capitalization of $53.23 billion, a price-to-earnings ratio of 8.32 and a beta of 1.32.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Monday, July 31st. The bank reported $0.31 EPS for the quarter, topping the consensus estimate of $0.20 by $0.11. Sumitomo Mitsui Financial Group had a net margin of 14.43% and a return on equity of 6.95%. The firm had revenue of $12.25 billion for the quarter. On average, equities analysts predict that Sumitomo Mitsui Financial Group Inc will post $0.87 EPS for the current year.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.

Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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