Ameriprise Financial Inc. Purchases 32,580 Shares of Sumitomo Mitsui Financial Group Inc (SMFG)

Ameriprise Financial Inc. raised its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 7.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 479,664 shares of the bank’s stock after buying an additional 32,580 shares during the period. Ameriprise Financial Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $3,773,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SMFG. Bank of New York Mellon Corp boosted its position in shares of Sumitomo Mitsui Financial Group by 43.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 519,041 shares of the bank’s stock valued at $4,079,000 after purchasing an additional 158,038 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Sumitomo Mitsui Financial Group by 79.1% in the second quarter. Wells Fargo & Company MN now owns 4,425,847 shares of the bank’s stock worth $34,787,000 after buying an additional 1,954,818 shares during the period. Gilbert & Cook Inc. acquired a new position in shares of Sumitomo Mitsui Financial Group in the second quarter worth about $187,000. BB&T Corp boosted its holdings in shares of Sumitomo Mitsui Financial Group by 49.9% in the second quarter. BB&T Corp now owns 146,077 shares of the bank’s stock worth $1,149,000 after buying an additional 48,597 shares during the period. Finally, Park Avenue Securities LLC bought a new position in Sumitomo Mitsui Financial Group during the second quarter valued at approximately $105,000. 2.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sumitomo Mitsui Financial Group Inc (NYSE SMFG) traded down $0.08 during trading hours on Friday, hitting $7.83. 709,500 shares of the stock traded hands, compared to its average volume of 1,208,438. Sumitomo Mitsui Financial Group Inc has a 52 week low of $6.93 and a 52 week high of $8.30. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $55,770.44, a P/E ratio of 7.61 and a beta of 1.35.

SMFG has been the topic of several recent research reports. BidaskClub lowered shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Saturday, August 26th. Finally, ValuEngine lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Sumitomo Mitsui Financial Group currently has an average rating of “Hold” and an average target price of $8.25.

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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.

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

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