Parr Mcknight Wealth Management Group LLC reduced its holdings in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 39.6% in the 1st quarter, according to its most recent disclosure 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 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 25.9% in the first quarter. Valeo Financial Advisors LLC now owns 20,099 shares of the bank's stock valued at $311,000 after buying an additional 4,140 shares in the last quarter. Pekin Hardy Strauss Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 3.3% in the first quarter. Pekin Hardy Strauss Inc. now owns 102,350 shares of the bank's stock valued at $1,582,000 after buying an additional 3,250 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 823.7% in the first quarter. TD Private Client Wealth LLC now owns 4,138 shares of the bank's stock valued at $64,000 after buying an additional 3,690 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 6.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank's stock valued at $29,737,000 after buying an additional 119,818 shares in the last quarter. Finally, World Investment Advisors grew its stake in shares of Sumitomo Mitsui Financial Group by 90.3% in the first quarter. World Investment Advisors now owns 26,968 shares of the bank's stock valued at $417,000 after buying an additional 12,799 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors and hedge funds.
Sumitomo Mitsui Financial Group Stock Performance
NYSE:SMFG traded up $0.10 during midday trading on Friday, reaching $14.91. 839,859 shares of the company traded hands, compared to its average volume of 1,575,413. Sumitomo Mitsui Financial Group Inc has a twelve month low of $10.74 and a twelve month high of $16.74. The firm has a market capitalization of $96.23 billion, a price-to-earnings ratio of 16.38, a price-to-earnings-growth ratio of 0.65 and a beta of 0.39. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.05 and a quick ratio of 1.05. The company has a fifty day moving average price of $14.89 and a 200 day moving average price of $14.75.
Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 earnings per share (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 company had revenue of $16.55 billion for the quarter. On average, analysts expect that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Wall Street Zen lowered Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a research note on Friday, June 27th. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a "strong-buy" rating in a research note on Thursday, July 3rd.
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Sumitomo Mitsui Financial Group Company Profile
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Free Report)
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.
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