William Blair Investment Management LLC Sells 70,920 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

William Blair Investment Management LLC decreased its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 35.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,226 shares of the bank’s stock after selling 70,920 shares during the quarter. William Blair Investment Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $1,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA lifted its position in Sumitomo Mitsui Financial Group by 1,044.1% in the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock worth $36,000 after buying an additional 2,130 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Sumitomo Mitsui Financial Group in the 1st quarter worth approximately $42,000. Geneos Wealth Management Inc. lifted its position in Sumitomo Mitsui Financial Group by 41.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after buying an additional 930 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Sumitomo Mitsui Financial Group by 823.7% in the first quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank’s stock valued at $64,000 after purchasing an additional 3,690 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in Sumitomo Mitsui Financial Group by 654.7% in the first quarter. Brooklyn Investment Group now owns 5,947 shares of the bank’s stock valued at $92,000 after purchasing an additional 5,159 shares during the last quarter. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

Shares of Sumitomo Mitsui Financial Group stock opened at $16.25 on Tuesday. 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 company has a market cap of $104.44 billion, a PE ratio of 17.10, a P/E/G ratio of 0.76 and a beta of 0.37. The business has a 50 day moving average of $16.48 and a 200 day moving average of $15.28. Sumitomo Mitsui Financial Group Inc has a 52 week low of $11.83 and a 52 week 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. The company had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $1,094.67 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. As a group, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Wall Street Analyst Weigh In

SMFG has been the subject of several recent research reports. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

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.