Optas LLC Acquires 2,813 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Optas LLC lifted its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 21.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,823 shares of the bank’s stock after purchasing an additional 2,813 shares during the quarter. Optas LLC’s holdings in Sumitomo Mitsui Financial Group were worth $239,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Private Trust Co. NA raised its position in shares of Sumitomo Mitsui Financial Group by 1,044.1% in 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 last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth about $42,000. Geneos Wealth Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 41.6% in 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 last quarter. TD Private Client Wealth LLC raised its position in shares of Sumitomo Mitsui Financial Group by 823.7% in 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 last quarter. Finally, Brooklyn Investment Group raised its position in shares of Sumitomo Mitsui Financial Group by 654.7% in 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 last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SMFG. Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Wednesday. Finally, Nomura Securities raised Sumitomo Mitsui Financial Group to a “strong-buy” rating in a research report on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $16.00 on Friday. The business has a 50-day simple moving average of $16.46 and a two-hundred day simple moving average of $15.25. The firm has a market cap of $102.86 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 0.79 and a beta of 0.37. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $17.46. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.03 and a current ratio of 1.03.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The business 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 return on equity of 7.88% and a net margin of 11.78%. On average, analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Sumitomo Mitsui Financial Group Company 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.