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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) gapped down prior to trading 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.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of 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 current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 1.94. The firm has a fifty day moving average of $15.23 and a 200 day moving average of $14.19. The company has a market capitalization of $104.98 billion, a P/E ratio of 15.74, a P/E/G ratio of 2.36 and a beta of 0.59.

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

A number of hedge funds have recently added to or reduced their stakes in SMFG. FMR LLC lifted its position in Sumitomo Mitsui Financial Group by 16.5% during the fourth quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock valued at $121,474,000 after purchasing an additional 1,189,453 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in Sumitomo Mitsui Financial Group by 26.9% during the 4th quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock worth $92,509,000 after acquiring an additional 1,355,287 shares during the period. Northern Trust Corp lifted its holdings in Sumitomo Mitsui Financial Group by 79.3% during the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank’s stock valued at $72,877,000 after purchasing an additional 2,224,913 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Sumitomo Mitsui Financial Group by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock worth $42,015,000 after purchasing an additional 33,783 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Sumitomo Mitsui Financial Group by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank’s stock valued at $26,135,000 after purchasing an additional 70,946 shares during the period. 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.