Raymond James Financial Inc. Makes New $1.59 Million Investment in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Raymond James Financial Inc. bought a new position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 109,419 shares of the bank's stock, valued at approximately $1,585,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in shares of Sumitomo Mitsui Financial Group by 2.8% during the 4th quarter. M&T Bank Corp now owns 51,196 shares of the bank's stock worth $742,000 after purchasing an additional 1,409 shares during the last quarter. Assetmark Inc. boosted its stake in Sumitomo Mitsui Financial Group by 114.5% during the fourth quarter. Assetmark Inc. now owns 18,741 shares of the bank's stock worth $272,000 after buying an additional 10,003 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 18.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 482,783 shares of the bank's stock valued at $6,996,000 after acquiring an additional 76,862 shares during the last quarter. Bailard Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $372,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 83.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank's stock worth $616,000 after acquiring an additional 19,224 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

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Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Trading Down 9.7 %

SMFG traded down $1.46 during mid-day trading on Thursday, hitting $13.57. 2,505,832 shares of the stock were exchanged, compared to its average volume of 1,205,074. The firm's fifty day moving average is $15.37 and its two-hundred day moving average is $14.33. Sumitomo Mitsui Financial Group, Inc. has a 1-year low of $10.74 and a 1-year high of $16.74. The company has a market cap of $87.82 billion, a PE ratio of 13.17, a PEG ratio of 2.36 and a beta of 0.59. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94.

About Sumitomo Mitsui Financial Group

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.