Coldstream Capital Management Inc. Sells 37,827 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Coldstream Capital Management Inc. lessened its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 43.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,137 shares of the bank’s stock after selling 37,827 shares during the period. Coldstream Capital Management Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $969,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in Sumitomo Mitsui Financial Group by 2.6% during the 3rd quarter. Northern Trust Corp now owns 5,743,128 shares of the bank’s stock worth $96,140,000 after purchasing an additional 147,963 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Sumitomo Mitsui Financial Group by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,886,033 shares of the bank’s stock worth $48,312,000 after purchasing an additional 9,022 shares in the last quarter. American Century Companies Inc. increased its holdings in Sumitomo Mitsui Financial Group by 16.9% during the 3rd quarter. American Century Companies Inc. now owns 2,036,709 shares of the bank’s stock worth $34,095,000 after purchasing an additional 294,124 shares in the last quarter. Bank of America Corp DE increased its holdings in Sumitomo Mitsui Financial Group by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 1,921,712 shares of the bank’s stock worth $29,037,000 after purchasing an additional 81,103 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Sumitomo Mitsui Financial Group by 12.3% during the 3rd quarter. Fisher Asset Management LLC now owns 1,524,435 shares of the bank’s stock worth $25,519,000 after purchasing an additional 167,242 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SMFG. Wall Street Zen cut Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy”.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE SMFG opened at $22.95 on Wednesday. The stock has a market capitalization of $146.40 billion, a price-to-earnings ratio of 17.13, a PEG ratio of 0.64 and a beta of 0.43. The business has a 50-day moving average of $20.94 and a 200-day moving average of $20.34. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.40 and a fifty-two week high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. The company had revenue of $7.31 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.57% and a net margin of 15.68%. On average, sell-side analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.74 EPS 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.