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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Get Free Report) 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 3.0 %

The stock has a market capitalization of $80.22 billion, a price-to-earnings ratio of 11.25, a P/E/G ratio of 2.83 and a beta of 0.60. The business has a 50-day moving average of $12.96 and a 200-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.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last announced its quarterly earnings results on Friday, August 2nd. The bank reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.06. The business had revenue of $16.18 billion during the quarter. Sumitomo Mitsui Financial Group had a net margin of 11.28% and a return on equity of 8.13%. On average, sell-side analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.4 EPS for the current year.

Insider Transactions at Sumitomo Mitsui Financial Group

In other news, Director Mitsui Financial Grou Sumitomo bought 9,247,081 shares of the company's stock in a transaction on Thursday, September 19th. The stock was bought at an average cost of $59.67 per share, with a total value 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.05% of the company's stock.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of large investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Sumitomo Mitsui Financial Group by 266.5% in 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 buying an additional 447,800 shares during the period. Benson Investment Management Company Inc. purchased a new position in Sumitomo Mitsui Financial Group in the third quarter worth approximately $5,182,000. Allspring Global Investments Holdings LLC grew its holdings in Sumitomo Mitsui Financial Group by 844.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 326,942 shares of the bank's stock worth $4,129,000 after acquiring an additional 292,334 shares in the last quarter. Capital Wealth Planning LLC increased its position in shares of Sumitomo Mitsui Financial Group by 100.8% in the 1st 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 last quarter. Finally, XY Capital Ltd acquired a new stake in shares of Sumitomo Mitsui Financial Group in the 2nd quarter valued at $1,495,000. Hedge funds and other institutional investors own 3.85% of the company's stock.

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.