Anderson Hoagland & Co. Lowers Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Anderson Hoagland & Co. decreased its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 7.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 733,057 shares of the bank’s stock after selling 55,793 shares during the quarter. Sumitomo Mitsui Financial Group makes up approximately 1.1% of Anderson Hoagland & Co.’s portfolio, making the stock its 24th biggest position. Anderson Hoagland & Co.’s holdings in Sumitomo Mitsui Financial Group were worth $12,271,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its stake in Sumitomo Mitsui Financial Group by 163.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after acquiring an additional 1,227 shares during the period. NewSquare Capital LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 204.7% in the 2nd quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock valued at $31,000 after purchasing an additional 1,363 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at about $34,000. Headlands Technologies LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group in the 2nd quarter worth approximately $39,000. Finally, Allworth Financial LP boosted its stake in shares of Sumitomo Mitsui Financial Group by 53.1% during the second quarter. Allworth Financial LP now owns 2,753 shares of the bank’s stock valued at $42,000 after purchasing an additional 955 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG opened at $19.64 on Wednesday. The company has a market cap of $125.88 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.94 and a beta of 0.37. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $19.83. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 1.65. The company has a 50 day moving average of $17.40 and a two-hundred day moving average of $16.39.

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

Analyst Ratings Changes

A number of brokerages recently commented on SMFG. Zacks Research downgraded 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 reiterated a “hold (c)” rating on shares of Sumitomo Mitsui Financial Group in a report on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Moderate 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.