Moran Wealth Management LLC Sells 57,161 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Moran Wealth Management LLC cut its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 15.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 301,575 shares of the bank’s stock after selling 57,161 shares during the quarter. Moran Wealth Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $4,662,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of SMFG. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at about $25,000. Bessemer Group Inc. lifted its position in shares of Sumitomo Mitsui Financial Group by 138.1% during the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after buying an additional 1,119 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $34,000. Financial Management Professionals Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 88.3% in the 1st quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank’s stock worth $37,000 after buying an additional 1,127 shares during the last quarter. Finally, TD Waterhouse Canada Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 2,178.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock valued at $45,000 after acquiring an additional 2,963 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

NYSE SMFG opened at $14.90 on Thursday. The business’s fifty day moving average is $14.61 and its 200-day moving average is $14.72. The stock has a market capitalization of $96.46 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.67 and a beta of 0.40. Sumitomo Mitsui Financial Group Inc has a one year low of $10.74 and a one year high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 7.96% and a net margin of 11.57%. Research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, June 14th.

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.