Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. decreased its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 18.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 454,693 shares of the bank’s stock after selling 100,225 shares during the quarter. Cibc World Market Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $7,612,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC acquired a new stake in Sumitomo Mitsui Financial Group during the third quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Sumitomo Mitsui Financial Group by 163.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock valued at $30,000 after buying an additional 1,227 shares during the last quarter. NewSquare Capital LLC raised its stake in Sumitomo Mitsui Financial Group by 204.7% during the 2nd quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock worth $31,000 after acquiring an additional 1,363 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in Sumitomo Mitsui Financial Group during the 2nd quarter worth $34,000. Finally, Salomon & Ludwin LLC lifted its position in Sumitomo Mitsui Financial Group by 2,443.8% in the third quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,955 shares during the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG opened at $23.80 on Friday. The firm has a market cap of $152.55 billion, a P/E ratio of 19.83, a P/E/G ratio of 0.92 and a beta of 0.36. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $24.33. The business’s 50-day moving average price is $20.51 and its 200 day moving average price is $17.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The company had revenue of $17.71 billion for the quarter, compared to analysts’ expectations of $7.93 billion. On average, equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SMFG has been the topic of several research reports. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research downgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.