Fisher Asset Management LLC Has $25.52 Million Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Fisher Asset Management LLC grew its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,524,435 shares of the bank’s stock after purchasing an additional 167,242 shares during the quarter. Fisher Asset Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $25,519,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Porfolio Solutions LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 606.2% during the second quarter. Orion Porfolio Solutions LLC now owns 709,707 shares of the bank’s stock worth $10,724,000 after purchasing an additional 609,212 shares during the period. Westfield Capital Management Co. LP bought a new position in Sumitomo Mitsui Financial Group during the second quarter worth about $8,188,000. Massar Capital Management LP bought a new position in Sumitomo Mitsui Financial Group during the second quarter worth about $7,555,000. Osaic Holdings Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 846.2% during the 2nd quarter. Osaic Holdings Inc. now owns 548,474 shares of the bank’s stock worth $8,465,000 after buying an additional 490,506 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 16.9% in the 3rd quarter. American Century Companies Inc. now owns 2,036,709 shares of the bank’s stock valued at $34,095,000 after acquiring an additional 294,124 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Trading Down 6.0%

SMFG opened at $20.69 on Wednesday. The stock has a market capitalization of $131.98 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.85 and a beta of 0.34. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.63. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $24.33. The firm’s fifty day simple moving average is $21.38 and its 200 day simple moving average is $18.54.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Friday, January 30th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.24). The firm had revenue of $17.71 billion during the quarter, compared to analyst estimates of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. As a group, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wall Street Zen raised 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 shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. One equities 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold”.

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.