Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC cut its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 29.5% during the third quarter, HoldingsChannel.com reports. The firm owned 155,951 shares of the bank’s stock after selling 65,198 shares during the period. Park Avenue Securities LLC’s holdings in Sumitomo Mitsui Financial Group were worth $2,611,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. AQR Capital Management LLC increased its position in Sumitomo Mitsui Financial Group by 26.0% during the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after buying an additional 36,522 shares in the last quarter. Ascent Group LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth about $235,000. Focus Partners Wealth increased its holdings in shares of Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock valued at $282,000 after acquiring an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 41.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock valued at $49,000 after purchasing an additional 930 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Sumitomo Mitsui Financial Group by 336.4% in the 1st quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock worth $610,000 after purchasing an additional 30,506 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SMFG shares. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG opened at $20.19 on Friday. The company has a 50 day simple moving average of $18.33 and a two-hundred day simple moving average of $16.80. The stock has a market cap of $129.41 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.98 and a beta of 0.36. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.65. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $20.34.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.19. The firm had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $7.41 billion. Sumitomo Mitsui Financial Group had a net margin of 13.80% and a return on equity of 9.14%. As a group, analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

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.