Johnson Investment Counsel Inc. Sells 18,200 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Johnson Investment Counsel Inc. decreased its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 24.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,346 shares of the bank's stock after selling 18,200 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $871,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $25,000. Bessemer Group Inc. boosted its position 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 buying an additional 1,119 shares during the period. Park Square Financial Group LLC bought a new stake in Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $34,000. Financial Management Professionals Inc. grew its holdings in Sumitomo Mitsui Financial Group by 88.3% during the 1st quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after acquiring an additional 1,127 shares during the last quarter. Finally, TD Waterhouse Canada Inc. increased its position 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 valued at $45,000 after acquiring an additional 2,963 shares during the period. 3.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of 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 1.8%

SMFG traded down $0.27 during midday trading on Wednesday, hitting $14.90. 1,437,746 shares of the company were exchanged, compared to its average volume of 1,513,911. The firm's 50 day moving average price is $14.57 and its 200-day moving average price is $14.71. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.74 and a 1-year high of $16.74. The firm has a market capitalization of $96.46 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.67 and a beta of 0.40.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 7.96% and a net margin of 11.57%. The company had revenue of $16.55 billion during the quarter. On average, sell-side 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.