Sumitomo Mitsui Financial Group (NYSE:SMFG) CFO Sells $169,880.00 in Stock

Key Points

• CFO Kazuyuki Anchi sold 4,000 SMFG shares at an average price of $42.47, generating $169,880. After the sale, he retained 48,857 shares valued at approximately $2.07 million, a 7.57% reduction in his holdings.
• SMFG shares opened at $26.30, near their 52-week high of $26.67, with a market capitalization of $167.86 billion. The bank recently reported quarterly earnings of $0.49 per share on $8.71 billion in revenue.
• Analyst sentiment remains broadly positive, with MarketBeat reporting an average “Buy” rating, while institutional investors and hedge funds own 3.85% of the company.

Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Get Free Report) CFO Kazuyuki Anchi sold 4,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $42.47, for a total transaction of $169,880.00. Following the completion of the sale, the chief financial officer directly owned 48,857 shares of the company's stock, valued at $2,074,956.79. This represents a 7.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Sumitomo Mitsui Financial Group Stock Performance

Shares of Sumitomo Mitsui Financial Group stock opened at $26.30 on Friday. The firm has a market cap of $167.86 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.42. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.65. Sumitomo Mitsui Financial Group Inc has a 52 week low of $15.18 and a 52 week high of $26.67. The business's fifty day simple moving average is $24.98 and its 200-day simple moving average is $22.67.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.49 earnings per share for the quarter. The business had revenue of $8.71 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.65% and a net margin of 16.24%. Equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SMFG. Zacks Research raised Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Weiss Ratings lowered Sumitomo Mitsui Financial Group from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Sumitomo Mitsui Financial Group has an average rating of "Buy".

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ferguson Wellman Capital Management Inc. acquired a new stake in Sumitomo Mitsui Financial Group during the 1st quarter valued at $33,801,000. Sequoia Financial Advisors LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 54.1% in the first quarter. Sequoia Financial Advisors LLC now owns 152,886 shares of the bank's stock worth $3,019,000 after acquiring an additional 53,655 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Sumitomo Mitsui Financial Group by 14.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 736,467 shares of the bank's stock valued at $14,236,000 after acquiring an additional 93,024 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group in the first quarter valued at $3,659,000. Finally, XY Capital Ltd boosted its stake in shares of Sumitomo Mitsui Financial Group by 46.4% during the first quarter. XY Capital Ltd now owns 175,608 shares of the bank's stock valued at $3,468,000 after acquiring an additional 55,686 shares during the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Company 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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