Sumitomo Mitsui Financial Group Inc $SMFG Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 16.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,036,709 shares of the bank’s stock after purchasing an additional 294,124 shares during the period. American Century Companies Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $34,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC raised its stake in Sumitomo Mitsui Financial Group by 2.6% in the third quarter. Pzena Investment Management LLC now owns 24,687 shares of the bank’s stock valued at $413,000 after buying an additional 635 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Sumitomo Mitsui Financial Group by 2.1% during the third quarter. Versant Capital Management Inc now owns 31,219 shares of the bank’s stock valued at $523,000 after acquiring an additional 656 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 5.8% in the 3rd quarter. Envestnet Portfolio Solutions Inc. now owns 12,291 shares of the bank’s stock valued at $206,000 after purchasing an additional 678 shares during the last quarter. Canopy Partners LLC boosted its stake in Sumitomo Mitsui Financial Group by 6.5% in the 3rd quarter. Canopy Partners LLC now owns 13,368 shares of the bank’s stock worth $224,000 after purchasing an additional 810 shares in the last quarter. Finally, Bailard Inc. grew its position in Sumitomo Mitsui Financial Group by 3.1% during the 2nd quarter. Bailard Inc. now owns 28,246 shares of the bank’s stock worth $427,000 after purchasing an additional 842 shares during the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Finally, Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $20.10 on Friday. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $24.33. The company’s 50 day moving average is $21.43 and its 200 day moving average is $18.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. The company has a market cap of $128.22 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.78 and a beta of 0.34.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Friday, January 30th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The business had revenue of $17.71 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. On average, sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.