Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Ethic Inc.

Key Points

• Ethic Inc. reduced its stake in Sumitomo Mitsui Financial Group by 8.9%, selling 34,776 shares, which brings its total holdings to 357,897 shares valued at $5.44 million.
• Various institutional investors, such as Private Trust Co. NA and TD Private Client Wealth LLC, have significantly increased their holdings in Sumitomo Mitsui Financial Group during the first quarter, with increases up to 1,044.1%.
• The company reported quarterly earnings of $0.40 per share, surpassing analyst expectations of $0.31, and had a net margin of 11.78% with a market capitalization of $103.21 billion.

Ethic Inc. lessened its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 8.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 357,897 shares of the bank's stock after selling 34,776 shares during the period. Ethic Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $5,440,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in Sumitomo Mitsui Financial Group by 1,044.1% in the 1st quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock valued at $36,000 after purchasing an additional 2,130 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in Sumitomo Mitsui Financial Group in the 1st quarter valued at approximately $42,000. Geneos Wealth Management Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 41.6% in the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank's stock worth $49,000 after acquiring an additional 930 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 823.7% in the first quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank's stock worth $64,000 after acquiring an additional 3,690 shares in the last quarter. Finally, Brooklyn Investment Group grew its stake in shares of Sumitomo Mitsui Financial Group by 654.7% in the first quarter. Brooklyn Investment Group now owns 5,947 shares of the bank's stock worth $92,000 after acquiring an additional 5,159 shares in the last quarter. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Trading Down 0.4%

Shares of Sumitomo Mitsui Financial Group stock opened at $16.05 on Thursday. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $17.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.75. The company's 50-day simple moving average is $16.48 and its 200-day simple moving average is $15.29. The firm has a market cap of $103.21 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 0.78 and a beta of 0.37.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The bank reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.09. Sumitomo Mitsui Financial Group had a net margin of 11.78% and a return on equity of 7.88%. The business had revenue of $16.41 billion for the quarter, compared to analyst estimates of $1,094.67 billion. As a group, equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd. Wall Street Zen upgraded shares of Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Zacks Research upgraded shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy".

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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