Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Up – Here’s What Happened

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG)’s share 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.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Sumitomo Mitsui Financial Group from a “sell” rating to a “hold” rating in a research note on Friday.

Sumitomo Mitsui Financial Group Trading Up 2.6 %

The stock has a fifty day moving average of $15.19 and a 200-day moving average of $14.16. The company has a market cap of $108.02 billion, a PE ratio of 16.20, a PEG ratio of 2.36 and a beta of 0.59. The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06.

Institutional Trading of Sumitomo Mitsui Financial Group

A number of large investors have recently made changes to their positions in SMFG. FMR LLC lifted its holdings in Sumitomo Mitsui Financial Group by 16.5% during the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank’s stock valued at $121,474,000 after buying an additional 1,189,453 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in shares of Sumitomo Mitsui Financial Group by 26.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 6,384,308 shares of the bank’s stock valued at $92,509,000 after acquiring an additional 1,355,287 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Sumitomo Mitsui Financial Group by 79.3% in the fourth quarter. Northern Trust Corp now owns 5,029,497 shares of the bank’s stock valued at $72,877,000 after purchasing an additional 2,224,913 shares during the period. Dimensional Fund Advisors LP grew its stake in Sumitomo Mitsui Financial Group by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,899,574 shares of the bank’s stock worth $42,015,000 after purchasing an additional 33,783 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Sumitomo Mitsui Financial Group by 4.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,803,684 shares of the bank’s stock worth $26,135,000 after purchasing an additional 70,946 shares during the period. 3.85% of the stock is 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.