Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Shares Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC raised its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 12.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,134 shares of the bank’s stock after purchasing an additional 2,515 shares during the quarter. Pzena Investment Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $342,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in Sumitomo Mitsui Financial Group by 16.5% during the fourth quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock valued at $121,474,000 after buying an additional 1,189,453 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 26.9% in the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock worth $92,509,000 after purchasing an additional 1,355,287 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Sumitomo Mitsui Financial Group by 79.3% in the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank’s stock worth $72,877,000 after purchasing an additional 2,224,913 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Sumitomo Mitsui Financial Group by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock valued at $42,015,000 after purchasing an additional 33,783 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 6.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank’s stock worth $29,737,000 after buying an additional 119,818 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $14.77 on Friday. Sumitomo Mitsui Financial Group Inc has a one year low of $10.74 and a one year high of $16.74. The firm has a 50-day moving average of $14.97 and a two-hundred day moving average of $14.77. The firm has a market capitalization of $95.33 billion, a PE ratio of 16.23, a P/E/G ratio of 0.64 and a beta of 0.39. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.64.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. The firm had revenue of $16.55 billion during the quarter. On average, analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

SMFG has been the subject of a number of recent research reports. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a research report on Friday, June 27th. Nomura Securities raised Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd.

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.