Five Oceans Advisors Sells 1,002 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Five Oceans Advisors reduced its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 3.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,405 shares of the bank’s stock after selling 1,002 shares during the quarter. Five Oceans Advisors’ holdings in Sumitomo Mitsui Financial Group were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SMFG. Natixis Advisors LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 59.8% in the 1st quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank’s stock valued at $22,250,000 after buying an additional 538,823 shares in the last quarter. Allianz SE bought a new position in shares of Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $3,401,000. Calamos Wealth Management LLC acquired a new stake in Sumitomo Mitsui Financial Group in the 1st quarter valued at $2,706,000. Myriad Asset Management US LP acquired a new position in Sumitomo Mitsui Financial Group in the second quarter valued at about $2,561,000. Finally, Northern Trust Corp increased its holdings in Sumitomo Mitsui Financial Group by 3.2% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Price Performance

NYSE SMFG opened at $16.86 on Friday. 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 stock has a market cap of $108.36 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.82 and a beta of 0.39. The business has a 50 day simple moving average of $16.25 and a 200 day simple moving average of $15.22. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $17.46.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.09. The company had revenue of $16.41 billion during 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 anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of 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 shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Nomura Securities raised Sumitomo Mitsui Financial Group to a “strong-buy” rating in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Strong Buy”.

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.