Ramirez Asset Management Inc. Trims Stock Position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Ramirez Asset Management Inc. lowered its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,398 shares of the bank's stock after selling 39,616 shares during the period. Sumitomo Mitsui Financial Group accounts for about 1.3% of Ramirez Asset Management Inc.'s holdings, making the stock its 14th biggest position. Ramirez Asset Management Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $6,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FMR LLC grew its stake in Sumitomo Mitsui Financial Group by 16.5% in the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank's stock worth $121,474,000 after buying an additional 1,189,453 shares in the last quarter. Clark Capital Management Group Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 26.9% in the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank's stock valued at $92,509,000 after purchasing an additional 1,355,287 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Sumitomo Mitsui Financial Group by 79.3% in the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock valued at $72,877,000 after purchasing an additional 2,224,913 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sumitomo Mitsui Financial Group by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank's stock valued at $42,015,000 after purchasing an additional 33,783 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Sumitomo Mitsui Financial Group by 6.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank's stock valued at $29,737,000 after purchasing an additional 119,818 shares in the last quarter. Hedge funds and other institutional investors own 3.85% of the company's stock.

Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Trading Down 4.2%

Shares of SMFG opened at $15.55 on Tuesday. The stock has a market capitalization of $100.40 billion, a P/E ratio of 17.09, a PEG ratio of 0.71 and a beta of 0.39. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.64. The firm has a fifty day simple moving average of $15.10 and a two-hundred day simple moving average of $14.82. Sumitomo Mitsui Financial Group Inc has a twelve month low of $10.74 and a twelve month high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The bank reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). The firm had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. On average, research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

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.

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