Rhumbline Advisers Decreases Stock Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Rhumbline Advisers reduced its position in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 24.1% in the third quarter, HoldingsChannel.com reports. The firm owned 91,733 shares of the bank’s stock after selling 29,156 shares during the period. Rhumbline Advisers’ holdings in Sumitomo Mitsui Financial Group were worth $1,536,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. AQR Capital Management LLC raised its position in Sumitomo Mitsui Financial Group by 26.0% during the 1st quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after purchasing an additional 36,522 shares during the last quarter. Focus Partners Wealth raised its holdings in shares of Sumitomo Mitsui Financial Group by 40.5% during the first quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock valued at $282,000 after acquiring an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 41.6% during the first quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock valued at $49,000 after acquiring an additional 930 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Sumitomo Mitsui Financial Group by 336.4% in the first quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock worth $610,000 after acquiring an additional 30,506 shares during the period. Finally, Sivia Capital Partners LLC lifted its stake in Sumitomo Mitsui Financial Group by 43.9% in the second quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock worth $490,000 after acquiring an additional 9,876 shares during the period. 3.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SMFG shares. Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 15th. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Price Performance

SMFG stock opened at $22.46 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50 day moving average price of $21.31 and a 200-day moving average price of $18.47. Sumitomo Mitsui Financial Group Inc has a 52-week low of $11.83 and a 52-week high of $24.33. The firm has a market capitalization of $144.01 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 0.87 and a beta of 0.36.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last posted its quarterly earnings data on Friday, January 30th. The bank reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.24). The company had revenue of $17.71 billion for the quarter, compared to the consensus estimate of $7.93 billion. Sumitomo Mitsui Financial Group had a net margin of 13.81% and a return on equity of 9.38%. Equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.