Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Myriad Asset Management US LP

Myriad Asset Management US LP trimmed its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 31.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,634 shares of the bank’s stock after selling 52,858 shares during the period. Sumitomo Mitsui Financial Group comprises 1.1% of Myriad Asset Management US LP’s holdings, making the stock its 21st largest position. Myriad Asset Management US LP’s holdings in Sumitomo Mitsui Financial Group were worth $1,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Apollon Wealth Management LLC lifted its position in shares of Sumitomo Mitsui Financial Group by 4.9% during the 2nd quarter. Apollon Wealth Management LLC now owns 13,807 shares of the bank’s stock valued at $209,000 after buying an additional 651 shares in the last quarter. Versant Capital Management Inc increased its position in Sumitomo Mitsui Financial Group by 2.1% during the third quarter. Versant Capital Management Inc now owns 31,219 shares of the bank’s stock worth $523,000 after purchasing an additional 656 shares during the last quarter. Canopy Partners LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 6.5% in the 3rd quarter. Canopy Partners LLC now owns 13,368 shares of the bank’s stock valued at $224,000 after buying an additional 810 shares during the period. Bailard Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 3.1% during the 2nd quarter. Bailard Inc. now owns 28,246 shares of the bank’s stock valued at $427,000 after buying an additional 842 shares during the period. Finally, Werba Rubin Papier Wealth Management raised its position in shares of Sumitomo Mitsui Financial Group by 5.0% during the 2nd quarter. Werba Rubin Papier Wealth Management now owns 18,070 shares of the bank’s stock valued at $273,000 after buying an additional 864 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

Shares of NYSE:SMFG opened at $20.63 on Friday. Sumitomo Mitsui Financial Group Inc has a one year low of $11.83 and a one year high of $21.54. The stock has a market capitalization of $132.26 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.09 and a beta of 0.36. The company has a 50-day simple moving average of $19.14 and a 200-day simple moving average of $17.15. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.03 and a current ratio of 1.04.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its earnings results on Friday, November 14th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.19. Sumitomo Mitsui Financial Group had a return on equity of 9.14% and a net margin of 13.80%.The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $7.41 billion. On average, analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on SMFG shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Zacks Research cut Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Hold”.

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.