Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Stake Cut by HighTower Advisors LLC

HighTower Advisors LLC lowered its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 88.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,871 shares of the bank’s stock after selling 174,566 shares during the period. HighTower Advisors LLC’s holdings in Sumitomo Mitsui Financial Group were worth $158,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SMFG. Bank of New York Mellon Corp raised its stake in shares of Sumitomo Mitsui Financial Group by 1.4% in the first quarter. Bank of New York Mellon Corp now owns 361,003 shares of the bank’s stock worth $2,617,000 after buying an additional 5,125 shares in the last quarter. US Bancorp DE raised its stake in shares of Sumitomo Mitsui Financial Group by 17.6% in the first quarter. US Bancorp DE now owns 402,716 shares of the bank’s stock worth $2,920,000 after buying an additional 60,261 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 4.5% in the first quarter. Checchi Capital Advisers LLC now owns 42,760 shares of the bank’s stock worth $310,000 after buying an additional 1,849 shares in the last quarter. HPM Partners LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the first quarter worth about $282,000. Finally, Wright Investors Service Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 62.0% in the first quarter. Wright Investors Service Inc. now owns 80,110 shares of the bank’s stock worth $581,000 after buying an additional 30,655 shares in the last quarter. 2.18% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) opened at 7.49 on Friday. The company has a market capitalization of $52.81 billion, a P/E ratio of 8.34 and a beta of 1.30. Sumitomo Mitsui Financial Group Inc has a 1-year low of $6.39 and a 1-year high of $8.30. The firm has a 50-day moving average price of $7.71 and a 200-day moving average price of $7.59.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Monday, July 31st. The bank reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.11. The company had revenue of $12.25 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 14.43% and a return on equity of 6.95%. On average, analysts forecast that Sumitomo Mitsui Financial Group Inc will post $0.87 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was first posted by Stock Observer and is the sole property of of Stock Observer. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://www.thestockobserver.com/2017/08/13/hightower-advisors-llc-reduces-position-in-sumitomo-mitsui-financial-group-inc-nysesmfg-updated-updated.html.

A number of equities research analysts recently issued reports on the company. BidaskClub lowered Sumitomo Mitsui Financial Group from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. ValuEngine raised Sumitomo Mitsui Financial Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Finally, UBS AG upgraded Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy”.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc is a holding company for Sumitomo Mitsui Banking Corporation (the Bank) and its subsidiaries. The Company operates through four segments: Commercial Banking, Leasing, Securities and Consumer Finance. The Company and its subsidiaries offer a range of financial services, including commercial banking, leasing, securities, consumer finance and other services.

Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

Receive News & Ratings for Sumitomo Mitsui Financial Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sumitomo Mitsui Financial Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply