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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $15.41, but opened at $15.03. Sumitomo Mitsui Financial Group shares last traded at $15.03, with a volume of 136,274 shares.

Analyst Ratings Changes

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

Sumitomo Mitsui Financial Group Price Performance

The stock has a 50 day moving average of $13.32 and a two-hundred day moving average of $13.19. The stock has a market cap of $97.98 billion, a PE ratio of 12.95, a PEG ratio of 3.46 and a beta of 0.63. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.05 and a current ratio of 1.06.

Insider Buying and Selling

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

Institutional Investors Weigh In On Sumitomo Mitsui Financial Group

Several large investors have recently made changes to their positions in SMFG. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Sumitomo Mitsui Financial Group by 266.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock worth $8,258,000 after purchasing an additional 447,800 shares during the last quarter. Benson Investment Management Company Inc. acquired a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $5,182,000. FMR LLC lifted its holdings in Sumitomo Mitsui Financial Group by 5.0% in the 3rd quarter. FMR LLC now owns 7,193,840 shares of the bank’s stock worth $90,858,000 after purchasing an additional 342,604 shares during the last quarter. Leuthold Group LLC acquired a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter worth approximately $3,907,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Sumitomo Mitsui Financial Group by 844.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank’s stock worth $4,129,000 after purchasing an additional 292,334 shares during 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.