Oppenheimer Asset Management Inc. Sells 13,902 Shares of Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG)

Oppenheimer Asset Management Inc. reduced its holdings in shares of Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 159,233 shares of the bank’s stock after selling 13,902 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Sumitomo Mitsui Financial Grp were worth $1,089,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Coastal Investment Advisors Inc. raised its position in Sumitomo Mitsui Financial Grp by 128.2% in the second quarter. Coastal Investment Advisors Inc. now owns 3,884 shares of the bank’s stock valued at $27,000 after purchasing an additional 2,182 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in Sumitomo Mitsui Financial Grp in the second quarter valued at about $36,000. SRS Capital Advisors Inc. bought a new position in Sumitomo Mitsui Financial Grp in the second quarter valued at about $39,000. Cornerstone Advisors Inc. raised its position in Sumitomo Mitsui Financial Grp by 44.3% in the second quarter. Cornerstone Advisors Inc. now owns 5,631 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,728 shares during the last quarter. Finally, Capital Investment Advisory Services LLC bought a new position in Sumitomo Mitsui Financial Grp in the second quarter valued at about $41,000. Institutional investors and hedge funds own 2.55% of the company’s stock.

Shares of SMFG opened at $7.34 on Friday. Sumitomo Mitsui Financial Grp, Inc. has a 1 year low of $6.32 and a 1 year high of $7.97. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $50.09 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 2.82 and a beta of 1.23. The business has a 50-day moving average of $6.97 and a 200-day moving average of $6.93.

SMFG has been the subject of several research reports. ValuEngine downgraded Sumitomo Mitsui Financial Grp from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Investment Research upgraded Sumitomo Mitsui Financial Grp from a “hold” rating to a “buy” rating and set a $7.75 target price for the company in a research report on Tuesday, September 17th.

Sumitomo Mitsui Financial Grp Profile

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services primarily in Japan. It operates through four segments: Wholesale Business, Retail Business, International Business, and Global Markets Business.

Further Reading: Rule of 72

Want to see what other hedge funds are holding SMFG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sumitomo Mitsui Financial Grp, Inc. (NYSE:SMFG).

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

Receive News & Ratings for Sumitomo Mitsui Financial Grp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sumitomo Mitsui Financial Grp and related companies with MarketBeat.com's FREE daily email newsletter.