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

Moran Wealth Management LLC raised its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 6.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 404,869 shares of the bank’s stock after purchasing 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 filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in Sumitomo Mitsui Financial Group by 26.0% in the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after buying an additional 36,522 shares in the last quarter. Focus Partners Wealth raised its stake in Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock worth $282,000 after acquiring an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. lifted 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 valued at $49,000 after acquiring an additional 930 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 336.4% during the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after acquiring an additional 30,506 shares during the period. Finally, Sivia Capital Partners LLC boosted its stake in shares of Sumitomo Mitsui Financial Group by 43.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after purchasing an additional 9,876 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $24.55 on Friday. The business has a fifty day moving average price of $22.82 and a 200 day moving average price of $21.50. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.40 and a fifty-two week high of $25.35. The stock has a market capitalization of $156.58 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 0.66 and a beta of 0.42.

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

Analyst Ratings Changes

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

Sumitomo Mitsui Financial Group Company Profile

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.