Rhumbline Advisers Trims Stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Rhumbline Advisers cut its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 25.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 125,355 shares of the bank's stock after selling 43,546 shares during the period. Rhumbline Advisers' holdings in Sumitomo Mitsui Financial Group were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp lifted its position in Sumitomo Mitsui Financial Group by 79.3% during the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock worth $72,877,000 after buying an additional 2,224,913 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in Sumitomo Mitsui Financial Group by 26.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank's stock worth $92,509,000 after buying an additional 1,355,287 shares in the last quarter. FMR LLC lifted its position in Sumitomo Mitsui Financial Group by 16.5% during the fourth 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. Bank of New York Mellon Corp lifted its position in Sumitomo Mitsui Financial Group by 139.7% during the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock worth $10,807,000 after buying an additional 434,728 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in Sumitomo Mitsui Financial Group by 53.5% during the fourth quarter. Natixis Advisors LLC now owns 900,374 shares of the bank's stock worth $13,046,000 after buying an additional 313,642 shares in the last quarter. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Price Performance

Sumitomo Mitsui Financial Group stock traded down $0.12 during trading on Friday, reaching $14.83. 1,325,254 shares of the company were exchanged, compared to its average volume of 1,506,427. Sumitomo Mitsui Financial Group Inc has a 52-week low of $10.74 and a 52-week high of $16.74. The company has a market capitalization of $95.98 billion, a P/E ratio of 16.29, a PEG ratio of 0.65 and a beta of 0.40. The stock's 50 day simple moving average is $14.51 and its two-hundred day simple moving average is $14.72.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.96%. The business had revenue of $16.55 billion during the quarter. As a group, equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th.

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.