Causeway Capital Management LLC Has $13.41 Million Holdings in Sumitomo Mitsui Financial Group Inc $SMFG

Causeway Capital Management LLC increased its holdings in shares of Sumitomo Mitsui Financial Group Inc (NYSE:SMFG) by 165.4% during the third quarter, Holdings Channel.com reports. The fund owned 800,903 shares of the bank’s stock after purchasing an additional 499,107 shares during the quarter. Causeway Capital Management LLC’s holdings in Sumitomo Mitsui Financial Group were worth $13,407,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. True Wealth Design LLC bought a new stake in Sumitomo Mitsui Financial Group in the 3rd quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Sumitomo Mitsui Financial Group by 163.2% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,979 shares of the bank’s stock worth $30,000 after purchasing an additional 1,227 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Sumitomo Mitsui Financial Group during the second quarter worth approximately $34,000. Salomon & Ludwin LLC increased its holdings in shares of Sumitomo Mitsui Financial Group by 2,443.8% during the third quarter. Salomon & Ludwin LLC now owns 2,035 shares of the bank’s stock worth $34,000 after purchasing an additional 1,955 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Sumitomo Mitsui Financial Group in the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 3.85% of the company’s stock.

Sumitomo Mitsui Financial Group Stock Performance

NYSE:SMFG opened at $20.35 on Tuesday. Sumitomo Mitsui Financial Group Inc has a twelve month low of $11.83 and a twelve month high of $24.33. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.63. The stock’s 50-day simple moving average is $21.44 and its 200 day simple moving average is $18.65. The firm has a market capitalization of $129.79 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.78 and a beta of 0.33.

Sumitomo Mitsui Financial Group (NYSE:SMFG) last issued its earnings results on Friday, January 30th. The bank reported $0.16 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.24). Sumitomo Mitsui Financial Group had a return on equity of 9.38% and a net margin of 13.81%.The business had revenue of $17.71 billion for the quarter, compared to analyst estimates of $7.93 billion. On average, analysts anticipate that Sumitomo Mitsui Financial Group Inc will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on SMFG. Wall Street Zen upgraded Sumitomo Mitsui Financial Group from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Sumitomo Mitsui Financial Group in a report on Monday, December 29th. Finally, Zacks Research lowered Sumitomo Mitsui Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sumitomo Mitsui Financial Group presently has an average rating of “Hold”.

Sumitomo Mitsui Financial Group Company Profile

Sumitomo Mitsui Financial Group, Inc (SMFG) is a Tokyo-based financial holding company that provides a broad range of banking and financial services through a network of domestic and international subsidiaries. Established in 2002 as a holding company for the Sumitomo Mitsui banking operations, SMFG’s core banking business is conducted primarily through its main operating bank, Sumitomo Mitsui Banking Corporation (SMBC), alongside other affiliates covering trust banking, securities, leasing and consumer finance.

The group’s product and service mix spans corporate and commercial banking, retail deposit and loan services, trade and project finance, cash management, syndicated lending, foreign exchange and treasury services, and capital markets and investment banking activities through its securities arm.