Capital Wealth Planning LLC Raises Position in Sumitomo Mitsui Financial Group Inc $SMFG

Capital Wealth Planning LLC boosted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 37.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,083,145 shares of the bank’s stock after buying an additional 296,280 shares during the quarter. Capital Wealth Planning LLC’s holdings in Sumitomo Mitsui Financial Group were worth $21,067,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFS Partners LLC purchased a new position in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. purchased a new position in Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $29,000. Sound Income Strategies LLC lifted its stake in Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after buying an additional 610 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Sumitomo Mitsui Financial Group by 163.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after buying an additional 1,227 shares in the last quarter. Finally, Park Square Financial Group LLC lifted its stake in Sumitomo Mitsui Financial Group by 58.0% in the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock valued at $31,000 after buying an additional 598 shares in the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Friday, May 22nd. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Finally, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

SMFG opened at $23.02 on Thursday. The company’s 50 day simple moving average is $21.68 and its two-hundred day simple moving average is $20.81. Sumitomo Mitsui Financial Group Inc has a 1-year low of $14.40 and a 1-year high of $24.33. The firm has a market capitalization of $146.82 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 0.62 and a beta of 0.43.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. The business had revenue of $7.31 billion for the quarter. On average, equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current fiscal year.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.