Sumitomo Mitsui Financial Group Inc $SMFG Shares Purchased by Boston Partners

Key Points

• Boston Partners has increased its stake in Sumitomo Mitsui Financial Group by 21.1%, now holding 421,483 shares valued at approximately $6.47 million.
• Sumitomo Mitsui Financial Group reported an EPS of $0.40 for the last quarter, exceeding analyst expectations of $0.31.
• Nomura Securities has upgraded Sumitomo Mitsui Financial Group to a "strong-buy" rating, indicating increased confidence among analysts regarding the company's performance.

Boston Partners grew its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 21.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 421,483 shares of the bank's stock after acquiring an additional 73,299 shares during the period. Boston Partners' holdings in Sumitomo Mitsui Financial Group were worth $6,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SMFG. Northern Trust Corp raised its stake in shares of Sumitomo Mitsui Financial Group by 79.3% during the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock valued at $72,877,000 after acquiring an additional 2,224,913 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 26.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank's stock valued at $92,509,000 after acquiring an additional 1,355,287 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 59.8% during the first quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank's stock valued at $22,250,000 after acquiring an additional 538,823 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $4,484,000. Finally, Silvercrest Asset Management Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $3,511,000. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Price Performance

Shares of Sumitomo Mitsui Financial Group stock traded up $0.0950 during trading hours on Wednesday, reaching $16.7150. The stock had a trading volume of 1,474,629 shares, compared to its average volume of 1,874,877. The stock's 50 day moving average is $15.33 and its 200 day moving average is $14.94. The firm has a market capitalization of $108.23 billion, a PE ratio of 17.59, a PEG ratio of 0.75 and a beta of 0.41. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $17.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.09. The business had revenue of $16.41 billion during 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 expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMFG has been the subject of a number of recent research reports. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Sumitomo Mitsui Financial Group has an average 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.