Raymond James Financial Inc. Acquires New Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Raymond James Financial Inc. acquired a new stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 109,419 shares of the bank's stock, valued at approximately $1,585,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc purchased a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $30,000. Richardson Financial Services Inc. grew its position in shares of Sumitomo Mitsui Financial Group by 36.8% in the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank's stock valued at $51,000 after buying an additional 940 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in shares of Sumitomo Mitsui Financial Group by 29.5% in the 4th quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank's stock valued at $79,000 after buying an additional 1,239 shares during the last quarter. Sierra Ocean LLC acquired a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth $86,000. Finally, Parkside Financial Bank & Trust lifted its position in Sumitomo Mitsui Financial Group by 32.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank's stock valued at $115,000 after acquiring an additional 1,968 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG traded down $1.17 on Friday, reaching $12.40. The stock had a trading volume of 3,814,181 shares, compared to its average volume of 1,218,344. The stock has a market cap of $80.25 billion, a P/E ratio of 12.03, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41. Sumitomo Mitsui Financial Group, Inc. has a 12-month low of $10.74 and a 12-month high of $16.74. The business's 50-day moving average price is $15.30 and its 200 day moving average price is $14.35. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Friday, March 21st.

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.