Dorsey Wright & Associates Sells 18,883 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Dorsey Wright & Associates decreased its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 159,362 shares of the bank's stock after selling 18,883 shares during the quarter. Dorsey Wright & Associates' holdings in Sumitomo Mitsui Financial Group were worth $2,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $25,000. Bessemer Group Inc. raised its stake in Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock valued at $28,000 after buying an additional 1,119 shares during the last quarter. Park Square Financial Group LLC bought a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth $34,000. Private Trust Co. NA boosted its holdings in Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock worth $36,000 after acquiring an additional 2,130 shares in the last quarter. Finally, Financial Management Professionals Inc. grew 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. Hedge funds and other institutional investors own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Stock Up 1.7%

Shares of SMFG traded up $0.28 on Thursday, hitting $16.25. 1,711,314 shares of the stock traded hands, compared to its average volume of 2,163,651. Sumitomo Mitsui Financial Group Inc has a one year low of $10.74 and a one year high of $16.74. The company has a market capitalization of $104.88 billion, a PE ratio of 17.85, a P/E/G ratio of 0.70 and a beta of 0.38. The business has a 50 day simple moving average of $15.04 and a 200 day simple moving average of $14.80. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.05 and a current ratio of 1.05.

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). Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. The business had revenue of $16.55 billion for the quarter. As a group, equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SMFG. Nomura Securities raised Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th.

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.