Benson Investment Management Company Inc. Sells 54,525 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Benson Investment Management Company Inc. decreased its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 13.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 355,750 shares of the bank's stock after selling 54,525 shares during the period. Sumitomo Mitsui Financial Group comprises 2.4% of Benson Investment Management Company Inc.'s portfolio, making the stock its 14th biggest position. Benson Investment Management Company Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $5,500,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Financial Management Professionals Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 88.3% in the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after acquiring an additional 1,127 shares during the last quarter. Merit Financial Group LLC bought a new position in Sumitomo Mitsui Financial Group in the 1st quarter valued at $212,000. BTC Capital Management Inc. increased its stake in shares of Sumitomo Mitsui Financial Group by 4.2% in the 1st quarter. BTC Capital Management Inc. now owns 159,010 shares of the bank's stock valued at $2,458,000 after buying an additional 6,364 shares during the period. Summit Global Investments increased its stake in shares of Sumitomo Mitsui Financial Group by 169.8% in the 1st quarter. Summit Global Investments now owns 104,297 shares of the bank's stock valued at $1,612,000 after buying an additional 65,641 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Sumitomo Mitsui Financial Group by 1,473.7% during the first quarter. Versant Capital Management Inc now owns 32,827 shares of the bank's stock worth $508,000 after acquiring an additional 30,741 shares during the last quarter. Institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Trading Down 0.4%

Shares of Sumitomo Mitsui Financial Group stock traded down $0.07 on Thursday, hitting $15.18. 1,603,080 shares of the company's stock traded hands, compared to its average volume of 1,470,671. The firm's 50-day moving average price is $14.11 and its two-hundred day moving average price is $14.67. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05. The stock has a market capitalization of $98.24 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.36 and a beta of 0.40. Sumitomo Mitsui Financial Group, Inc. has a one year low of $10.74 and a one year high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 12.61% and a return on equity of 8.52%. On average, research analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

About Sumitomo Mitsui Financial Group

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.