Sumitomo Mitsui Financial Group Inc $SMFG Shares Acquired by XY Capital Ltd

Key Points

• XY Capital Ltd increased its stake in Sumitomo Mitsui Financial Group by 46.4% in the first quarter, buying 55,686 more shares and bringing its total to 175,608 shares valued at about $3.47 million.
• SMFG shares were up 4.0% and opened at $25.89, near their 12-month high of $26.67, giving the bank a market capitalization of about $165.18 billion.
• Recent analyst moves were mixed: Wall Street Zen and Zacks Research downgraded the stock, while Weiss Ratings upgraded it, leaving the overall consensus at a Moderate Buy.

XY Capital Ltd raised its stake in Sumitomo Mitsui Financial Group Inc (NYSE:SMFG - Free Report) by 46.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,608 shares of the bank's stock after purchasing an additional 55,686 shares during the period. Sumitomo Mitsui Financial Group accounts for 3.4% of XY Capital Ltd's holdings, making the stock its 8th biggest holding. XY Capital Ltd's holdings in Sumitomo Mitsui Financial Group were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in SMFG. Bridgewater Advisors Inc. grew its stake in shares of Sumitomo Mitsui Financial Group by 2.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 24,656 shares of the bank's stock valued at $513,000 after buying an additional 530 shares during the period. Park Square Financial Group LLC raised its stake in Sumitomo Mitsui Financial Group by 58.0% during the 4th quarter. Park Square Financial Group LLC now owns 1,629 shares of the bank's stock worth $31,000 after buying an additional 598 shares during the period. Sound Income Strategies LLC boosted its holdings in Sumitomo Mitsui Financial Group by 76.8% in the fourth quarter. Sound Income Strategies LLC now owns 1,404 shares of the bank's stock worth $30,000 after acquiring an additional 610 shares in the last quarter. Traveka Wealth LLC boosted its holdings in Sumitomo Mitsui Financial Group by 2.3% in the first quarter. Traveka Wealth LLC now owns 26,726 shares of the bank's stock worth $528,000 after acquiring an additional 613 shares in the last quarter. Finally, Anchyra Partners LLC grew its stake in Sumitomo Mitsui Financial Group by 4.5% in the first quarter. Anchyra Partners LLC now owns 14,329 shares of the bank's stock valued at $283,000 after acquiring an additional 620 shares during the period. Institutional investors and hedge funds own 3.85% of the company's stock.

Sumitomo Mitsui Financial Group Trading Up 4.0%

Shares of Sumitomo Mitsui Financial Group stock opened at $25.89 on Wednesday. The stock has a fifty day simple moving average of $23.90 and a 200 day simple moving average of $22.04. Sumitomo Mitsui Financial Group Inc has a 12-month low of $14.86 and a 12-month high of $26.67. The company has a market capitalization of $165.18 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 0.96 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $0.18 earnings per share for the quarter. Sumitomo Mitsui Financial Group had a return on equity of 10.19% and a net margin of 15.68%.The business had revenue of $7.31 billion for the quarter. On average, sell-side analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 1.86 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.

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