Ritholtz Wealth Management Sells 17,925 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Ritholtz Wealth Management reduced its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 11.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,918 shares of the bank's stock after selling 17,925 shares during the quarter. Ritholtz Wealth Management's holdings in Sumitomo Mitsui Financial Group were worth $2,132,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SMFG. Capital A Wealth Management LLC acquired a new position in Sumitomo Mitsui Financial Group in the fourth quarter worth $25,000. Bessemer Group Inc. grew its holdings in Sumitomo Mitsui Financial Group by 138.1% during the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock worth $28,000 after acquiring an additional 1,119 shares during the last quarter. Park Square Financial Group LLC acquired a new stake in Sumitomo Mitsui Financial Group in the 4th quarter valued at about $34,000. Financial Management Professionals Inc. increased its position in Sumitomo Mitsui Financial Group by 88.3% in the 1st 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 in the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 2,178.7% during the fourth quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank's stock valued at $45,000 after purchasing an additional 2,963 shares during the last quarter. 3.85% of the stock is currently owned by institutional investors.

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, June 14th.

Sumitomo Mitsui Financial Group Stock Down 0.7%

SMFG stock traded down $0.11 during midday trading on Friday, reaching $14.84. The stock had a trading volume of 886,952 shares, compared to its average volume of 1,499,706. The firm has a market cap of $96.04 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.66 and a beta of 0.40. Sumitomo Mitsui Financial Group Inc has a twelve month low of $10.74 and a twelve month high of $16.74. The business has a fifty day simple moving average of $14.47 and a two-hundred day simple moving average of $14.72.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) 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 net margin of 11.57% and a return on equity of 7.96%. On average, equities analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

Sumitomo Mitsui Financial Group 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.