Flatrock Wealth Partners LLC Buys Shares of 40,192 Sumitomo Mitsui Financial Group Inc $SMFG

Flatrock Wealth Partners LLC bought a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 1st quarter, Holdings Channel reports. The firm bought 40,192 shares of the bank’s stock, valued at approximately $794,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ascentis Independent Advisors purchased a new position in Sumitomo Mitsui Financial Group during the first quarter valued at $27,000. PFS Partners LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group in the fourth quarter worth $27,000. Sound Income Strategies LLC increased its holdings in shares of Sumitomo Mitsui Financial Group by 76.8% during the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank’s stock valued at $30,000 after acquiring an additional 610 shares in the last quarter. Bayban bought a new position in shares of Sumitomo Mitsui Financial Group during the fourth quarter valued at $30,000. Finally, Cornerstone Planning Group LLC raised its position in shares of Sumitomo Mitsui Financial Group by 3,149.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 1,592 shares of the bank’s stock worth $33,000 after purchasing an additional 1,543 shares during the last quarter. Hedge funds and other institutional investors own 3.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research cut Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings upgraded Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Trading Down 0.9%

Shares of SMFG stock opened at $25.28 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.48. Sumitomo Mitsui Financial Group Inc has a 12-month low of $14.40 and a 12-month high of $25.57. The stock has a market capitalization of $161.25 billion, a P/E ratio of 18.86, a P/E/G ratio of 0.69 and a beta of 0.42. The firm’s 50 day moving average is $23.02 and its 200 day moving average is $21.60.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. The firm had revenue of $7.31 billion for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%. Research analysts expect that Sumitomo Mitsui Financial Group Inc will post 1.83 earnings per share for the current year.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.