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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $14.71, but opened at $14.30. Sumitomo Mitsui Financial Group shares last traded at $14.34, with a volume of 96,047 shares.

Analysts Set New Price Targets

Separately, StockNews.com upgraded 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 Performance

The stock has a market capitalization of $92.94 billion, a PE ratio of 13.94, a PEG ratio of 2.36 and a beta of 0.40. 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 firm has a 50 day moving average price of $14.35 and a 200-day moving average price of $14.54.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last announced its quarterly earnings data on Wednesday, May 21st. The bank reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.05). Sumitomo Mitsui Financial Group had a return on equity of 8.52% and a net margin of 12.61%. The firm had revenue of $16.55 billion during the quarter. Research analysts expect that Sumitomo Mitsui Financial Group, Inc. will post 0.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank’s stock worth $174,255,000 after purchasing an additional 53,612 shares during the last quarter. FMR LLC raised its position in Sumitomo Mitsui Financial Group by 16.5% during the fourth quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock valued at $121,474,000 after acquiring an additional 1,189,453 shares in the last quarter. Clark Capital Management Group Inc. raised its position in Sumitomo Mitsui Financial Group by 1.8% during the first quarter. Clark Capital Management Group Inc. now owns 6,496,260 shares of the bank’s stock valued at $100,432,000 after acquiring an additional 111,952 shares in the last quarter. Northern Trust Corp raised its position in Sumitomo Mitsui Financial Group by 3.2% during the first quarter. Northern Trust Corp now owns 5,188,817 shares of the bank’s stock valued at $80,219,000 after acquiring an additional 159,320 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Sumitomo Mitsui Financial Group by 1.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock valued at $42,015,000 after acquiring an additional 33,783 shares in the last quarter. 3.85% of the stock is currently owned by hedge funds and other institutional investors.

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.