Calamos Wealth Management LLC Has $2.10 Million Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Calamos Wealth Management LLC has reduced its stake in Sumitomo Mitsui Financial Group by 20.6%, owning $2.10 million worth of shares after selling 36,108 shares in the second quarter.
• Sumitomo Mitsui Financial Group reported quarterly earnings of $0.40 per share, exceeding analyst expectations of $0.31, and had a return on equity of 7.88%.
• Institutional ownership of Sumitomo Mitsui Financial Group stands at 3.85%, with significant boosts in holdings from several hedge funds, including a 20.0% increase from Charles Schwab Investment Management.

Calamos Wealth Management LLC decreased its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,896 shares of the bank's stock after selling 36,108 shares during the quarter. Calamos Wealth Management LLC's holdings in Sumitomo Mitsui Financial Group were worth $2,099,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 20.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 579,277 shares of the bank's stock valued at $8,956,000 after acquiring an additional 96,494 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 15.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 665,949 shares of the bank's stock valued at $10,043,000 after acquiring an additional 89,464 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 6.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank's stock valued at $29,737,000 after acquiring an additional 119,818 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 0.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank's stock valued at $174,255,000 after acquiring an additional 53,612 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of Sumitomo Mitsui Financial Group by 1,044.1% during the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock valued at $36,000 after acquiring an additional 2,130 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Down 0.2%

SMFG stock opened at $15.76 on Friday. The stock's 50 day simple moving average is $16.47 and its 200 day simple moving average is $15.24. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $17.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $101.29 billion, a P/E ratio of 16.58, a price-to-earnings-growth ratio of 0.76 and a beta of 0.37.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%.The business had revenue of $16.41 billion for the quarter, compared to the consensus estimate of $1,094.67 billion. On average, research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SMFG has been the topic of several recent research reports. Nomura Securities raised Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 8th. Wall Street Zen raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Zacks Research raised Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Sumitomo Mitsui Financial Group has an average rating of "Buy".

Sumitomo Mitsui Financial Group 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.

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