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 holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 39.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Valeo Financial Advisors LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 25.9% during the first quarter. Valeo Financial Advisors LLC now owns 20,099 shares of the bank's stock worth $311,000 after acquiring an additional 4,140 shares during the period. Pekin Hardy Strauss Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 3.3% during the first quarter. Pekin Hardy Strauss Inc. now owns 102,350 shares of the bank's stock worth $1,582,000 after acquiring an additional 3,250 shares during the period. TD Private Client Wealth LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 823.7% during the first quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank's stock worth $64,000 after acquiring an additional 3,690 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Sumitomo Mitsui Financial Group by 6.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank's stock worth $29,737,000 after acquiring an additional 119,818 shares during the period. Finally, World Investment Advisors raised its holdings in shares of Sumitomo Mitsui Financial Group by 90.3% during the first quarter. World Investment Advisors now owns 26,968 shares of the bank's stock worth $417,000 after acquiring an additional 12,799 shares during the period. 3.85% of the stock is owned by institutional investors.

Sumitomo Mitsui Financial Group Stock Performance

Shares of Sumitomo Mitsui Financial Group stock traded up $0.08 during trading on Friday, hitting $14.89. 2,039,008 shares of the stock were exchanged, compared to its average volume of 1,586,945. The stock has a market capitalization 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. The company has a fifty day moving average price of $14.91 and a 200-day moving average price of $14.76. 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.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its quarterly 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). The company had revenue of $16.55 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.57% and a return on equity of 7.74%. As a group, equities analysts predict that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SMFG shares. Wall Street Zen lowered shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Nomura Securities upgraded shares of Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd.

Sumitomo Mitsui Financial Group Company 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.