Sumitomo Mitsui Financial Group Inc $SMFG Shares Acquired by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors increased its SMFG stake by 7.6% in the first quarter, acquiring 217,929 additional shares and bringing its holdings to 3.09 million shares valued at approximately $61 million.
• SMFG shares opened at $25.93, near their 52-week high of $26.67, after reporting quarterly EPS of $0.49 on $8.71 billion in revenue. Analysts expect full-year EPS of $1.86.
• Recent analyst upgrades from Weiss Ratings and Zacks Research helped give Sumitomo Mitsui Financial Group a current consensus rating of “Strong Buy.”

Dimensional Fund Advisors LP increased its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,090,741 shares of the bank's stock after buying an additional 217,929 shares during the period. Dimensional Fund Advisors LP's holdings in Sumitomo Mitsui Financial Group were worth $61,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SMFG. Ascentis Independent Advisors acquired a new stake in Sumitomo Mitsui Financial Group in the 1st quarter valued at about $27,000. Sound Income Strategies LLC grew its stake in Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank's stock worth $30,000 after acquiring an additional 610 shares during the period. Bayban acquired a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at $30,000. Cornerstone Planning Group LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 3,149.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank's stock worth $33,000 after acquiring an additional 1,543 shares during the period. Finally, Park Square Financial Group LLC grew its holdings in Sumitomo Mitsui Financial Group by 58.0% in the fourth quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank's stock valued at $31,000 after purchasing an additional 598 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $25.93 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.92 and a fifty-two week high of $26.67. The business has a 50 day moving average price of $24.46 and a two-hundred day moving average price of $22.36. The firm has a market cap of $165.41 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.99 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its earnings results on Tuesday, June 30th. The bank reported $0.49 EPS for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%.The company had revenue of $8.71 billion during the quarter. Sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, July 1st. Zacks Research upgraded Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat, Sumitomo Mitsui Financial Group presently has a consensus rating of "Strong 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.

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