Wetherby Asset Management Inc. increased its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 105,864 shares of the bank’s stock after buying an additional 2,578 shares during the period. Wetherby Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $832,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Suntrust Banks Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 26.6% in the first quarter. Suntrust Banks Inc. now owns 164,819 shares of the bank’s stock valued at $1,193,000 after buying an additional 34,680 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Sumitomo Mitsui Financial Group by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 361,003 shares of the bank’s stock valued at $2,617,000 after buying an additional 5,125 shares during the period. US Bancorp DE boosted its position in shares of Sumitomo Mitsui Financial Group by 17.6% in the first quarter. US Bancorp DE now owns 402,716 shares of the bank’s stock valued at $2,920,000 after buying an additional 60,261 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 4.5% in the first quarter. Checchi Capital Advisers LLC now owns 42,760 shares of the bank’s stock valued at $310,000 after buying an additional 1,849 shares during the period. Finally, HPM Partners LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the first quarter valued at about $282,000. Hedge funds and other institutional investors own 2.18% of the company’s stock.

Sumitomo Mitsui Financial Group Inc (NYSE SMFG) opened at 7.47 on Friday. The firm has a market cap of $52.67 billion, a PE ratio of 8.31 and a beta of 1.30. Sumitomo Mitsui Financial Group Inc has a 52-week low of $6.39 and a 52-week high of $8.30. The firm’s 50-day moving average price is $7.71 and its 200 day moving average price is $7.59.

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

COPYRIGHT VIOLATION WARNING: This article was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.watchlistnews.com/wetherby-asset-management-inc-buys-2578-shares-of-sumitomo-mitsui-financial-group-inc-smfg/1473697.html.

Several brokerages recently issued reports on SMFG. BidaskClub cut Sumitomo Mitsui Financial Group from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. ValuEngine upgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, UBS AG upgraded Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Sumitomo Mitsui Financial Group presently has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Company Profile

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.

Want to see what other hedge funds are holding SMFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sumitomo Mitsui Financial Group Inc (NYSE:SMFG).

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

Receive News & Ratings for Sumitomo Mitsui Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sumitomo Mitsui Financial Group Inc and related companies with Analyst Ratings Network's FREE daily email newsletter.