Diversify Wealth Management LLC Purchases 33,410 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Diversify Wealth Management LLC lifted its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 38.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,247 shares of the bank’s stock after purchasing an additional 33,410 shares during the period. Diversify Wealth Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. bought a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter valued at approximately $33,801,000. Fifth Third Bancorp lifted its holdings in shares of Sumitomo Mitsui Financial Group by 21.1% in the first quarter. Fifth Third Bancorp now owns 4,243 shares of the bank’s stock worth $84,000 after buying an additional 738 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 54.1% during the first quarter. Sequoia Financial Advisors LLC now owns 152,886 shares of the bank’s stock worth $3,019,000 after acquiring an additional 53,655 shares during the last quarter. Kestra Advisory Services LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 158.7% during the first quarter. Kestra Advisory Services LLC now owns 25,037 shares of the bank’s stock worth $494,000 after acquiring an additional 15,360 shares during the last quarter. Finally, Personal CFO Solutions LLC grew its stake in Sumitomo Mitsui Financial Group by 6.6% during the first quarter. Personal CFO Solutions LLC now owns 19,777 shares of the bank’s stock valued at $391,000 after acquiring an additional 1,223 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Stock Up 0.8%

Shares of SMFG opened at $25.94 on Tuesday. The company has a market cap of $165.50 billion, a PE ratio of 19.36, a P/E/G ratio of 0.99 and a beta of 0.42. The business has a fifty day moving average of $23.41 and a 200 day moving average of $21.78. Sumitomo Mitsui Financial Group Inc has a 52-week low of $14.40 and a 52-week high of $26.03. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data 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 10.19%. The company had revenue of $7.31 billion for the quarter. On average, sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.87 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SMFG. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Weiss Ratings raised shares of Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. Finally, Zacks Research lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

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.