Advisors Asset Management Inc. Raises Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Advisors Asset Management Inc. increased its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 22.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,101 shares of the bank’s stock after buying an additional 14,867 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $1,241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Apollon Wealth Management LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 4.9% in the second quarter. Apollon Wealth Management LLC now owns 13,807 shares of the bank’s stock worth $209,000 after acquiring an additional 651 shares during the period. Pinnacle Wealth Planning Services Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 2.6% in 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 during the last quarter. Bailard Inc. grew its position in Sumitomo Mitsui Financial Group by 3.1% during the 2nd quarter. Bailard Inc. now owns 28,246 shares of the bank’s stock worth $427,000 after purchasing an additional 842 shares during the period. Werba Rubin Papier Wealth Management raised its stake in shares of Sumitomo Mitsui Financial Group by 5.0% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 18,070 shares of the bank’s stock valued at $273,000 after buying an additional 864 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 41.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock valued at $49,000 after buying an additional 930 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on SMFG shares. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Trading Up 2.9%

Shares of SMFG stock opened at $18.36 on Monday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $118.04 billion, a price-to-earnings ratio of 19.33, a PEG ratio of 0.78 and a beta of 0.36. The stock has a 50 day simple moving average of $16.51 and a 200-day simple moving average of $15.92. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $18.23.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. The firm had revenue of $8.15 billion for the quarter, compared to analysts’ expectations of $7.41 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. On average, equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Sumitomo Mitsui Financial Group 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.