Sumitomo Mitsui Financial Group Inc $SMFG Shares Acquired by PDS Planning Inc

PDS Planning Inc grew its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 2.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,050 shares of the bank’s stock after buying an additional 1,051 shares during the period. PDS Planning Inc’s holdings in Sumitomo Mitsui Financial Group were worth $711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of SMFG. Calamos Wealth Management LLC acquired a new stake in Sumitomo Mitsui Financial Group during the first quarter worth about $2,706,000. Charles Schwab Investment Management Inc. increased its position in Sumitomo Mitsui Financial Group by 20.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 579,277 shares of the bank’s stock worth $8,956,000 after purchasing an additional 96,494 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Sumitomo Mitsui Financial Group by 15.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 665,949 shares of the bank’s stock worth $10,043,000 after purchasing an additional 89,464 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Sumitomo Mitsui Financial Group by 6.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank’s stock worth $29,737,000 after purchasing an additional 119,818 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in 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 worth $174,255,000 after purchasing an additional 53,612 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Trading Down 5.4%

Shares of SMFG stock opened at $15.19 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $97.62 billion, a PE ratio of 15.98, a price-to-earnings-growth ratio of 0.74 and a beta of 0.37. The company has a 50-day moving average of $16.46 and a two-hundred day moving average of $15.24. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $17.46.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. The company had revenue of $16.41 billion during the quarter, compared to analyst estimates of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. On average, analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.