Cresset Asset Management LLC Trims Stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Cresset Asset Management LLC lowered its position in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 91.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,454 shares of the bank's stock after selling 165,492 shares during the quarter. Cresset Asset Management LLC's holdings in Sumitomo Mitsui Financial Group were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SMFG. Northern Trust Corp increased its stake in shares of Sumitomo Mitsui Financial Group by 79.3% during the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock worth $72,877,000 after purchasing an additional 2,224,913 shares during the last quarter. FMR LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 16.5% during the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank's stock worth $121,474,000 after purchasing an additional 1,189,453 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sumitomo Mitsui Financial Group by 139.7% during the 4th quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock worth $10,807,000 after purchasing an additional 434,728 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Sumitomo Mitsui Financial Group by 53.5% during the 4th quarter. Natixis Advisors LLC now owns 900,374 shares of the bank's stock worth $13,046,000 after purchasing an additional 313,642 shares during the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $4,484,000. Institutional investors own 3.85% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Thursday.

Sumitomo Mitsui Financial Group Stock Performance

Sumitomo Mitsui Financial Group stock traded up $0.19 during mid-day trading on Friday, reaching $15.13. The company's stock had a trading volume of 1,910,970 shares, compared to its average volume of 1,442,725. Sumitomo Mitsui Financial Group, Inc. has a 12-month low of $10.74 and a 12-month high of $16.74. The company has a market capitalization of $97.95 billion, a P/E ratio of 14.69, a PEG ratio of 2.36 and a beta of 0.40. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. The firm's fifty day moving average price is $14.26 and its two-hundred day moving average price is $14.59.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a net margin of 12.61% and a return on equity of 8.52%. The business had revenue of $16.55 billion during the quarter. Sell-side analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS for the current fiscal year.

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.