BB&T Corp Has $3.20 Million Stake in Sumitomo Mitsui Financial Group Inc (SMFG)

BB&T Corp lifted its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 184.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 415,257 shares of the bank’s stock after acquiring an additional 269,180 shares during the quarter. BB&T Corp’s holdings in Sumitomo Mitsui Financial Group were worth $3,201,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its holdings in Sumitomo Mitsui Financial Group by 3.7% during the 3rd quarter. Fisher Asset Management LLC now owns 50,794,116 shares of the bank’s stock valued at $391,623,000 after buying an additional 1,819,198 shares in the last quarter. Cambiar Investors LLC bought a new stake in Sumitomo Mitsui Financial Group during the 2nd quarter valued at about $183,454,000. Northern Trust Corp lifted its holdings in Sumitomo Mitsui Financial Group by 22.4% during the 2nd quarter. Northern Trust Corp now owns 8,576,126 shares of the bank’s stock valued at $67,408,000 after buying an additional 1,566,794 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Sumitomo Mitsui Financial Group by 7.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 5,169,056 shares of the bank’s stock valued at $40,629,000 after buying an additional 339,788 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Sumitomo Mitsui Financial Group by 79.1% during the 2nd quarter. Wells Fargo & Company MN now owns 4,425,847 shares of the bank’s stock valued at $34,787,000 after buying an additional 1,954,818 shares in the last quarter. Hedge funds and other institutional investors own 2.27% of the company’s stock.

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Shares of Sumitomo Mitsui Financial Group Inc (NYSE SMFG) opened at 8.13 on Friday. Sumitomo Mitsui Financial Group Inc has a one year low of $6.61 and a one year high of $8.30. The company has a market cap of $57.32 billion, a price-to-earnings ratio of 8.87 and a beta of 1.33. The company’s 50-day moving average is $7.75 and its 200-day moving average is $7.59.

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

A number of brokerages recently weighed in on SMFG. Zacks Investment Research lowered shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, September 7th. BidaskClub lowered shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, ValuEngine lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a report on Monday, August 28th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $8.25.

About Sumitomo Mitsui Financial Group

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.

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

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