Moran Wealth Management LLC Acquires 25,301 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Moran Wealth Management LLC raised its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 404,869 shares of the bank’s stock after buying an additional 25,301 shares during the quarter. Moran Wealth Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $7,996,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SMFG. PFS Partners LLC bought a new position in Sumitomo Mitsui Financial Group during the fourth quarter worth $27,000. Sound Income Strategies LLC boosted its holdings in Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after purchasing an additional 610 shares during the period. Bayban bought a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at $30,000. Cornerstone Planning Group LLC boosted its holdings in Sumitomo Mitsui Financial Group by 3,149.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank’s stock valued at $33,000 after purchasing an additional 1,543 shares during the period. Finally, Park Square Financial Group LLC grew its position in Sumitomo Mitsui Financial Group by 58.0% in the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after purchasing an additional 598 shares during the last quarter. 3.85% of the stock is owned by institutional investors.

Sumitomo Mitsui Financial Group Trading Up 0.1%

Shares of NYSE SMFG opened at $24.55 on Friday. The business has a fifty day simple moving average of $22.82 and a 200 day simple moving average of $21.50. The firm has a market capitalization of $156.58 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 0.66 and a beta of 0.42. Sumitomo Mitsui Financial Group Inc has a one year low of $14.40 and a one year high of $25.35.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The firm had revenue of $7.31 billion for the quarter. On average, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SMFG shares. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings raised Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.