Allspring Global Investments Holdings LLC Has $8.30 Million Stock Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Allspring Global Investments Holdings LLC grew its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 76.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576,485 shares of the bank’s stock after buying an additional 249,543 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Sumitomo Mitsui Financial Group were worth $8,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 12.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock valued at $5,127,000 after buying an additional 45,761 shares during the period. Crossmark Global Holdings Inc. raised its stake in Sumitomo Mitsui Financial Group by 21.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 493,977 shares of the bank’s stock valued at $6,239,000 after acquiring an additional 87,993 shares during the period. Capital Insight Partners LLC lifted its holdings in Sumitomo Mitsui Financial Group by 59.9% during the fourth quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank’s stock valued at $712,000 after purchasing an additional 18,415 shares during the last quarter. Cerity Partners LLC boosted its position in Sumitomo Mitsui Financial Group by 31.7% during the third quarter. Cerity Partners LLC now owns 353,043 shares of the bank’s stock worth $4,459,000 after purchasing an additional 84,989 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Sumitomo Mitsui Financial Group by 60.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank’s stock worth $17,302,000 after buying an additional 517,179 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Stock Up 3.1 %

Shares of SMFG opened at $15.60 on Wednesday. The firm has a market cap of $102.01 billion, a P/E ratio of 15.14, a P/E/G ratio of 2.27 and a beta of 0.63. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $10.58 and a 1 year high of $15.69. The stock has a 50 day simple moving average of $14.67 and a two-hundred day simple moving average of $13.73. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

Sumitomo Mitsui Financial Group 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.