Sumitomo Mitsui Financial Group (NYSE:SMFG) Shares Gap Up - Should You Buy?

Shares of Sumitomo Mitsui Financial Group, Inc. (NYSE:SMFG - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $12.23, but opened at $13.34. Sumitomo Mitsui Financial Group shares last traded at $13.11, with a volume of 220,953 shares trading hands.

Analyst Ratings Changes

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

Sumitomo Mitsui Financial Group Stock Up 3.6 %

The company has a debt-to-equity ratio of 1.94, a quick ratio of 1.05 and a current ratio of 1.06. The company's fifty day moving average price is $14.98 and its 200-day moving average price is $14.32. The stock has a market cap of $83.55 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 2.36 and a beta of 0.41.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SMFG. Northern Trust Corp lifted its stake in shares of Sumitomo Mitsui Financial Group by 79.3% during the 4th quarter. Northern Trust Corp now owns 5,029,497 shares of the bank's stock worth $72,877,000 after acquiring an additional 2,224,913 shares during the last quarter. Clark Capital Management Group Inc. lifted its position 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 worth $92,509,000 after purchasing an additional 1,355,287 shares during the last quarter. FMR LLC boosted its stake in shares of 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 purchasing an additional 1,189,453 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sumitomo Mitsui Financial Group by 60.6% during the third quarter. JPMorgan Chase & Co. now owns 1,369,950 shares of the bank's stock valued at $17,302,000 after purchasing an additional 517,179 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Sumitomo Mitsui Financial Group by 139.7% in the fourth quarter. Bank of New York Mellon Corp now owns 745,849 shares of the bank's stock worth $10,807,000 after purchasing an additional 434,728 shares during the last quarter. 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.