Bank of New York Mellon Corp Grows Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Bank of New York Mellon Corp grew its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 139.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 745,849 shares of the bank’s stock after buying an additional 434,728 shares during the period. Bank of New York Mellon Corp’s holdings in Sumitomo Mitsui Financial Group were worth $10,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% in the 3rd quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock valued at $90,858,000 after acquiring an additional 342,604 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of 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 purchasing an additional 517,179 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 76.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock worth $8,301,000 after purchasing an additional 249,543 shares during the period. Quantinno Capital Management LP raised its holdings in Sumitomo Mitsui Financial Group by 23.5% during the 3rd quarter. Quantinno Capital Management LP now owns 546,173 shares of the bank’s stock valued at $6,898,000 after buying an additional 103,810 shares during the period. Finally, Crossmark Global Holdings Inc. lifted its position in Sumitomo Mitsui Financial Group by 0.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 498,398 shares of the bank’s stock worth $7,222,000 after buying an additional 4,421 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

Sumitomo Mitsui Financial Group stock opened at $15.48 on Friday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05. The firm has a market capitalization of $100.19 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59. Sumitomo Mitsui Financial Group, Inc. has a 1-year low of $10.74 and a 1-year high of $15.83. The company’s 50-day moving average is $14.99 and its 200 day moving average is $14.04.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research report on Thursday.

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.