Mitsubishi UFJ Financial Group (NYSE:MUFG) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Mitsubishi UFJ Financial Group (NYSE:MUFG) from a hold rating to a strong-buy rating in a report released on Monday,Zacks reports.

A number of other equities analysts have also issued reports on MUFG. Weiss Ratings raised shares of Mitsubishi UFJ Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, September 25th. Mitsubishi UFJ Financial Group assumed coverage on shares of Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a “buy” rating on the stock. Finally, Erste Group Bank initiated coverage on shares of Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Mitsubishi UFJ Financial Group Price Performance

Shares of NYSE:MUFG opened at $23.18 on Monday. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 1.10. The business has a 50 day moving average price of $22.88 and a 200 day moving average price of $20.57. The company has a market cap of $275.15 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.85 and a beta of 0.44. Mitsubishi UFJ Financial Group has a twelve month low of $14.62 and a twelve month high of $24.26.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10. Mitsubishi UFJ Financial Group had a return on equity of 12.30% and a net margin of 17.63%.The company had revenue of $15.11 billion during the quarter, compared to analyst estimates of $10.06 billion. Research analysts predict that Mitsubishi UFJ Financial Group will post 1.6 earnings per share for the current year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quantinno Capital Management LP raised its holdings in Mitsubishi UFJ Financial Group by 21.4% during the 1st quarter. Quantinno Capital Management LP now owns 2,399,601 shares of the company’s stock worth $40,721,000 after purchasing an additional 423,058 shares during the last quarter. XY Capital Ltd lifted its holdings in Mitsubishi UFJ Financial Group by 710.6% in the first quarter. XY Capital Ltd now owns 411,425 shares of the company’s stock valued at $6,982,000 after buying an additional 360,670 shares during the period. Royal Bank of Canada boosted its stake in Mitsubishi UFJ Financial Group by 5.7% in the first quarter. Royal Bank of Canada now owns 6,315,948 shares of the company’s stock valued at $107,182,000 after acquiring an additional 338,881 shares during the last quarter. QRG Capital Management Inc. grew its holdings in Mitsubishi UFJ Financial Group by 28.6% during the 2nd quarter. QRG Capital Management Inc. now owns 817,288 shares of the company’s stock worth $16,256,000 after acquiring an additional 181,696 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Mitsubishi UFJ Financial Group by 52.5% during the 1st quarter. First Trust Advisors LP now owns 476,447 shares of the company’s stock valued at $8,085,000 after acquiring an additional 164,083 shares during the last quarter. Institutional investors own 13.59% of the company’s stock.

About Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group, Inc (NYSE: MUFG) is a Japan-based financial services group and one of the country’s largest banking organizations. Through its subsidiaries and affiliated companies, MUFG provides commercial and retail banking, corporate and investment banking, trust banking, securities services, asset management, leasing, credit cards and consumer finance.

The group serves individual customers, businesses, financial institutions and governments. Its offerings include deposits and loans, payments, wealth management, capital-markets services, foreign exchange, corporate finance and advisory services.