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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $14.18, but opened at $14.67. Sumitomo Mitsui Financial Group shares last traded at $14.71, with a volume of 74,158 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 23rd.

Sumitomo Mitsui Financial Group Price Performance

The stock’s 50 day moving average is $13.18 and its two-hundred day moving average is $13.11. The stock has a market capitalization of $96.28 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 3.21 and a beta of 0.59. The company has a debt-to-equity ratio of 1.91, a current ratio of 1.06 and a quick ratio of 1.05.

Insider Buying and Selling at Sumitomo Mitsui Financial Group

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were acquired at an average price of $59.67 per share, for a total transaction of $551,773,323.27. Following the acquisition, the director now owns 9,247,081 shares in the company, valued at $551,773,323.27. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.05% of the company’s stock.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Addison Advisors LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at $25,000. Rothschild Investment LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at about $45,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the second quarter worth about $59,000. Assetmark Inc. raised its holdings in Sumitomo Mitsui Financial Group by 23.6% during the third quarter. Assetmark Inc. now owns 8,738 shares of the bank’s stock worth $110,000 after purchasing an additional 1,669 shares in the last quarter. Finally, AXA S.A. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 29.2% in the 2nd quarter. AXA S.A. now owns 9,200 shares of the bank’s stock valued at $123,000 after buying an additional 2,081 shares during the period. 3.85% of the stock is owned by institutional investors and hedge funds.

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.