Crossmark Global Holdings Inc. Sells 69,557 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Crossmark Global Holdings reduced its stake in Sumitomo Mitsui Financial Group by 13.1% in the fourth quarter, selling 69,557 shares and leaving it with 462,908 shares valued at about $8.95 million.
• Several other institutional investors also adjusted their positions, with some buying new stakes and others increasing holdings; institutional ownership now stands at 3.85% of the company.
• Analyst sentiment remains positive overall: despite one downgrade, the stock still carries a consensus Buy rating, and shares recently traded at $21.44, near their 52-week high of $24.33.

Crossmark Global Holdings Inc. lessened its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 462,908 shares of the bank's stock after selling 69,557 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $8,948,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. PFS Partners LLC bought a new position in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Sumitomo Mitsui Financial Group in the third quarter valued at approximately $29,000. Sound Income Strategies LLC raised its position in shares of Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank's stock valued at $30,000 after purchasing an additional 610 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of 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 purchasing an additional 1,227 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Sumitomo Mitsui Financial Group by 225.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 1,919 shares of the bank's stock valued at $32,000 after purchasing an additional 1,329 shares during the period. Institutional investors own 3.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SMFG. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Zacks Research raised shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

Sumitomo Mitsui Financial Group Price Performance

SMFG opened at $21.44 on Friday. Sumitomo Mitsui Financial Group Inc has a fifty-two week low of $14.12 and a fifty-two week high of $24.33. The firm's fifty day moving average price is $20.56 and its two-hundred day moving average price is $19.78. The company has a market capitalization of $136.75 billion, a P/E ratio of 17.86, a P/E/G ratio of 0.70 and a beta of 0.43.

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.

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