Ethic Inc. Sells 22,939 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Key Points

• Ethic Inc. has reduced its stake in Sumitomo Mitsui Financial Group (NYSE: SMFG) by 5.5%, selling 22,939 shares, and now owns 392,673 shares valued at approximately $5.9 million.
• Other institutional investors have shown increased interest, with Bessemer Group Inc. raising its holdings by 138.1% in the last quarter.
• Sumitomo Mitsui Financial Group recently reported earnings of $0.40 per share, exceeding analysts' expectations of $0.31, and had a revenue of $16.41 billion for the quarter.

Ethic Inc. lowered its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 392,673 shares of the bank's stock after selling 22,939 shares during the period. Ethic Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $5,922,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new position in Sumitomo Mitsui Financial Group during the 4th quarter valued at about $25,000. Bessemer Group Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after purchasing an additional 1,119 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $34,000. Private Trust Co. NA raised its holdings in shares of Sumitomo Mitsui Financial Group by 1,044.1% during the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock valued at $36,000 after acquiring an additional 2,130 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 88.3% during the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock valued at $37,000 after acquiring an additional 1,127 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Trading Down 2.1%

Shares of NYSE:SMFG traded down $0.3650 during trading on Tuesday, hitting $16.6250. 1,589,322 shares of the company's stock were exchanged, compared to its average volume of 1,877,412. The firm has a 50-day moving average price of $15.30 and a two-hundred day moving average price of $14.92. Sumitomo Mitsui Financial Group Inc has a 1-year low of $11.83 and a 1-year high of $17.46. The firm has a market cap of $107.65 billion, a P/E ratio of 17.50, a PEG ratio of 0.76 and a beta of 0.41. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.75.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $1,094.67 billion. Equities analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

SMFG has been the topic of a number of research analyst reports. Nomura Securities raised shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research report on Thursday, July 3rd. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Strong Buy".

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.