HB Wealth Management LLC Acquires 9,123 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

HB Wealth Management LLC increased its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 49.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,452 shares of the bank’s stock after purchasing an additional 9,123 shares during the period. HB Wealth Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $415,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Private Trust Co. NA lifted its stake in Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank’s stock valued at $36,000 after buying an additional 2,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth $42,000. Geneos Wealth Management Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 41.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after acquiring an additional 930 shares during the period. TD Private Client Wealth LLC lifted its position in Sumitomo Mitsui Financial Group by 823.7% in the 1st quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank’s stock valued at $64,000 after acquiring an additional 3,690 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in Sumitomo Mitsui Financial Group by 654.7% in the 1st quarter. Brooklyn Investment Group now owns 5,947 shares of the bank’s stock valued at $92,000 after acquiring an additional 5,159 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SMFG has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Saturday, September 27th. Nomura Securities raised Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Sumitomo Mitsui Financial Group presently has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Trading Up 1.7%

Shares of Sumitomo Mitsui Financial Group stock opened at $16.57 on Monday. The stock has a market cap of $106.50 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.80 and a beta of 0.37. The company has a quick ratio of 1.03, a current 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 $17.46. The business’s 50 day moving average is $16.39 and its 200-day moving average is $15.24.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $16.41 billion during the quarter, compared to analysts’ expectations of $1,094.67 billion. Equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

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.