Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Down – Here’s Why

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 changing hands.

Wall Street Analyst Weigh In

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

Sumitomo Mitsui Financial Group Price Performance

The company has a market cap of $104.98 billion, a P/E ratio of 15.74, a PEG ratio of 2.36 and a beta of 0.59. The firm’s 50-day moving average is $15.23 and its two-hundred day moving average is $14.19. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

Institutional Trading of Sumitomo Mitsui Financial Group

Hedge funds have recently made changes to their positions in the business. Capital A Wealth Management LLC bought a new stake in Sumitomo Mitsui Financial Group during the fourth quarter worth approximately $25,000. Bessemer Group Inc. lifted its holdings in Sumitomo Mitsui Financial Group by 138.1% during the fourth quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after buying an additional 1,119 shares during the period. Versant Capital Management Inc purchased a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth approximately $30,000. Park Square Financial Group LLC purchased a new position in Sumitomo Mitsui Financial Group during the 4th quarter worth $34,000. Finally, TD Waterhouse Canada Inc. boosted its stake in Sumitomo Mitsui Financial Group by 2,178.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 3,099 shares of the bank’s stock worth $45,000 after purchasing an additional 2,963 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.