Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Down – Should You 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 changing hands.

Sumitomo Mitsui Financial Group Price Performance

The stock has a 50 day moving average of $12.97 and a two-hundred day moving average of $12.73. 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 has a market capitalization of $80.06 billion, a P/E ratio of 11.25, a P/E/G ratio of 2.83 and a beta of 0.60.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last released its quarterly earnings results on Friday, August 2nd. The bank reported $0.36 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. Sell-side analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

Several large investors have recently added to or reduced their stakes in the company. Addison Advisors LLC acquired a new position in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at $25,000. Richardson Financial Services Inc. bought a new stake in Sumitomo Mitsui Financial Group in the first quarter valued at about $29,000. Rothschild Investment LLC acquired a new position in Sumitomo Mitsui Financial Group in the second quarter worth about $45,000. Ashton Thomas Private Wealth LLC bought a new position in Sumitomo Mitsui Financial Group during the second quarter worth about $59,000. Finally, Inspire Investing LLC acquired a new stake in Sumitomo Mitsui Financial Group during the first quarter valued at approximately $119,000. 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.