Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Down – What’s Next?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $16.36, but opened at $16.01. Sumitomo Mitsui Financial Group shares last traded at $16.07, with a volume of 115,394 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a report on Friday, March 21st.

Sumitomo Mitsui Financial Group Price Performance

The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The firm’s 50-day moving average price is $15.29 and its two-hundred day moving average price is $14.23. The stock has a market cap of $103.81 billion, a PE ratio of 15.57, a PEG ratio of 2.36 and a beta of 0.59.

Institutional Trading of Sumitomo Mitsui Financial Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its stake in shares of Sumitomo Mitsui Financial Group by 13.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 58,857 shares of the bank’s stock worth $743,000 after purchasing an additional 7,139 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Sumitomo Mitsui Financial Group by 12.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank’s stock valued at $5,127,000 after buying an additional 45,761 shares in the last quarter. Cerity Partners LLC grew its position in shares of Sumitomo Mitsui Financial Group by 31.7% in the 3rd quarter. Cerity Partners LLC now owns 353,043 shares of the bank’s stock worth $4,459,000 after buying an additional 84,989 shares during the last quarter. Fisher Asset Management LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 1.4% during the 3rd quarter. Fisher Asset Management LLC now owns 188,540 shares of the bank’s stock worth $2,381,000 after acquiring an additional 2,677 shares in the last quarter. Finally, FMR LLC boosted its stake in Sumitomo Mitsui Financial Group by 5.0% in the third quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock valued at $90,858,000 after acquiring an additional 342,604 shares in the last quarter. Institutional investors own 3.85% of the company’s stock.

About Sumitomo Mitsui Financial Group

Sumitomo Mitsui Financial Group, Inc, together with its subsidiaries, provides banking, leasing, securities, credit card, and consumer finance services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania. It operates through Wholesale Business Unit, Retail Business Unit, Global Business Unit, and Global Markets Business Unit segments.