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

Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $15.45, but opened at $15.14. Sumitomo Mitsui Financial Group shares last traded at $15.10, with a volume of 93,218 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Sumitomo Mitsui Financial Group from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Sumitomo Mitsui Financial Group Stock Up 1.8%

The business has a 50-day moving average of $14.15 and a 200 day moving average of $14.64. The company has a market capitalization of $99.64 billion, a PE ratio of 14.94, a P/E/G ratio of 2.36 and a beta of 0.40. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.06 and a quick ratio of 1.05.

Sumitomo Mitsui Financial Group (NYSE:SMFG - Get Free Report) last issued 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 for the quarter. Equities research analysts predict that Sumitomo Mitsui Financial Group, Inc. will post 0.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Sumitomo Mitsui Financial Group by 0.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 11,271,361 shares of the bank's stock worth $174,255,000 after acquiring an additional 53,612 shares during the last quarter. FMR LLC lifted its stake in shares of Sumitomo Mitsui Financial Group by 16.5% during the 4th quarter. FMR LLC now owns 8,383,293 shares of the bank's stock worth $121,474,000 after acquiring an additional 1,189,453 shares during the last quarter. Clark Capital Management Group Inc. grew its position in Sumitomo Mitsui Financial Group by 1.8% in the 1st 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 during the last quarter. Northern Trust Corp lifted its position in shares of 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 worth $80,219,000 after purchasing an additional 159,320 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of 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 during the last quarter. 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.