Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Down – Time to Sell?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG) gapped down before the market opened 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.

Sumitomo Mitsui Financial Group Stock Down 3.2 %

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 firm’s 50-day simple moving average is $12.97 and its 200 day simple moving average is $12.73. The company has a market capitalization of $80.06 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 2.83 and a beta of 0.60.

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 analysts’ consensus estimates of $0.30 by $0.06. Sumitomo Mitsui Financial Group had a net margin of 11.28% and a return on equity of 8.13%. The company had revenue of $16.18 billion for the quarter. As a group, equities research analysts forecast that Sumitomo Mitsui Financial Group, Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling at Sumitomo Mitsui Financial Group

In other news, Director Mitsui Financial Grou Sumitomo acquired 9,247,081 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average cost of $59.67 per share, for a total transaction of $551,773,323.27. Following the transaction, the director now directly owns 9,247,081 shares in the company, valued at $551,773,323.27. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.05% of the stock is currently owned by insiders.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SMFG. Addison Advisors LLC acquired a new position in Sumitomo Mitsui Financial Group in the 2nd quarter valued at approximately $25,000. Richardson Financial Services Inc. acquired a new position in shares of Sumitomo Mitsui Financial Group in the first quarter worth $29,000. Rothschild Investment LLC purchased a new stake in shares of Sumitomo Mitsui Financial Group during the second quarter worth $45,000. Ashton Thomas Private Wealth LLC acquired a new stake in Sumitomo Mitsui Financial Group during the second quarter valued at $59,000. Finally, AXA S.A. grew its stake in Sumitomo Mitsui Financial Group by 29.2% in the second quarter. AXA S.A. now owns 9,200 shares of the bank’s stock valued at $123,000 after purchasing an additional 2,081 shares in the last quarter. 3.85% of the stock is currently owned by institutional investors.

Sumitomo Mitsui Financial Group Company Profile

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.