Clark Capital Management Group Inc. Cuts Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Clark Capital Management Group Inc. reduced its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 0.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,105,864 shares of the bank’s stock after selling 37,260 shares during the quarter. Clark Capital Management Group Inc. owned 0.06% of Sumitomo Mitsui Financial Group worth $79,366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bridgewater Advisors Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 2.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank’s stock worth $513,000 after buying an additional 530 shares during the last quarter. Park Square Financial Group LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 58.0% in the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock worth $31,000 after buying an additional 598 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 76.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock worth $30,000 after buying an additional 610 shares during the last quarter. Aprio Wealth Management LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 3.9% in the 3rd quarter. Aprio Wealth Management LLC now owns 16,517 shares of the bank’s stock worth $276,000 after buying an additional 626 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Sumitomo Mitsui Financial Group by 27.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,926 shares of the bank’s stock valued at $57,000 after purchasing an additional 628 shares during the last quarter. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a report on Friday, May 22nd. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Finally, Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy”.

Sumitomo Mitsui Financial Group Stock Down 0.7%

NYSE SMFG opened at $24.13 on Wednesday. The company has a market cap of $153.92 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 0.66 and a beta of 0.43. Sumitomo Mitsui Financial Group Inc has a 52 week low of $14.40 and a 52 week high of $24.60. The firm’s 50-day simple moving average is $21.98 and its two-hundred day simple moving average is $21.00.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.57%. The business had revenue of $7.31 billion for the quarter. As a group, equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current year.

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.