Sumitomo Mitsui Financial Group Inc $SMFG Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its stake in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 26.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,579 shares of the bank’s stock after selling 21,718 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Sumitomo Mitsui Financial Group were worth $1,177,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SMFG. Tudor Investment Corp ET AL lifted its stake in shares of Sumitomo Mitsui Financial Group by 112.5% in the 3rd quarter. Tudor Investment Corp ET AL now owns 927,179 shares of the bank’s stock valued at $15,521,000 after purchasing an additional 490,891 shares during the period. XY Capital Ltd acquired a new stake in Sumitomo Mitsui Financial Group during the third quarter valued at $1,164,000. Massachusetts Financial Services Co. MA increased its holdings in Sumitomo Mitsui Financial Group by 14.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 736,467 shares of the bank’s stock valued at $14,236,000 after buying an additional 93,024 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in Sumitomo Mitsui Financial Group by 31.7% in the third quarter. Capital Wealth Planning LLC now owns 786,865 shares of the bank’s stock valued at $13,172,000 after buying an additional 189,290 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 47.8% in the fourth quarter. Assetmark Inc. now owns 150,140 shares of the bank’s stock worth $2,902,000 after acquiring an additional 48,569 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SMFG has been the topic of several recent analyst reports. Zacks Research lowered shares of Sumitomo Mitsui Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 22nd. Wall Street Zen cut Sumitomo Mitsui Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Weiss Ratings raised Sumitomo Mitsui Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Sumitomo Mitsui Financial Group has a consensus rating of “Moderate Buy”.

Sumitomo Mitsui Financial Group Price Performance

SMFG traded up $0.24 during midday trading on Friday, hitting $25.72. 2,620,440 shares of the company traded hands, compared to its average volume of 1,792,215. The business has a 50 day simple moving average of $23.32 and a two-hundred day simple moving average of $21.72. Sumitomo Mitsui Financial Group Inc has a 52-week low of $14.40 and a 52-week high of $25.82. The company has a market capitalization of $164.10 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 0.99 and a beta of 0.42. 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 (NYSE:SMFG) last released its earnings results on Tuesday, March 31st. The bank reported $0.18 EPS for the quarter. Sumitomo Mitsui Financial Group had a net margin of 15.68% and a return on equity of 10.19%. The business had revenue of $7.31 billion during the quarter. On average, equities analysts forecast that Sumitomo Mitsui Financial Group Inc will post 1.87 earnings per share for the current fiscal 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.