Naviter Wealth LLC Purchases 5,911 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Naviter Wealth LLC raised its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,031 shares of the bank’s stock after buying an additional 5,911 shares during the quarter. Naviter Wealth LLC’s holdings in Sumitomo Mitsui Financial Group were worth $2,282,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. D Orazio & Associates Inc. increased its holdings in Sumitomo Mitsui Financial Group by 8.5% in the 1st quarter. D Orazio & Associates Inc. now owns 11,105 shares of the bank’s stock worth $172,000 after acquiring an additional 867 shares during the last quarter. Optas LLC boosted its position in Sumitomo Mitsui Financial Group by 7.5% during the first quarter. Optas LLC now owns 13,010 shares of the bank’s stock worth $201,000 after purchasing an additional 906 shares during the period. Mission Wealth Management LP increased its stake in shares of Sumitomo Mitsui Financial Group by 5.1% in the first quarter. Mission Wealth Management LP now owns 56,298 shares of the bank’s stock worth $870,000 after purchasing an additional 2,757 shares in the last quarter. Sowell Financial Services LLC raised its position in shares of Sumitomo Mitsui Financial Group by 17.2% in the first quarter. Sowell Financial Services LLC now owns 17,605 shares of the bank’s stock valued at $272,000 after purchasing an additional 2,590 shares during the period. Finally, Sagespring Wealth Partners LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 40.6% during the 1st quarter. Sagespring Wealth Partners LLC now owns 20,731 shares of the bank’s stock valued at $321,000 after buying an additional 5,990 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Friday, September 5th. Finally, Nomura Securities upgraded Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research note on Thursday, July 3rd. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

NYSE:SMFG opened at $15.33 on Tuesday. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $17.46. The stock has a fifty day moving average of $16.46 and a 200 day moving average of $15.23. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $98.52 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 0.74 and a beta of 0.37.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly 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. The firm had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $1,094.67 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. On average, research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Sumitomo Mitsui Financial Group Company 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.