SVB Wealth LLC Invests $297,000 in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

SVB Wealth LLC acquired a new stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,494 shares of the bank’s stock, valued at approximately $297,000.

Several other institutional investors have also added to or reduced their stakes in SMFG. FMR LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 5.0% during the 3rd quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after buying an additional 342,604 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Sumitomo Mitsui Financial Group by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank’s stock worth $17,302,000 after acquiring an additional 517,179 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Sumitomo Mitsui Financial Group by 139.7% in the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank’s stock worth $10,807,000 after acquiring an additional 434,728 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 76.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank’s stock worth $8,301,000 after acquiring an additional 249,543 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of Sumitomo Mitsui Financial Group by 23.5% in the 3rd quarter. Quantinno Capital Management LP now owns 546,173 shares of the bank’s stock valued at $6,898,000 after purchasing an additional 103,810 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG opened at $15.47 on Thursday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group, Inc. has a fifty-two week low of $10.74 and a fifty-two week high of $15.83. The company has a 50 day simple moving average of $14.90 and a two-hundred day simple moving average of $13.97. The company has a market capitalization of $101.15 billion, a PE ratio of 15.01, a P/E/G ratio of 2.36 and a beta of 0.63.

Analysts Set New Price Targets

Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Wednesday.

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.