Compound Planning Inc. Raises Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Compound Planning Inc. increased its stake in Sumitomo Mitsui Financial Group Inc by 52.2% during the first quarter, now holding 109,707 shares valued at approximately $1.70 million.
• Several institutional investors are actively acquiring shares in Sumitomo Mitsui, contributing to 3.85% institutional ownership of the stock.
• Sumitomo Mitsui Financial Group's stock has received a Strong Buy rating from analysts, with a current trading price of $16.7850 and a market cap of $108.68 billion.

Compound Planning Inc. lifted its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 52.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 109,707 shares of the bank's stock after purchasing an additional 37,641 shares during the period. Compound Planning Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $1,696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in SMFG. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group in the fourth quarter worth approximately $25,000. Park Square Financial Group LLC purchased a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth $34,000. Private Trust Co. NA lifted its stake in Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after acquiring an additional 2,130 shares during the period. Financial Management Professionals Inc. lifted its stake in Sumitomo Mitsui Financial Group by 88.3% in the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after acquiring an additional 1,127 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in Sumitomo Mitsui Financial Group in the first quarter worth $42,000. Institutional investors own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SMFG. Nomura Securities raised Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of "Strong Buy".

Sumitomo Mitsui Financial Group Stock Performance

Shares of SMFG stock traded down $0.23 during trading hours on Wednesday, reaching $16.53. 1,455,669 shares of the company traded hands, compared to its average volume of 1,862,640. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $17.46. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $107.00 billion, a P/E ratio of 17.39, a P/E/G ratio of 0.74 and a beta of 0.41. The firm has a 50-day moving average price of $15.50 and a 200 day moving average price of $15.00.

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, beating 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 firm had revenue of $16.41 billion for the quarter, compared to analysts' expectations of $1,094.67 billion. As a group, sell-side analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

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.