Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Up – Time to Buy?

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price 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 traded.

Analyst Ratings Changes

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 Stock Performance

The business’s fifty day moving average is $15.19 and its two-hundred day moving average is $14.16. The stock has a market capitalization of $108.02 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 2.36 and a beta of 0.59. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 1.94.

Hedge Funds Weigh In On Sumitomo Mitsui Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Park Square Financial Group LLC bought a new position in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at about $34,000. Jefferies Financial Group Inc. lifted its stake in shares of Sumitomo Mitsui Financial Group by 7.6% in the 4th quarter. Jefferies Financial Group Inc. now owns 18,311 shares of the bank’s stock valued at $265,000 after purchasing an additional 1,290 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in shares of Sumitomo Mitsui Financial Group in the 4th quarter valued at approximately $25,000. Forum Financial Management LP increased its position in shares of Sumitomo Mitsui Financial Group by 15.0% during the 4th quarter. Forum Financial Management LP now owns 222,120 shares of the bank’s stock valued at $3,219,000 after purchasing an additional 28,997 shares during the last quarter. Finally, Parr Mcknight Wealth Management Group LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the 4th quarter valued at approximately $3,508,000. 3.85% of the stock is owned by hedge funds and other 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.