Assetmark Inc. Acquires 11,847 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Assetmark Inc. lifted its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 63.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,588 shares of the bank’s stock after purchasing an additional 11,847 shares during the quarter. Assetmark Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SMFG. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at about $25,000. Bessemer Group Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after acquiring an additional 1,119 shares during the period. 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 buying an additional 2,130 shares during the period. Park Square Financial Group LLC bought a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $34,000. Finally, Financial Management Professionals Inc. increased its stake in Sumitomo Mitsui Financial Group by 88.3% during the 1st 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. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Trading Down 0.4%

SMFG opened at $15.08 on Friday. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.74 and a 1-year high of $16.74. The company has a market cap of $97.36 billion, a P/E ratio of 15.87, a price-to-earnings-growth ratio of 0.67 and a beta of 0.41. The company has a fifty day moving average price of $15.13 and a two-hundred day moving average price of $14.83. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.64.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its earnings results on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, topping the consensus estimate of $0.31 by $0.09. The company had revenue of $16.41 billion during the quarter, compared to the consensus estimate of $1,094.67 billion. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.83%. Analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

SMFG has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd.

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.