Kazuyuki Anchi Sells 4,000 Shares of Sumitomo Mitsui Financial Group (NYSE:SMFG) Stock

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) CFO Kazuyuki Anchi sold 4,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $42.47, for a total transaction of $169,880.00. Following the completion of the sale, the chief financial officer directly owned 48,857 shares of the company’s stock, valued at $2,074,956.79. The trade was a 7.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG opened at $26.28 on Friday. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $15.18 and a fifty-two week high of $26.67. The company has a market capitalization of $167.74 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.42. The firm has a 50-day simple moving average of $25.04 and a 200-day simple moving average of $22.69. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.05 and a current ratio of 1.05.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.49 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%.The firm had revenue of $8.71 billion for the quarter. On average, equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

SMFG has been the subject of several recent research reports. Zacks Research raised Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Weiss Ratings cut shares of Sumitomo Mitsui Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy”.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Hedge funds have recently added to or reduced their stakes in the company. Te Ahumairangi Investment Management Ltd purchased a new stake in Sumitomo Mitsui Financial Group in the 2nd quarter valued at approximately $99,000. Ninepoint Partners LP purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth approximately $2,521,000. Fiduciary Financial Group LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth approximately $202,000. Redhawk Wealth Advisors Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 3.6% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 73,281 shares of the bank’s stock worth $1,728,000 after buying an additional 2,573 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Sumitomo Mitsui Financial Group by 24.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 22,193 shares of the bank’s stock valued at $523,000 after buying an additional 4,323 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

About Sumitomo Mitsui Financial Group

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.