305,762 Shares in Sumitomo Mitsui Financial Group Inc $SMFG Acquired by CCM Investment Advisers LLC

Key Points

• CCM Investment Advisers LLC acquired 305,762 shares of Sumitomo Mitsui Financial Group, valued at approximately $6.04 million. Several other major institutions, including Morgan Stanley, Goldman Sachs and Dimensional Fund Advisors, also increased their holdings; institutions collectively own 3.85% of the stock.
• Analyst sentiment improved, with Zacks Research upgrading SMFG to “strong buy” and Weiss Ratings raising its rating to “buy.” MarketBeat data shows an average rating of “Strong Buy.”
• SMFG shares opened at $25.75, near their 12-month high of $26.67, with a market capitalization of about $164.3 billion. The bank reported quarterly revenue of $7.31 billion, EPS of $0.18, a 15.68% net margin and a 10.19% return on equity.

CCM Investment Advisers LLC purchased a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 305,762 shares of the bank's stock, valued at approximately $6,039,000.

Other institutional investors have also added to or reduced their stakes in the company. Morgan Stanley raised its position in shares of Sumitomo Mitsui Financial Group by 1.9% during the fourth quarter. Morgan Stanley now owns 21,541,139 shares of the bank's stock valued at $416,390,000 after buying an additional 404,435 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Sumitomo Mitsui Financial Group by 1.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 10,997,774 shares of the bank's stock valued at $212,587,000 after acquiring an additional 161,026 shares during the last quarter. Northern Trust Corp increased its holdings in Sumitomo Mitsui Financial Group by 2.6% in the 3rd quarter. Northern Trust Corp now owns 5,743,128 shares of the bank's stock valued at $96,140,000 after acquiring an additional 147,963 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Sumitomo Mitsui Financial Group by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,090,741 shares of the bank's stock worth $61,042,000 after purchasing an additional 217,929 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Sumitomo Mitsui Financial Group by 0.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,151,904 shares of the bank's stock valued at $41,596,000 after purchasing an additional 19,520 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SMFG. Zacks Research raised Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Sumitomo Mitsui Financial Group from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat, Sumitomo Mitsui Financial Group currently has an average rating of "Strong Buy".

Sumitomo Mitsui Financial Group Stock Performance

Sumitomo Mitsui Financial Group stock opened at $25.75 on Friday. The company's 50-day moving average price is $24.40 and its 200-day moving average price is $22.34. Sumitomo Mitsui Financial Group Inc has a twelve month low of $14.92 and a twelve month high of $26.67. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.48. The company has a market cap of $164.30 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 0.96 and a beta of 0.42.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. The firm had revenue of $7.31 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. On average, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.86 EPS for the current fiscal year.

About Sumitomo Mitsui Financial Group

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.

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