Rhumbline Advisers Has $1.94 Million Holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Rhumbline Advisers trimmed its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 25.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 125,355 shares of the bank's stock after selling 43,546 shares during the quarter. Rhumbline Advisers' holdings in Sumitomo Mitsui Financial Group were worth $1,938,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC purchased a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at $25,000. Bessemer Group Inc. grew its stake in Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock valued at $28,000 after purchasing an additional 1,119 shares during the period. Park Square Financial Group LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth $34,000. TD Waterhouse Canada Inc. boosted its stake in Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank's stock worth $45,000 after purchasing an additional 2,963 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in Sumitomo Mitsui Financial Group by 32.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 7,944 shares of the bank's stock worth $115,000 after purchasing an additional 1,968 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a report on Saturday.

Sumitomo Mitsui Financial Group Trading Down 1.0%

Shares of NYSE SMFG opened at $14.92 on Wednesday. The stock's 50-day moving average is $14.39 and its 200 day moving average is $14.72. The stock has a market cap of $96.56 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 0.66 and a beta of 0.40. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.74 and a 1-year high of $16.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued 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). The business had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a return on equity of 7.96% and a net margin of 11.57%. On average, analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal 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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