Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. trimmed its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 36.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,143,124 shares of the bank’s stock after selling 2,374,548 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Sumitomo Mitsui Financial Group were worth $69,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SMFG. True Wealth Design LLC purchased a new stake in Sumitomo Mitsui Financial Group in the third quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Sumitomo Mitsui Financial Group by 163.2% during 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 last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Sumitomo Mitsui Financial Group during the second quarter valued at about $34,000. Salomon & Ludwin LLC increased its holdings in shares of Sumitomo Mitsui Financial Group by 2,443.8% during the third quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,955 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at approximately $39,000. 3.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Sumitomo Mitsui Financial Group Stock Down 1.2%

Shares of SMFG stock opened at $19.10 on Friday. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $11.83 and a fifty-two week high of $24.33. The firm has a market capitalization of $121.81 billion, a PE ratio of 15.91, a P/E/G ratio of 0.74 and a beta of 0.34. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50-day simple moving average is $21.47 and its 200-day simple moving average is $18.72.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The firm had revenue of $17.71 billion for the quarter, compared to analyst estimates of $7.93 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%. Equities analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Sumitomo Mitsui Financial Group Profile

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.