Cresset Asset Management LLC Sells 5,960 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Cresset Asset Management LLC decreased its position in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 6.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 85,365 shares of the bank’s stock after selling 5,960 shares during the quarter. Cresset Asset Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $603,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Anderson Hoagland & Co. grew its holdings in shares of Sumitomo Mitsui Financial Group by 6.3% in the 2nd quarter. Anderson Hoagland & Co. now owns 438,674 shares of the bank’s stock valued at $3,022,000 after acquiring an additional 25,914 shares in the last quarter. Crescent Grove Advisors LLC acquired a new position in Sumitomo Mitsui Financial Group during the first quarter valued at approximately $99,000. Veriti Management LLC grew its stake in Sumitomo Mitsui Financial Group by 116.4% in the second quarter. Veriti Management LLC now owns 85,132 shares of the bank’s stock valued at $587,000 after purchasing an additional 45,786 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Sumitomo Mitsui Financial Group during the 1st quarter worth approximately $94,000. Finally, BlackRock Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 570,736.3% during the 1st quarter. BlackRock Inc. now owns 7,940,333 shares of the bank’s stock worth $57,567,000 after purchasing an additional 7,938,942 shares in the last quarter. 1.83% of the stock is owned by hedge funds and other institutional investors.

NYSE:SMFG opened at $7.15 on Wednesday. Sumitomo Mitsui Financial Group, Inc. has a 12-month low of $5.40 and a 12-month high of $7.95. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of 8.31 and a beta of 0.97. The stock’s 50 day moving average price is $6.94 and its two-hundred day moving average price is $7.11. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 2.43.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings results on Friday, July 30th. The bank reported $0.27 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 5.73% and a net margin of 16.18%. The business had revenue of $8.69 billion for the quarter. Equities research analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.93 EPS for the current year.

Separately, Zacks Investment Research raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, June 16th.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc operates as a holding company, which engages in the management of its subsidiaries that provide financial services. It operates through the following segments: Commercial Banking, Leasing, Securities, and Consumer Finance. The Commercial Banking segment consists of consumer banking, middle market banking, wholesale banking, retail banking, international banking, and treasury units.

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Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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