Sumitomo Mitsui Financial Group Inc $SMFG Shares Acquired by Moran Wealth Management LLC

Key Points

• Moran Wealth Management increased its stake in Sumitomo Mitsui Financial Group by 18.5% in Q4, buying 59,296 shares to hold 379,568 shares worth about $7.34 million.
• Several institutions also boosted positions (notably Tudor Investment +112.5%, American Century +16.9%, Federated Hermes +67.4%), and institutional investors now own roughly 3.85% of SMFG.
• SMFG reported a Q4 EPS miss ($0.16 vs. $0.40 expected); the stock has a $138.1B market cap and an average analyst rating of "Moderate Buy" (one Strong Buy, two Holds).

Moran Wealth Management LLC lifted its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 18.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 379,568 shares of the bank's stock after buying an additional 59,296 shares during the period. Moran Wealth Management LLC's holdings in Sumitomo Mitsui Financial Group were worth $7,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Tudor Investment Corp ET AL increased its holdings in Sumitomo Mitsui Financial Group by 112.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 927,179 shares of the bank's stock valued at $15,521,000 after purchasing an additional 490,891 shares during the last quarter. Factory Mutual Insurance Co. acquired a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter valued at approximately $3,164,000. American Century Companies Inc. increased its holdings in Sumitomo Mitsui Financial Group by 16.9% in the 3rd quarter. American Century Companies Inc. now owns 2,036,709 shares of the bank's stock valued at $34,095,000 after purchasing an additional 294,124 shares during the last quarter. Federated Hermes Inc. increased its holdings in Sumitomo Mitsui Financial Group by 67.4% in the 3rd quarter. Federated Hermes Inc. now owns 424,283 shares of the bank's stock valued at $7,102,000 after purchasing an additional 170,789 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Sumitomo Mitsui Financial Group by 72.7% in the 3rd quarter. Assetmark Inc. now owns 101,571 shares of the bank's stock valued at $1,700,000 after purchasing an additional 42,766 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

SMFG has been the subject of several research reports. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a "strong sell" rating to a "hold" rating in a report on Monday, March 16th. 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. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Sumitomo Mitsui Financial Group Stock Up 1.3%

NYSE:SMFG opened at $21.65 on Friday. The company has a fifty day simple moving average of $21.16 and a two-hundred day simple moving average of $19.35. The company has a market cap of $138.08 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 0.74 and a beta of 0.40. Sumitomo Mitsui Financial Group Inc has a 52 week low of $13.18 and a 52 week high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). The business had revenue of $7.27 billion during the quarter, compared to analyst estimates of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. On average, analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Sumitomo Mitsui Financial Group Company 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.

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