PNC Financial Services Group Inc. Grows Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

PNC Financial Services Group Inc. lifted its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 3.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 182,905 shares of the bank’s stock after acquiring an additional 5,352 shares during the period. PNC Financial Services Group Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $2,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Apollon Wealth Management LLC boosted its stake in Sumitomo Mitsui Financial Group by 4.9% during the second quarter. Apollon Wealth Management LLC now owns 13,807 shares of the bank’s stock valued at $209,000 after buying an additional 651 shares during the last quarter. Lindbrook Capital LLC raised its stake in Sumitomo Mitsui Financial Group by 3.8% during the first quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank’s stock valued at $310,000 after purchasing an additional 729 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in Sumitomo Mitsui Financial Group by 2.6% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 32,243 shares of the bank’s stock valued at $498,000 after purchasing an additional 809 shares in the last quarter. Werba Rubin Papier Wealth Management lifted its position in Sumitomo Mitsui Financial Group by 5.0% during the second quarter. Werba Rubin Papier Wealth Management now owns 18,070 shares of the bank’s stock valued at $273,000 after purchasing an additional 864 shares during the last quarter. Finally, Csenge Advisory Group grew its stake in shares of Sumitomo Mitsui Financial Group by 3.7% in the 1st quarter. Csenge Advisory Group now owns 25,173 shares of the bank’s stock worth $389,000 after buying an additional 903 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE:SMFG opened at $16.89 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $17.58. The company has a market capitalization of $108.55 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.78 and a beta of 0.36. The firm’s 50-day moving average is $16.41 and its 200 day moving average is $15.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $7.41 billion. Research analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Analyst Ratings Changes

SMFG has been the topic of several recent research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Wednesday, October 8th. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Zacks Research lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has an average rating of “Moderate Buy”.

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.