Allspring Global Investments Holdings LLC Sells 34,669 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Allspring Global Investments Holdings LLC trimmed its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 5.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 575,259 shares of the bank’s stock after selling 34,669 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sumitomo Mitsui Financial Group were worth $11,908,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. PFS Partners LLC acquired a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $27,000. Ascentis Independent Advisors acquired a new position in Sumitomo Mitsui Financial Group during the 1st quarter valued at about $27,000. Pin Oak Investment Advisors Inc. acquired a new position in Sumitomo Mitsui Financial Group during the 3rd quarter valued at about $29,000. Sound Income Strategies LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the last quarter. Finally, Bayban bought a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at about $30,000. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG stock opened at $25.89 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. Sumitomo Mitsui Financial Group Inc has a 12-month low of $14.86 and a 12-month high of $26.67. The firm has a fifty day moving average of $23.90 and a 200-day moving average of $22.04. The firm has a market capitalization of $165.18 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 0.96 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. The business had revenue of $7.31 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%. On average, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SMFG. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings upgraded 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 research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Profile

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.