Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its stake in Sumitomo Mitsui Financial Group by 15.5% in the first quarter, owning 255,579 shares valued at approximately $3.95 million.
• Sumitomo Mitsui Financial Group reported an EPS of $0.40 for the last quarter, surpassing analyst expectations of $0.31, with a total revenue of $16.41 billion.
• Several research firms have upgraded their ratings for Sumitomo Mitsui Financial Group, with Wall Street Zen moving from a "sell" to a "hold" and Nomura Securities assigning a "strong-buy" rating.

Cetera Investment Advisers raised its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 15.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,579 shares of the bank's stock after buying an additional 34,257 shares during the quarter. Cetera Investment Advisers' holdings in Sumitomo Mitsui Financial Group were worth $3,951,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SMFG. Avantax Advisory Services Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 22.7% in the 1st quarter. Avantax Advisory Services Inc. now owns 32,499 shares of the bank's stock valued at $502,000 after buying an additional 6,005 shares during the period. Abel Hall LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the 1st quarter valued at $221,000. Lindbrook Capital LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 3.8% during the 1st quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank's stock worth $310,000 after purchasing an additional 729 shares during the last quarter. Csenge Advisory Group grew its stake in shares of Sumitomo Mitsui Financial Group by 3.7% during the first quarter. Csenge Advisory Group now owns 25,173 shares of the bank's stock worth $389,000 after purchasing an additional 903 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its stake in Sumitomo Mitsui Financial Group by 26.8% in the first quarter. Diversify Advisory Services LLC now owns 20,664 shares of the bank's stock valued at $296,000 after buying an additional 4,365 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SMFG shares. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG traded down $0.04 during trading hours on Tuesday, reaching $15.21. 1,797,056 shares of the company's stock were exchanged, compared to its average volume of 2,153,268. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.81 and a 1-year high of $16.74. The firm has a market capitalization of $98.45 billion, a price-to-earnings ratio of 16.01, a P/E/G ratio of 0.67 and a beta of 0.41. The company has a 50-day moving average of $15.13 and a 200 day moving average of $14.84. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $16.41 billion during the quarter, compared to analysts' expectations of $1,094.67 billion. Research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

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.