Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) Holdings Lowered by RNC Capital Management LLC

RNC Capital Management LLC reduced its stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating) by 15.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,000 shares of the bank’s stock after selling 7,300 shares during the period. RNC Capital Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SMFG. Ieq Capital LLC lifted its position in Sumitomo Mitsui Financial Group by 9.8% in the third quarter. Ieq Capital LLC now owns 22,356 shares of the bank’s stock worth $123,000 after purchasing an additional 1,990 shares during the period. Mission Wealth Management LP lifted its holdings in shares of Sumitomo Mitsui Financial Group by 2.9% in the third quarter. Mission Wealth Management LP now owns 72,943 shares of the bank’s stock valued at $401,000 after buying an additional 2,073 shares during the period. Federated Hermes Inc. boosted its stake in Sumitomo Mitsui Financial Group by 6.8% during the second quarter. Federated Hermes Inc. now owns 33,670 shares of the bank’s stock valued at $198,000 after buying an additional 2,142 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Sumitomo Mitsui Financial Group by 29.0% during the third quarter. Hexagon Capital Partners LLC now owns 9,852 shares of the bank’s stock worth $54,000 after acquiring an additional 2,214 shares during the period. Finally, Cresset Asset Management LLC raised its position in Sumitomo Mitsui Financial Group by 9.7% in the first quarter. Cresset Asset Management LLC now owns 26,098 shares of the bank’s stock worth $164,000 after acquiring an additional 2,312 shares in the last quarter. 1.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Sumitomo Mitsui Financial Group in a research report on Thursday. They set a “hold” rating for the company.

Sumitomo Mitsui Financial Group Trading Down 2.9 %

Sumitomo Mitsui Financial Group stock opened at $7.66 on Friday. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $5.39 and a 1 year high of $9.18. The firm’s 50 day moving average price is $8.62 and its two-hundred day moving average price is $7.16. The firm has a market cap of $52.65 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 1.40 and a beta of 0.68. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.03 and a current ratio of 1.04.

Sumitomo Mitsui Financial Group Profile

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Sumitomo Mitsui Financial Group, Inc operates as a holding company, which engages in the management of its subsidiaries that provide financial services. It operates through the following segments: Commercial Banking, Leasing, Securities, and Consumer Finance. The Commercial Banking segment consists of consumer banking, middle market banking, wholesale banking, retail banking, international banking, and treasury units.