Westfield Capital Management Co. LP Sells 82,415 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Westfield Capital Management Co. LP cut its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 15.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 459,467 shares of the bank’s stock after selling 82,415 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Sumitomo Mitsui Financial Group were worth $7,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the third quarter worth about $27,000. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $30,000 after acquiring an additional 1,227 shares during the last quarter. NewSquare Capital LLC increased its position in Sumitomo Mitsui Financial Group by 204.7% during 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 during the period. Twin Peaks Wealth Advisors LLC bought a new position in Sumitomo Mitsui Financial Group during the 2nd quarter worth approximately $34,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 2,443.8% in the 3rd quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock worth $34,000 after purchasing an additional 1,955 shares during the period. Institutional investors and hedge funds own 3.85% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Finally, Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Stock Up 1.6%

Shares of NYSE SMFG opened at $22.84 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. The firm has a market cap of $146.43 billion, a PE ratio of 19.03, a P/E/G ratio of 0.87 and a beta of 0.36. The company’s fifty day simple moving average is $21.24 and its 200 day simple moving average is $18.40. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $24.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. The company had revenue of $17.71 billion during the quarter, compared to the consensus estimate of $7.93 billion. As a group, sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal 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.