Federated Hermes Inc. Decreases Position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Federated Hermes Inc. decreased its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 71.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 277,281 shares of the bank’s stock after selling 687,320 shares during the quarter. Federated Hermes Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $2,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SMFG. XY Capital Ltd purchased a new stake in Sumitomo Mitsui Financial Group in the third quarter valued at approximately $6,678,000. FMR LLC lifted its stake in Sumitomo Mitsui Financial Group by 9.4% in the third quarter. FMR LLC now owns 6,960,908 shares of the bank’s stock valued at $68,565,000 after buying an additional 600,360 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Sumitomo Mitsui Financial Group by 93.3% in the third quarter. Qube Research & Technologies Ltd now owns 789,521 shares of the bank’s stock valued at $7,777,000 after buying an additional 381,034 shares during the last quarter. Ramirez Asset Management Inc. purchased a new stake in Sumitomo Mitsui Financial Group in the third quarter valued at approximately $3,739,000. Finally, QRG Capital Management Inc. purchased a new stake in Sumitomo Mitsui Financial Group in the third quarter valued at approximately $2,633,000. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock opened at $11.22 on Friday. Sumitomo Mitsui Financial Group, Inc. has a 12 month low of $7.79 and a 12 month high of $12.45. The business has a 50 day simple moving average of $11.45 and a 200-day simple moving average of $10.39. The stock has a market capitalization of $75.04 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 1.21 and a beta of 0.58.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Thursday, February 1st. The bank reported $0.38 EPS for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 7.27% and a net margin of 9.71%. The business had revenue of $14.95 billion during the quarter. As a group, equities research analysts anticipate that Sumitomo Mitsui Financial Group, Inc. will post 0.94 EPS for the current year.

Sumitomo Mitsui Financial Group Profile

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.