Parr Mcknight Wealth Management Group LLC Has $2.26 Million Stake 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) by 39.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,335 shares of the bank’s stock after selling 95,766 shares during the period. 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 hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in Sumitomo Mitsui Financial Group by 16.5% during the fourth quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock valued at $121,474,000 after purchasing an additional 1,189,453 shares in the last quarter. Clark Capital Management Group Inc. lifted its stake in shares of Sumitomo Mitsui Financial Group by 26.9% in the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock valued at $92,509,000 after acquiring an additional 1,355,287 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Sumitomo Mitsui Financial Group by 79.3% during the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank’s stock valued at $72,877,000 after acquiring an additional 2,224,913 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Sumitomo Mitsui Financial Group by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock worth $42,015,000 after acquiring an additional 33,783 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Sumitomo Mitsui Financial Group by 6.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,923,502 shares of the bank’s stock worth $29,737,000 after purchasing an additional 119,818 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

Shares of SMFG opened at $14.89 on Thursday. 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 stock has a market capitalization of $96.13 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 0.65 and a beta of 0.39. The firm’s fifty day simple moving average is $14.87 and its two-hundred day simple moving average is $14.75. Sumitomo Mitsui Financial Group Inc has a 12 month low of $10.74 and a 12 month high of $16.74.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SMFG shares. Nomura Securities upgraded Sumitomo Mitsui Financial Group to a “strong-buy” rating in a report on Thursday, July 3rd. Wall Street Zen cut Sumitomo Mitsui Financial Group from a “hold” rating to a “sell” rating in a report on Friday, June 27th.

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.