Sumitomo Mitsui Financial Group Inc $SMFG Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 20.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 579,277 shares of the bank’s stock after purchasing an additional 96,494 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $8,956,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth $1,585,000. Guggenheim Capital LLC increased its stake in Sumitomo Mitsui Financial Group by 24.4% in the fourth quarter. Guggenheim Capital LLC now owns 19,090 shares of the bank’s stock valued at $277,000 after purchasing an additional 3,746 shares during the last quarter. First Trust Advisors LP acquired a new stake in Sumitomo Mitsui Financial Group in the 4th quarter worth about $4,484,000. Dimensional Fund Advisors LP boosted its stake in Sumitomo Mitsui Financial Group by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock worth $42,015,000 after buying an additional 33,783 shares during the last quarter. Finally, MML Investors Services LLC grew its holdings in Sumitomo Mitsui Financial Group by 23.5% in the 4th quarter. MML Investors Services LLC now owns 84,102 shares of the bank’s stock valued at $1,219,000 after buying an additional 16,030 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Trading Down 0.6%

Shares of SMFG opened at $16.7050 on Tuesday. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $17.46. The stock’s 50-day moving average is $15.46 and its two-hundred day moving average is $14.99. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $108.16 billion, a PE ratio of 17.58, a P/E/G ratio of 0.74 and a beta of 0.41.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.09. The firm had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. Equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on SMFG shares. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a “strong-buy” rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Sumitomo Mitsui Financial Group currently has a consensus rating of “Strong Buy”.

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.