RNC Capital Management LLC Grows Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

RNC Capital Management LLC raised its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 13.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,763 shares of the bank’s stock after buying an additional 4,955 shares during the quarter. RNC Capital Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of SMFG. Apollon Wealth Management LLC raised its position in shares of Sumitomo Mitsui Financial Group by 4.9% in the 2nd quarter. Apollon Wealth Management LLC now owns 13,807 shares of the bank’s stock valued at $209,000 after purchasing an additional 651 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Sumitomo Mitsui Financial Group by 3.8% in the 1st quarter. Lindbrook Capital LLC now owns 20,072 shares of the bank’s stock valued at $310,000 after purchasing an additional 729 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 2.6% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 32,243 shares of the bank’s stock valued at $498,000 after purchasing an additional 809 shares during the last quarter. BSW Wealth Partners raised its position in shares of Sumitomo Mitsui Financial Group by 4.4% in the 1st quarter. BSW Wealth Partners now owns 19,652 shares of the bank’s stock valued at $304,000 after purchasing an additional 837 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management raised its position in shares of Sumitomo Mitsui Financial Group by 5.0% in the 2nd quarter. Werba Rubin Papier Wealth Management now owns 18,070 shares of the bank’s stock valued at $273,000 after purchasing an additional 864 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SMFG. 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. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 5th. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a “strong-buy” rating in a report on Thursday, July 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Sumitomo Mitsui Financial Group presently has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $16.05 on Thursday. The stock has a market capitalization of $103.21 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 0.78 and a beta of 0.37. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $17.46. The firm’s 50 day simple moving average is $16.48 and its 200-day simple moving average is $15.29. 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 (NYSE:SMFG) last issued its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 EPS for the quarter, topping analysts’ consensus estimates 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%. Analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

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.