Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC cut its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 15.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,575 shares of the bank's stock after selling 57,161 shares during the period. Moran Wealth Management LLC's holdings in Sumitomo Mitsui Financial Group were worth $4,662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SMFG. Capital A Wealth Management LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth about $25,000. Bessemer Group Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after purchasing an additional 1,119 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth about $34,000. Financial Management Professionals Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 88.3% during the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after purchasing an additional 1,127 shares in the last quarter. Finally, TD Waterhouse Canada Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 2,178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank's stock worth $45,000 after purchasing an additional 2,963 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research report on Friday.

Sumitomo Mitsui Financial Group Stock Down 0.1%

SMFG stock traded down $0.02 during trading on Friday, hitting $15.22. The company had a trading volume of 1,980,451 shares, compared to its average volume of 1,523,388. The firm has a market cap of $98.50 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.67 and a beta of 0.40. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.74 and a 1-year high of $16.74. The firm has a 50-day moving average price of $14.67 and a 200-day moving average price of $14.72.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.96%. Sell-side analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.