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

CIBC Asset Management Inc trimmed its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) by 67.6% during the 4th quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Versant Capital Management Inc purchased a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at approximately $30,000. Richardson Financial Services Inc. raised its holdings in Sumitomo Mitsui Financial Group by 36.8% during the 4th quarter. Richardson Financial Services Inc. now owns 3,496 shares of the bank’s stock valued at $51,000 after buying an additional 940 shares during the last quarter. Bruce G. Allen Investments LLC boosted its position in Sumitomo Mitsui Financial Group by 29.5% during the 4th quarter. Bruce G. Allen Investments LLC now owns 5,445 shares of the bank’s stock valued at $79,000 after buying an additional 1,239 shares during the period. Sierra Ocean LLC bought a new stake in Sumitomo Mitsui Financial Group in the 4th quarter worth $86,000. Finally, Assetmark Inc. increased its position in shares of Sumitomo Mitsui Financial Group by 23.6% in the third quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock valued at $110,000 after acquiring an additional 1,669 shares during the period. 3.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG stock opened at $15.33 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. Sumitomo Mitsui Financial Group, Inc. has a fifty-two week low of $10.70 and a fifty-two week high of $15.83. The firm has a market cap of $100.24 billion, a P/E ratio of 14.88, a P/E/G ratio of 2.38 and a beta of 0.63. The business’s 50 day moving average price is $14.72 and its 200-day moving average price is $13.80.

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.