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

Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) gapped up prior to trading on Friday . The stock had previously closed at $16.26, but opened at $16.71. Sumitomo Mitsui Financial Group shares last traded at $16.62, with a volume of 82,207 shares changing hands.

Analysts Set New Price Targets

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

Sumitomo Mitsui Financial Group Price Performance

The stock has a market capitalization of $107.89 billion, a P/E ratio of 16.16, a PEG ratio of 2.36 and a beta of 0.59. The business has a fifty day simple moving average of $15.14 and a 200-day simple moving average of $14.13. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Institutional investors and hedge funds have recently modified their holdings of the business. Capital A Wealth Management LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter worth approximately $25,000. Bessemer Group Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 138.1% in the 4th quarter. Bessemer Group Inc. now owns 1,929 shares of the bank’s stock worth $28,000 after purchasing an additional 1,119 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth $30,000. Park Square Financial Group LLC bought a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter worth $34,000. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of 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 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.