Sumitomo Mitsui Financial Group Inc $SMFG Stock Holdings Lifted by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 137.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,357,193 shares of the bank’s stock after acquiring an additional 785,443 shares during the quarter. Fisher Asset Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $20,507,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SMFG. Avantax Advisory Services Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 22.7% during the first quarter. Avantax Advisory Services Inc. now owns 32,499 shares of the bank’s stock valued at $502,000 after purchasing an additional 6,005 shares during the last quarter. LPL Financial LLC raised its holdings in Sumitomo Mitsui Financial Group by 37.0% during the 1st quarter. LPL Financial LLC now owns 445,354 shares of the bank’s stock worth $6,885,000 after buying an additional 120,362 shares during the period. Blair William & Co. IL acquired a new stake in Sumitomo Mitsui Financial Group during the 1st quarter worth about $378,000. Charles Schwab Investment Management Inc. lifted its stake in Sumitomo Mitsui Financial Group by 20.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 579,277 shares of the bank’s stock valued at $8,956,000 after buying an additional 96,494 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in shares of Sumitomo Mitsui Financial Group in the first quarter worth about $42,000. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SMFG shares. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 8th. Zacks Research cut shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Performance

SMFG stock opened at $18.58 on Thursday. The firm has a 50 day simple moving average of $16.61 and a 200 day simple moving average of $16.00. Sumitomo Mitsui Financial Group Inc has a 52 week low of $11.83 and a 52 week high of $18.99. The stock has a market cap of $119.42 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.89 and a beta of 0.37. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.03 and a current ratio of 1.04.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Friday, November 14th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a net margin of 13.80% and a return on equity of 9.14%. The firm had revenue of $8.15 billion for the quarter, compared to analyst estimates of $7.41 billion. Research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal 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.