Raymond James & Associates Has $1.86 Million Stock Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Raymond James & Associates lowered its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating) by 1.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 338,045 shares of the bank’s stock after selling 3,283 shares during the quarter. Raymond James & Associates’ holdings in Sumitomo Mitsui Financial Group were worth $1,859,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SMFG. Goldman Sachs Group Inc. raised its stake in Sumitomo Mitsui Financial Group by 16.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 9,482,362 shares of the bank’s stock worth $55,947,000 after purchasing an additional 1,324,493 shares in the last quarter. Lazard Asset Management LLC raised its position in shares of Sumitomo Mitsui Financial Group by 0.8% in the first quarter. Lazard Asset Management LLC now owns 9,029,365 shares of the bank’s stock valued at $56,614,000 after buying an additional 69,960 shares in the last quarter. FMR LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 0.3% in the second quarter. FMR LLC now owns 4,473,511 shares of the bank’s stock valued at $26,393,000 after buying an additional 11,265 shares during the period. Invesco Ltd. grew its position in Sumitomo Mitsui Financial Group by 4,169.7% during the first quarter. Invesco Ltd. now owns 4,154,809 shares of the bank’s stock worth $26,051,000 after buying an additional 4,057,499 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in Sumitomo Mitsui Financial Group by 8,028.0% during the 2nd quarter. Jane Street Group LLC now owns 4,035,459 shares of the bank’s stock worth $23,809,000 after acquiring an additional 3,985,810 shares during the period. Institutional investors own 1.65% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock opened at $8.54 on Tuesday. The company has a debt-to-equity ratio of 1.95, a quick ratio of 1.03 and a current ratio of 1.05. Sumitomo Mitsui Financial Group, Inc. has a 52 week low of $5.39 and a 52 week high of $9.04. The stock has a market capitalization of $58.70 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 1.86 and a beta of 0.67. The stock has a fifty day moving average of $7.48 and a 200-day moving average of $6.47.

Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) last issued its earnings results on Monday, November 14th. The bank reported $0.29 EPS for the quarter, topping the consensus estimate of $0.17 by $0.12. Sumitomo Mitsui Financial Group had a return on equity of 6.88% and a net margin of 15.13%. The firm had revenue of $11.48 billion during the quarter. On average, sell-side analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on SMFG shares. Nomura reissued a “buy” rating on shares of Sumitomo Mitsui Financial Group in a report on Tuesday, November 1st. StockNews.com initiated coverage on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 12th. They set a “hold” rating for the company.

About Sumitomo Mitsui Financial Group

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Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.