Sumitomo Mitsui Financial Group (NYSE:SMFG) CFO Sells 4,000 Shares

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

Sumitomo Mitsui Financial Group Stock Up 1.0%

SMFG stock opened at $26.30 on Friday. The stock has a market capitalization of $167.86 billion, a P/E ratio of 18.27, a PEG ratio of 1.33 and a beta of 0.42. 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 Inc has a one year low of $15.18 and a one year high of $26.67. The company has a 50 day moving average price of $24.98 and a two-hundred day moving average price of $22.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.49 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%.The company had revenue of $8.71 billion during the quarter. As a group, sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.4 EPS for the current year.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ascentis Independent Advisors purchased a new position in shares of Sumitomo Mitsui Financial Group in the 1st quarter worth about $27,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 3rd quarter worth about $29,000. Bayban acquired a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $30,000. Northwestern Mutual Wealth Management Co. increased its position in Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Park Square Financial Group LLC raised its holdings in Sumitomo Mitsui Financial Group by 58.0% in the fourth quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank’s stock valued at $31,000 after buying an additional 598 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SMFG has been the topic of a number of research analyst reports. Weiss Ratings lowered Sumitomo Mitsui Financial Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 5th. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group currently has a consensus rating of “Buy”.

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.