Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Down to $12.90

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share price gapped down before the market opened on Friday . The stock had previously closed at $12.90, but opened at $12.34. Sumitomo Mitsui Financial Group shares last traded at $12.27, with a volume of 756,459 shares trading hands.

Sumitomo Mitsui Financial Group Price Performance

The company has a market capitalization of $79.60 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.89 and a beta of 0.60. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.92. The business’s fifty day moving average price is $13.07 and its 200-day moving average price is $12.59.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, August 2nd. The bank reported $0.36 earnings per share 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 company had revenue of $16.18 billion during the quarter. As a group, sell-side analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 1.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Sumitomo Mitsui Financial Group

In other Sumitomo Mitsui Financial Group news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of Sumitomo Mitsui Financial Group stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $59.67 per share, with a total value of $551,773,323.27. Following the completion of the purchase, the director now owns 9,247,081 shares of the company’s stock, valued at $551,773,323.27. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Sumitomo Mitsui Financial Group by 18.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,799,584 shares of the bank’s stock valued at $27,100,000 after buying an additional 445,413 shares in the last quarter. Dorsey Wright & Associates bought a new stake in Sumitomo Mitsui Financial Group in the fourth quarter worth $2,069,000. Crossmark Global Holdings Inc. increased its holdings in shares of Sumitomo Mitsui Financial Group by 0.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 428,920 shares of the bank’s stock valued at $4,152,000 after acquiring an additional 3,440 shares in the last quarter. Morningstar Investment Services LLC raised its position in shares of Sumitomo Mitsui Financial Group by 102.7% in the 4th quarter. Morningstar Investment Services LLC now owns 166,304 shares of the bank’s stock worth $1,602,000 after purchasing an additional 84,276 shares during the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in Sumitomo Mitsui Financial Group during the 4th quarter valued at about $497,000. 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.