AlphaCore Capital LLC Takes $240,000 Position in Sumitomo Mitsui Financial Group Inc $SMFG

AlphaCore Capital LLC bought a new position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 15,912 shares of the bank’s stock, valued at approximately $240,000.

Other large investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in Sumitomo Mitsui Financial Group by 0.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank’s stock worth $174,255,000 after buying an additional 53,612 shares during the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 1.8% during the first quarter. Clark Capital Management Group Inc. now owns 6,496,260 shares of the bank’s stock worth $100,432,000 after purchasing an additional 111,952 shares during the last quarter. Northern Trust Corp lifted its position in Sumitomo Mitsui Financial Group by 3.2% during the first quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock valued at $80,219,000 after purchasing an additional 159,320 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 19.7% in the second quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock valued at $34,789,000 after purchasing an additional 378,909 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Sumitomo Mitsui Financial Group by 5.9% during the 1st quarter. American Century Companies Inc. now owns 1,605,115 shares of the bank’s stock worth $24,815,000 after purchasing an additional 89,792 shares during the period. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SMFG. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Zacks Research cut Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $17.17 on Tuesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $110.35 billion, a PE ratio of 18.07, a PEG ratio of 0.78 and a beta of 0.36. Sumitomo Mitsui Financial Group Inc has a one year low of $11.83 and a one year high of $17.58. The firm has a fifty day moving average of $16.42 and a 200 day moving average of $15.82.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $8.15 billion for the quarter, compared to analyst estimates of $7.41 billion. As a group, research analysts predict 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.