CIBC Asset Management Inc Sells 328,117 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

CIBC Asset Management Inc trimmed its holdings in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 67.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,225 shares of the bank’s stock after selling 328,117 shares during the quarter. CIBC Asset Management Inc’s holdings in Sumitomo Mitsui Financial Group were worth $2,232,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc bought a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth $30,000. Richardson Financial Services Inc. grew its position in Sumitomo Mitsui Financial Group by 36.8% in the fourth quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank’s stock worth $51,000 after acquiring an additional 940 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in Sumitomo Mitsui Financial Group by 29.5% in the fourth quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank’s stock valued at $79,000 after acquiring an additional 1,239 shares during the last quarter. Sierra Ocean LLC purchased a new stake in Sumitomo Mitsui Financial Group during the fourth quarter valued at about $86,000. Finally, Assetmark Inc. lifted its stake in Sumitomo Mitsui Financial Group by 23.6% during the third quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock worth $110,000 after purchasing an additional 1,669 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Stock Down 2.0 %

Shares of NYSE SMFG opened at $15.33 on Friday. The stock has a market capitalization of $100.24 billion, a P/E ratio of 14.88, a PEG ratio of 2.38 and a beta of 0.63. Sumitomo Mitsui Financial Group, Inc. has a one year low of $10.70 and a one year high of $15.83. The firm’s 50 day simple moving average is $14.72 and its two-hundred day simple moving average is $13.80. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

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.