Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,938 shares of the bank’s stock after selling 1,258 shares during the quarter. M&T Bank Corp’s holdings in Sumitomo Mitsui Financial Group were worth $772,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Pekin Hardy Strauss Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 3.3% during the first quarter. Pekin Hardy Strauss Inc. now owns 102,350 shares of the bank’s stock valued at $1,582,000 after purchasing an additional 3,250 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 823.7% during the first quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank’s stock valued at $64,000 after purchasing an additional 3,690 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 6.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank’s stock valued at $29,737,000 after purchasing an additional 119,818 shares during the last quarter. World Investment Advisors lifted its holdings in shares of Sumitomo Mitsui Financial Group by 90.3% during the first quarter. World Investment Advisors now owns 26,968 shares of the bank’s stock valued at $417,000 after purchasing an additional 12,799 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter valued at $116,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

NYSE SMFG opened at $14.86 on Tuesday. The company has a 50 day simple moving average of $14.92 and a 200-day simple moving average of $14.77. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $95.91 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.65 and a beta of 0.39. Sumitomo Mitsui Financial Group Inc has a 52-week low of $10.74 and a 52-week high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.05). The company had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 7.74% and a net margin of 11.57%. Equities research analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently commented on SMFG. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th. Nomura Securities raised Sumitomo Mitsui Financial Group to a “strong-buy” rating in a report on Thursday, July 3rd.

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.