Rhumbline Advisers Has $1.54 Million Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Rhumbline Advisers reduced its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 24.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 91,733 shares of the bank’s stock after selling 29,156 shares during the quarter. Rhumbline Advisers’ holdings in Sumitomo Mitsui Financial Group were worth $1,536,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. True Wealth Design LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 3rd quarter worth $27,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Sumitomo Mitsui Financial Group by 163.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after purchasing an additional 1,227 shares during the last quarter. NewSquare Capital LLC boosted its holdings in Sumitomo Mitsui Financial Group by 204.7% during the second quarter. NewSquare Capital LLC now owns 2,029 shares of the bank’s stock worth $31,000 after purchasing an additional 1,363 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in Sumitomo Mitsui Financial Group in the 2nd quarter worth about $34,000. Finally, Salomon & Ludwin LLC grew its position in shares of Sumitomo Mitsui Financial Group by 2,443.8% during the 3rd quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,955 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SMFG has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research report on Monday, December 29th. Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a report on Saturday, February 14th. Finally, Zacks Research cut Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Sumitomo Mitsui Financial Group presently has a consensus rating of “Hold”.

Sumitomo Mitsui Financial Group Stock Performance

NYSE SMFG opened at $22.46 on Friday. The company has a 50-day simple moving average of $21.31 and a two-hundred day simple moving average of $18.47. Sumitomo Mitsui Financial Group Inc has a 12-month low of $11.83 and a 12-month high of $24.33. The firm has a market cap of $144.01 billion, a price-to-earnings ratio of 18.72, a PEG ratio of 0.87 and a beta of 0.36. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63.

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