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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.46, but opened at $15.08. Sumitomo Mitsui Financial Group shares last traded at $15.00, with a volume of 163,714 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Sumitomo Mitsui Financial Group from a "sell" rating to a "hold" rating in a research note on Friday, March 21st.

Sumitomo Mitsui Financial Group Stock Down 8.6 %

The stock has a market cap of $80.25 billion, a P/E ratio of 12.03, a PEG 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. The business has a 50-day simple moving average of $15.30 and a 200-day simple moving average of $14.32.

Institutional Trading of Sumitomo Mitsui Financial Group

Several hedge funds have recently added to or reduced their stakes in SMFG. Charles Schwab Investment Management Inc. grew its holdings in shares of Sumitomo Mitsui Financial Group by 12.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 405,921 shares of the bank's stock worth $5,127,000 after purchasing an additional 45,761 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Sumitomo Mitsui Financial Group by 76.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,485 shares of the bank's stock valued at $8,301,000 after buying an additional 249,543 shares during the period. Capital Insight Partners LLC raised its stake in shares of Sumitomo Mitsui Financial Group by 59.9% in the 4th quarter. Capital Insight Partners LLC now owns 49,157 shares of the bank's stock valued at $712,000 after buying an additional 18,415 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Sumitomo Mitsui Financial Group by 83.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 42,309 shares of the bank's stock valued at $616,000 after acquiring an additional 19,224 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Sumitomo Mitsui Financial Group by 60.6% in the third quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank's stock valued at $17,302,000 after acquiring an additional 517,179 shares during the period. 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.