Federated Hermes Inc. Grows Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Federated Hermes Inc. increased its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 67.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 424,283 shares of the bank’s stock after purchasing an additional 170,789 shares during the quarter. Federated Hermes Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $7,102,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 137.4% in the second quarter. Fisher Asset Management LLC now owns 1,357,193 shares of the bank’s stock worth $20,507,000 after buying an additional 785,443 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in Sumitomo Mitsui Financial Group by 606.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock valued at $10,724,000 after purchasing an additional 609,212 shares during the period. Westfield Capital Management Co. LP bought a new stake in Sumitomo Mitsui Financial Group during the second quarter valued at about $8,188,000. Massar Capital Management LP purchased a new stake in Sumitomo Mitsui Financial Group in the second quarter worth about $7,555,000. Finally, Osaic Holdings Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 846.2% in the second quarter. Osaic Holdings Inc. now owns 548,474 shares of the bank’s stock worth $8,465,000 after buying an additional 490,506 shares during the period. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Trading Up 0.5%

Shares of SMFG opened at $21.10 on Tuesday. The firm has a market cap of $135.24 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.10 and a beta of 0.36. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.04 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a 1 year low of $11.83 and a 1 year high of $21.54. The company has a 50 day simple moving average of $19.71 and a two-hundred day simple moving average of $17.49.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The company had revenue of $17.71 billion for the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.34% and a net margin of 13.81%. On average, equities analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SMFG has been the subject of a number of recent research reports. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sumitomo Mitsui Financial Group currently has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Company 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.