Flatrock Wealth Partners LLC Purchases New Stake in Sumitomo Mitsui Financial Group Inc $SMFG

Flatrock Wealth Partners LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 40,192 shares of the bank’s stock, valued at approximately $794,000.

A number of other large investors have also added to or reduced their stakes in SMFG. Kathmere Capital Management LLC increased its position in shares of Sumitomo Mitsui Financial Group by 28.6% in the first quarter. Kathmere Capital Management LLC now owns 24,704 shares of the bank’s stock valued at $488,000 after acquiring an additional 5,497 shares during the period. Abel Hall LLC boosted its holdings in shares of Sumitomo Mitsui Financial Group by 20.2% during the first quarter. Abel Hall LLC now owns 34,886 shares of the bank’s stock worth $689,000 after purchasing an additional 5,873 shares during the period. Ascentis Independent Advisors bought a new stake in shares of Sumitomo Mitsui Financial Group in the first quarter worth about $27,000. Walkner Condon Financial Advisors LLC grew its stake in shares of Sumitomo Mitsui Financial Group by 22.3% in the first quarter. Walkner Condon Financial Advisors LLC now owns 14,282 shares of the bank’s stock worth $282,000 after purchasing an additional 2,605 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in Sumitomo Mitsui Financial Group by 36.7% during the 1st quarter. V Square Quantitative Management LLC now owns 7,699 shares of the bank’s stock valued at $152,000 after purchasing an additional 2,065 shares during the period. Institutional investors own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Down 0.9%

Shares of NYSE:SMFG opened at $25.28 on Wednesday. The firm 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 company has a debt-to-equity ratio of 1.48, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a 50 day moving average price of $23.02 and a 200-day moving average price of $21.60. Sumitomo Mitsui Financial Group Inc has a 52-week low of $14.40 and a 52-week high of $25.57.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. The company 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%. As a group, equities research analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings upgraded Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Zacks Research lowered Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

About Sumitomo Mitsui Financial Group

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.