Pinnacle Wealth Planning Services Inc. Has $455,000 Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Pinnacle Wealth Planning Services Inc. trimmed its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 20.8% during the fourth quarter, HoldingsChannel reports. The fund owned 31,434 shares of the bank’s stock after selling 8,263 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $455,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SMFG. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $151,000. Blue Trust Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 35.7% during the fourth quarter. Blue Trust Inc. now owns 52,164 shares of the bank’s stock worth $756,000 after acquiring an additional 13,721 shares during the period. BSW Wealth Partners raised its holdings in shares of Sumitomo Mitsui Financial Group by 6.6% during the fourth quarter. BSW Wealth Partners now owns 18,815 shares of the bank’s stock worth $273,000 after acquiring an additional 1,170 shares during the period. Caprock Group LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 1.5% during the fourth quarter. Caprock Group LLC now owns 130,770 shares of the bank’s stock worth $1,895,000 after acquiring an additional 1,927 shares during the period. Finally, Capital Insight Partners LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 59.9% during the fourth quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank’s stock worth $712,000 after acquiring an additional 18,415 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd.

Sumitomo Mitsui Financial Group Stock Up 1.3%

Sumitomo Mitsui Financial Group stock opened at $15.13 on Tuesday. The company has a market cap of $97.95 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 2.36 and a beta of 0.40. Sumitomo Mitsui Financial Group, Inc. has a 1-year low of $10.74 and a 1-year high of $16.74. The company has a fifty day simple moving average of $14.24 and a 200 day simple moving average of $14.61. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The business had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 12.61% and a return on equity of 8.52%. Research analysts anticipate 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.