LPL Financial LLC Acquires 120,362 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

LPL Financial LLC raised its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 37.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 445,354 shares of the bank’s stock after acquiring an additional 120,362 shares during the quarter. LPL Financial LLC’s holdings in Sumitomo Mitsui Financial Group were worth $6,885,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $25,000. Bessemer Group Inc. boosted its position 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 purchasing an additional 1,119 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $34,000. Private Trust Co. NA boosted its position in shares of Sumitomo Mitsui Financial Group by 1,044.1% during the first 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 in the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of Sumitomo Mitsui Financial Group by 88.3% during the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank’s stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Sumitomo Mitsui Financial Group Trading Down 0.8%

SMFG opened at $15.75 on Tuesday. The stock has a market capitalization of $101.95 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.70 and a beta of 0.41. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $16.74. The firm’s fifty day simple moving average is $15.16 and its 200 day simple moving average is $14.87. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75.

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

Wall Street Analyst Weigh In

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 report on Saturday, August 2nd. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd.

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.