Fisher Asset Management LLC Boosts Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Fisher Asset Management LLC lifted its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,646,997 shares of the bank’s stock after purchasing an additional 122,562 shares during the period. Fisher Asset Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $31,836,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PFS Partners LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 3rd quarter worth approximately $29,000. Sound Income Strategies LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 76.8% during the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after purchasing an additional 610 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after purchasing an additional 1,227 shares during the last quarter. Finally, Park Square Financial Group LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 58.0% during the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after purchasing an additional 598 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Trading Up 1.1%

Sumitomo Mitsui Financial Group stock opened at $22.95 on Wednesday. Sumitomo Mitsui Financial Group Inc has a 1-year low of $14.40 and a 1-year high of $24.33. The firm has a market capitalization of $146.40 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 0.64 and a beta of 0.43. The firm has a 50 day simple moving average of $20.94 and a 200 day simple moving average of $20.34.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. The business had revenue of $7.31 billion during the quarter. On average, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SMFG. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

About Sumitomo Mitsui Financial Group

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.