Park Avenue Securities LLC Cuts Stock Holdings in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Park Avenue Securities LLC decreased its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG – Get Rating) by 19.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,316 shares of the bank’s stock after selling 8,351 shares during the quarter. Park Avenue Securities LLC’s holdings in Sumitomo Mitsui Financial Group were worth $194,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Venture Visionary Partners LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the second quarter valued at approximately $27,000. Ronald Blue Trust Inc. boosted its holdings in Sumitomo Mitsui Financial Group by 235.8% in the third quarter. Ronald Blue Trust Inc. now owns 5,980 shares of the bank’s stock worth $36,000 after purchasing an additional 4,199 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings in Sumitomo Mitsui Financial Group by 71.8% in the second quarter. Hexagon Capital Partners LLC now owns 7,638 shares of the bank’s stock worth $45,000 after purchasing an additional 3,191 shares during the last quarter. Dakota Wealth Management purchased a new stake in Sumitomo Mitsui Financial Group in the second quarter worth approximately $60,000. Finally, Alera Investment Advisors LLC purchased a new stake in Sumitomo Mitsui Financial Group in the second quarter worth approximately $60,000. Hedge funds and other institutional investors own 1.65% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Up 1.8 %

SMFG opened at $8.69 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.03 and a debt-to-equity ratio of 1.95. Sumitomo Mitsui Financial Group, Inc. has a 1-year low of $5.39 and a 1-year high of $9.04. The company has a market capitalization of $59.73 billion, a PE ratio of 9.76, a PEG ratio of 1.86 and a beta of 0.67. The firm’s 50 day simple moving average is $7.52 and its two-hundred day simple moving average is $6.49.

Sumitomo Mitsui Financial Group (NYSE:SMFG – Get Rating) last released its quarterly earnings results on Monday, November 14th. The bank reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.12. Sumitomo Mitsui Financial Group had a net margin of 15.13% and a return on equity of 6.88%. The business had revenue of $11.48 billion for the quarter. As a group, equities analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Nomura restated a “buy” rating on shares of Sumitomo Mitsui Financial Group in a report on Tuesday, November 1st. StockNews.com assumed coverage on shares of Sumitomo Mitsui Financial Group in a report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Sumitomo Mitsui Financial Group Company Profile

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Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.