Y Intercept Hong Kong Ltd Makes New $2.12 Million Investment in Sumitomo Mitsui Financial Group Inc $SMFG

Y Intercept Hong Kong Ltd purchased a new position in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 126,565 shares of the bank’s stock, valued at approximately $2,119,000.

A number of other hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC increased its stake in Sumitomo Mitsui Financial Group by 26.0% in the first quarter. AQR Capital Management LLC now owns 177,249 shares of the bank’s stock valued at $2,740,000 after acquiring an additional 36,522 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of Sumitomo Mitsui Financial Group by 40.5% in the 1st quarter. Focus Partners Wealth now owns 18,253 shares of the bank’s stock worth $282,000 after purchasing an additional 5,258 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 41.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 3,163 shares of the bank’s stock worth $49,000 after purchasing an additional 930 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Sumitomo Mitsui Financial Group by 336.4% during the 1st quarter. Acadian Asset Management LLC now owns 39,574 shares of the bank’s stock valued at $610,000 after purchasing an additional 30,506 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in shares of Sumitomo Mitsui Financial Group by 43.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 32,398 shares of the bank’s stock valued at $490,000 after buying an additional 9,876 shares in the last quarter. 3.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SMFG. Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 15th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a research note on Monday, December 29th. Finally, Wall Street Zen raised shares of Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Stock Performance

Shares of NYSE:SMFG opened at $20.96 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.03 and a debt-to-equity ratio of 1.65. The company has a 50-day moving average price of $19.45 and a 200-day moving average price of $17.34. The company has a market cap of $134.35 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.12 and a beta of 0.36. Sumitomo Mitsui Financial Group Inc has a 12 month low of $11.83 and a 12 month high of $21.54.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings results on Friday, November 14th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.19. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $7.41 billion. Sumitomo Mitsui Financial Group had a return on equity of 9.14% and a net margin of 13.80%. As a group, equities analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current year.

Sumitomo Mitsui Financial Group 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.