Dorsey & Whitney Trust CO LLC Decreases Stock Position in Sumitomo Mitsui Financial Group Inc $SMFG

Dorsey & Whitney Trust CO LLC cut its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 1.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 75,465 shares of the bank’s stock after selling 792 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Sumitomo Mitsui Financial Group were worth $1,167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Calamos Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the first quarter valued at $2,706,000. Allspring Global Investments Holdings LLC raised its position in Sumitomo Mitsui Financial Group by 15.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 665,949 shares of the bank’s stock worth $10,043,000 after buying an additional 89,464 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Sumitomo Mitsui Financial Group by 6.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank’s stock valued at $29,737,000 after acquiring an additional 119,818 shares during the period. Private Trust Co. NA lifted its stake in Sumitomo Mitsui Financial Group by 1,044.1% during the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock valued at $36,000 after acquiring an additional 2,130 shares during the period. Finally, Bessemer Group Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 214.8% during the 1st quarter. Bessemer Group Inc. now owns 6,072 shares of the bank’s stock valued at $94,000 after acquiring an additional 4,143 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SMFG shares. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $16.7150 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $108.23 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.73 and a beta of 0.41. The firm’s 50 day moving average price is $15.37 and its 200-day moving average price is $14.95. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $17.46.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $1,094.67 billion. Equities research analysts expect 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.