Ethic Inc. Purchases 46,640 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Ethic Inc. raised its stake in Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 415,612 shares of the bank's stock after buying an additional 46,640 shares during the quarter. Ethic Inc.'s holdings in Sumitomo Mitsui Financial Group were worth $6,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Clark Capital Management Group Inc. lifted its position in Sumitomo Mitsui Financial Group by 26.9% during the 4th 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. Cetera Investment Advisers lifted its stake in Sumitomo Mitsui Financial Group by 37.9% in the 4th quarter. Cetera Investment Advisers now owns 221,322 shares of the bank's stock valued at $3,207,000 after purchasing an additional 60,788 shares during the last quarter. Bank of America Corp DE grew its holdings in Sumitomo Mitsui Financial Group by 7.9% during the fourth quarter. Bank of America Corp DE now owns 1,776,384 shares of the bank's stock worth $25,740,000 after purchasing an additional 129,684 shares during the period. Lido Advisors LLC increased its position in Sumitomo Mitsui Financial Group by 8.7% during the fourth quarter. Lido Advisors LLC now owns 18,570 shares of the bank's stock worth $269,000 after buying an additional 1,480 shares during the last quarter. Finally, Northern Trust Corp raised its stake in Sumitomo Mitsui Financial Group by 79.3% in the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock valued at $72,877,000 after buying an additional 2,224,913 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Stock Performance

SMFG stock traded up $0.08 during midday trading on Thursday, reaching $14.71. 858,373 shares of the company were exchanged, compared to its average volume of 1,418,117. Sumitomo Mitsui Financial Group, Inc. has a one year low of $10.74 and a one year high of $16.74. The firm has a market capitalization of $95.20 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 2.36 and a beta of 0.40. The business has a 50-day moving average price of $14.37 and a two-hundred day moving average price of $14.50. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.05). The company had revenue of $16.55 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 8.52% and a net margin of 12.61%. Equities research analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, March 21st.

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.