Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lessened its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,310 shares of the bank’s stock after selling 3,321 shares during the period. Checchi Capital Advisers LLC’s holdings in Sumitomo Mitsui Financial Group were worth $700,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its position in 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 worth $36,000 after purchasing an additional 2,130 shares during the period. Zions Bancorporation National Association UT acquired a new position in Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $42,000. Geneos Wealth Management Inc. increased its position in Sumitomo Mitsui Financial Group by 41.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after purchasing an additional 930 shares during the period. TD Private Client Wealth LLC increased its position in Sumitomo Mitsui Financial Group by 823.7% during the 1st quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank’s stock worth $64,000 after purchasing an additional 3,690 shares during the period. Finally, Brooklyn Investment Group increased its position in Sumitomo Mitsui Financial Group by 654.7% during the 1st quarter. Brooklyn Investment Group now owns 5,947 shares of the bank’s stock worth $92,000 after purchasing an additional 5,159 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

SMFG has been the topic of several recent analyst reports. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Saturday, September 27th. Finally, Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Stock Performance

SMFG opened at $16.57 on Monday. The stock’s 50 day simple moving average is $16.39 and its 200 day simple moving average is $15.24. The stock has a market cap of $106.50 billion, a P/E ratio of 17.44, a P/E/G ratio of 0.80 and a beta of 0.37. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.03 and a quick ratio of 1.03. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $17.46.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The firm had revenue of $16.41 billion for the quarter, compared to analysts’ expectations of $1,094.67 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. As a group, equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal 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.