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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) 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 trading hands.

Wall Street Analysts Forecast Growth

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

Sumitomo Mitsui Financial Group Trading Up 3.8 %

The firm has a market cap of $96.28 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 3.21 and a beta of 0.59. The business has a fifty day moving average of $13.18 and a two-hundred day moving average of $13.11. 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 at Sumitomo Mitsui Financial Group

In related news, Director Mitsui Financial Grou Sumitomo purchased 9,247,081 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.05% of the stock is currently owned by insiders.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of hedge funds have recently bought and sold shares of SMFG. Addison Advisors LLC purchased a new position in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth $25,000. Rothschild Investment LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the second quarter worth approximately $45,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group during the 2nd quarter worth $59,000. Assetmark Inc. increased its stake 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 acquiring an additional 1,669 shares during the last quarter. Finally, AXA S.A. increased its position in Sumitomo Mitsui Financial Group by 29.2% during the 2nd quarter. AXA S.A. now owns 9,200 shares of the bank’s stock worth $123,000 after purchasing an additional 2,081 shares in the last quarter. Institutional investors and hedge funds 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.