Rehmann Capital Advisory Group Sells 3,943 Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)

Rehmann Capital Advisory Group decreased its stake in shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFGGet Rating) by 16.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 20,259 shares of the bank’s stock after selling 3,943 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Sumitomo Mitsui Financial Group were worth $127,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SMFG. FDx Advisors Inc. increased its stake in Sumitomo Mitsui Financial Group by 105.0% in the first quarter. FDx Advisors Inc. now owns 30,826 shares of the bank’s stock valued at $193,000 after acquiring an additional 15,788 shares during the period. Morningstar Investment Services LLC boosted its position in Sumitomo Mitsui Financial Group by 5.8% in the first quarter. Morningstar Investment Services LLC now owns 55,339 shares of the bank’s stock valued at $364,000 after buying an additional 3,050 shares in the last quarter. Lake Street Advisors Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the fourth quarter valued at about $329,000. Signaturefd LLC boosted its position in Sumitomo Mitsui Financial Group by 4.3% in the first quarter. Signaturefd LLC now owns 196,941 shares of the bank’s stock valued at $1,235,000 after buying an additional 8,174 shares in the last quarter. Finally, Gilman Hill Asset Management LLC boosted its position in Sumitomo Mitsui Financial Group by 7.4% in the first quarter. Gilman Hill Asset Management LLC now owns 386,715 shares of the bank’s stock valued at $2,425,000 after buying an additional 26,535 shares in the last quarter. Institutional investors own 1.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SMFG shares. StockNews.com lowered shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Sunday, May 29th. Bank of America upgraded shares of Sumitomo Mitsui Financial Group from a “neutral” rating to a “buy” rating in a research report on Thursday, June 23rd.

Sumitomo Mitsui Financial Group Price Performance

Shares of SMFG stock opened at $6.06 on Friday. Sumitomo Mitsui Financial Group, Inc. has a 1 year low of $5.70 and a 1 year high of $7.74. The firm’s 50 day moving average is $6.08 and its 200-day moving average is $6.16. The firm has a market capitalization of $41.65 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 0.55 and a beta of 0.74. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 2.48.

Sumitomo Mitsui Financial Group (NYSE:SMFGGet Rating) last announced its earnings results on Friday, July 29th. The bank reported $0.28 earnings per share (EPS) for the quarter. Sumitomo Mitsui Financial Group had a net margin of 16.86% and a return on equity of 6.84%. The company had revenue of $10.28 billion for the quarter. Sell-side analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.81 EPS for the current fiscal year.

Sumitomo Mitsui Financial Group Profile

(Get Rating)

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides commercial banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through four segments: Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit.

Further Reading

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Institutional Ownership by Quarter for Sumitomo Mitsui Financial Group (NYSE:SMFG)

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