Pinnacle Wealth Planning Services Inc. Has $538,000 Position in Sumitomo Mitsui Financial Group Inc $SMFG

Pinnacle Wealth Planning Services Inc. increased its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,578 shares of the bank’s stock after acquiring an additional 3,335 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 0.5% during the first quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank’s stock valued at $174,255,000 after purchasing an additional 53,612 shares during the period. Clark Capital Management Group Inc. increased its position in Sumitomo Mitsui Financial Group by 1.8% in the 1st quarter. Clark Capital Management Group Inc. now owns 6,496,260 shares of the bank’s stock valued at $100,432,000 after buying an additional 111,952 shares in the last quarter. Northern Trust Corp raised its stake in Sumitomo Mitsui Financial Group by 3.2% during the 1st quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock worth $80,219,000 after buying an additional 159,320 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 19.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock worth $34,789,000 after acquiring an additional 378,909 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Sumitomo Mitsui Financial Group by 5.9% in the first quarter. American Century Companies Inc. now owns 1,605,115 shares of the bank’s stock valued at $24,815,000 after acquiring an additional 89,792 shares during the period. 3.85% of the stock is owned by institutional investors.

Sumitomo Mitsui Financial Group Stock Down 2.5%

Shares of NYSE:SMFG opened at $16.89 on Wednesday. The business’s 50 day moving average is $16.41 and its 200 day moving average is $15.74. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $17.58. The stock has a market cap of $108.55 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 0.78 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75.

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SMFG shares. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

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.