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

Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) gapped down prior to trading on Wednesday . The stock had previously closed at $12.65, but opened at $12.24. Sumitomo Mitsui Financial Group shares last traded at $12.28, with a volume of 114,683 shares traded.

Sumitomo Mitsui Financial Group Stock Up 0.5 %

The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $80.71 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 2.72 and a beta of 0.60. The business’s 50 day moving average is $12.96 and its 200 day moving average is $12.73.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its earnings results on Friday, August 2nd. The bank reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.06. Sumitomo Mitsui Financial Group had a return on equity of 8.13% and a net margin of 11.28%. The firm had revenue of $16.18 billion for the quarter. Sell-side analysts anticipate that Sumitomo Mitsui Financial Group, Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling

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 cost of $59.67 per share, with a total value of $551,773,323.27. Following the acquisition, the director now directly owns 9,247,081 shares of the company’s stock, valued at approximately $551,773,323.27. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company’s stock.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of hedge funds have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Sumitomo Mitsui Financial Group by 266.5% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 615,800 shares of the bank’s stock valued at $8,258,000 after purchasing an additional 447,800 shares in the last quarter. Benson Investment Management Company Inc. purchased a new position in shares of Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $5,182,000. Leuthold Group LLC acquired a new position in Sumitomo Mitsui Financial Group in the 3rd quarter worth about $3,907,000. Allspring Global Investments Holdings LLC boosted its position in Sumitomo Mitsui Financial Group by 844.7% during the third 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 in the last quarter. Finally, Capital Wealth Planning LLC grew its holdings in Sumitomo Mitsui Financial Group by 100.8% in the first quarter. Capital Wealth Planning LLC now owns 235,566 shares of the bank’s stock valued at $2,773,000 after purchasing an additional 118,235 shares during the period. Hedge funds and other 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.