Dorsey & Whitney Trust CO LLC Sells 5,685 Shares of Sumitomo Mitsui Financial Group Inc $SMFG

Dorsey & Whitney Trust CO LLC trimmed its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 7.5% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,780 shares of the bank’s stock after selling 5,685 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Sumitomo Mitsui Financial Group were worth $1,054,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of SMFG. Natixis Advisors LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 59.8% during the first quarter. Natixis Advisors LLC now owns 1,439,197 shares of the bank’s stock worth $22,250,000 after acquiring an additional 538,823 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 19.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,302,411 shares of the bank’s stock valued at $34,789,000 after purchasing an additional 378,909 shares during the period. Allianz SE acquired a new stake in shares of Sumitomo Mitsui Financial Group in the 1st quarter valued at about $3,401,000. Myriad Asset Management US LP bought a new stake in shares of Sumitomo Mitsui Financial Group in the second quarter valued at about $2,561,000. Finally, Northern Trust Corp boosted its position in shares of Sumitomo Mitsui Financial Group by 3.2% during the first quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock worth $80,219,000 after buying an additional 159,320 shares during the period. Institutional investors own 3.85% of the company’s stock.

Analysts Set New Price Targets

SMFG has been the topic of a number of recent research reports. Wall Street Zen raised Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group presently has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Stock Down 2.5%

NYSE:SMFG opened at $16.89 on Wednesday. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $17.58. The firm has a market capitalization of $108.55 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 0.78 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 1.75. The stock’s 50 day moving average price is $16.41 and its two-hundred day moving average price is $15.74.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings data on Friday, November 14th. The bank reported $0.59 EPS for the quarter, beating the consensus estimate of $0.40 by $0.19. The company had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $7.41 billion. Sumitomo Mitsui Financial Group had a return on equity of 7.88% and a net margin of 11.78%. Equities research analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current fiscal year.

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.