Parr Mcknight Wealth Management Group LLC Sells 95,766 Shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Parr Mcknight Wealth Management Group LLC cut its position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 39.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,335 shares of the bank's stock after selling 95,766 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in Sumitomo Mitsui Financial Group were worth $2,262,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Northern Trust Corp lifted its position in shares of Sumitomo Mitsui Financial Group by 79.3% in the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock worth $72,877,000 after acquiring an additional 2,224,913 shares during the period. Clark Capital Management Group Inc. lifted its holdings in shares of 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 acquiring an additional 1,355,287 shares during the period. FMR LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 16.5% during the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank's stock valued at $121,474,000 after acquiring an additional 1,189,453 shares in the last quarter. Bank of New York Mellon Corp raised its position in Sumitomo Mitsui Financial Group by 139.7% in the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock worth $10,807,000 after purchasing an additional 434,728 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in Sumitomo Mitsui Financial Group by 53.5% during the fourth quarter. Natixis Advisors LLC now owns 900,374 shares of the bank's stock worth $13,046,000 after purchasing an additional 313,642 shares during the period. 3.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on SMFG shares. Nomura Securities raised Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd. Wall Street Zen cut shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th.

Sumitomo Mitsui Financial Group Price Performance

Shares of Sumitomo Mitsui Financial Group stock traded down $0.07 during midday trading on Thursday, reaching $14.81. The company had a trading volume of 1,044,748 shares, compared to its average volume of 1,578,226. The stock has a fifty day simple moving average of $14.87 and a 200 day simple moving average of $14.75. Sumitomo Mitsui Financial Group Inc has a 1-year low of $10.74 and a 1-year high of $16.74. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.64. The company has a market capitalization of $95.61 billion, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.65 and a beta of 0.39.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a return on equity of 7.74% and a net margin of 11.57%. The firm had revenue of $16.55 billion for the quarter. As a group, equities research analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 earnings per share for the current 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.