Charles Schwab Investment Management Inc. Has $8.96 Million Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Charles Schwab Investment Management Inc increased its stake in Sumitomo Mitsui Financial Group Inc by 20% during the 1st quarter, owning 579,277 shares valued at approximately $8.96 million.
• Sumitomo Mitsui Financial Group reported $0.40 earnings per share (EPS) for the last quarter, exceeding consensus estimates of $0.31.
• Analysts have upgraded Sumitomo Mitsui Financial Group, with a current consensus rating of "Strong Buy", following various positive revisions by multiple investment firms.

Charles Schwab Investment Management Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 579,277 shares of the bank's stock after purchasing an additional 96,494 shares during the quarter. Charles Schwab Investment Management Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $8,956,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SMFG. Northern Trust Corp boosted its position in shares of Sumitomo Mitsui Financial Group by 79.3% in 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 during the period. Clark Capital Management Group Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 26.9% in 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 during the period. Natixis Advisors LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 59.8% in 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 during the period. First Trust Advisors LP bought a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at about $4,484,000. Finally, Silvercrest Asset Management Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at about $3,511,000. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Price Performance

SMFG traded down $0.10 on Friday, hitting $16.44. 1,610,064 shares of the stock were exchanged, compared to its average volume of 2,058,794. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $17.46. The business has a 50-day moving average of $15.60 and a two-hundred day moving average of $15.04. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $105.66 billion, a price-to-earnings ratio of 17.30, a PEG ratio of 0.73 and a beta of 0.39.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $16.41 billion during the quarter, compared to analysts' expectations of $1,094.67 billion. Sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

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

Sumitomo Mitsui Financial Group Company 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.