Parr Mcknight Wealth Management Group LLC Reduces Stock Holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG)

Parr Mcknight Wealth Management Group LLC trimmed its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 39.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank's stock valued at $28,000 after acquiring an additional 1,119 shares during the period. Private Trust Co. NA boosted its holdings in shares of Sumitomo Mitsui Financial Group by 1,044.1% in the first quarter. Private Trust Co. NA now owns 2,334 shares of the bank's stock valued at $36,000 after acquiring an additional 2,130 shares during the period. Park Square Financial Group LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the fourth quarter worth $34,000. Finally, Financial Management Professionals Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 88.3% during the first quarter. Financial Management Professionals Inc. now owns 2,404 shares of the bank's stock worth $37,000 after purchasing an additional 1,127 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE SMFG traded up $0.08 during mid-day trading on Friday, hitting $14.89. 2,039,008 shares of the company were exchanged, compared to its average volume of 1,583,862. 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 quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.64. The stock has a 50 day simple moving average of $14.91 and a 200-day simple moving average of $14.76. The firm has a market cap of $96.13 billion, a price-to-earnings ratio of 16.36, 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 released its earnings results on Wednesday, May 21st. The bank reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. The business had revenue of $16.55 billion during the quarter. On average, sell-side analysts forecast that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Nomura Securities raised Sumitomo Mitsui Financial Group to a "strong-buy" rating in a report on Thursday, July 3rd. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a report on Friday, June 27th.

Sumitomo Mitsui Financial Group Profile

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.