Mitsubishi UFJ Financial Group (NYSE:MUFG) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded MUFG from “hold” to “strong buy,” while other analysts also issued positive ratings; MarketBeat reports a consensus rating of “Buy.”
• MUFG reported quarterly EPS of $0.45, beating the $0.35 consensus estimate, and revenue of $15.11 billion versus the $10.06 billion forecast.
• The stock opened at $23.18, near its 52-week high of $24.26, with a market capitalization of approximately $275.15 billion; institutional investors and hedge funds own 13.59% of shares.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday, Zacks reports.

Other equities analysts have also issued research reports about the stock. Erste Group Bank 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. Weiss Ratings raised shares of Mitsubishi UFJ Financial Group from a "hold (c)" rating to a "buy (b-)" rating in a report on Friday, September 25th. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They issued a "buy" rating on the stock. Two analysts have rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy".

Mitsubishi UFJ Financial Group Price Performance

Shares of NYSE:MUFG opened at $23.18 on Monday. The stock has a market capitalization of $275.15 billion, a P/E ratio of 15.15, a P/E/G ratio of 0.85 and a beta of 0.44. The business has a 50-day moving average of $22.88 and a two-hundred day moving average of $20.57. Mitsubishi UFJ Financial Group has a fifty-two week low of $14.62 and a fifty-two week high of $24.26. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.85 and a quick ratio of 0.85.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, beating 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 business had revenue of $15.11 billion for the quarter, compared to analyst estimates of $10.06 billion. On average, equities research analysts predict that Mitsubishi UFJ Financial Group will post 1.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

Several large investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in Mitsubishi UFJ Financial Group by 5.7% in the 1st quarter. Royal Bank of Canada now owns 6,315,948 shares of the company's stock worth $107,182,000 after purchasing an additional 338,881 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Mitsubishi UFJ Financial Group by 21.4% during the first quarter. Quantinno Capital Management LP now owns 2,399,601 shares of the company's stock valued at $40,721,000 after buying an additional 423,058 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Mitsubishi UFJ Financial Group by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 1,363,726 shares of the company's stock valued at $23,142,000 after buying an additional 80,484 shares during the last quarter. Capital Wealth Planning LLC lifted its stake in shares of Mitsubishi UFJ Financial Group by 3.0% in the fourth quarter. Capital Wealth Planning LLC now owns 1,098,901 shares of the company's stock valued at $17,549,000 after buying an additional 32,310 shares during the period. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of Mitsubishi UFJ Financial Group by 8.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 996,963 shares of the company's stock valued at $15,812,000 after buying an additional 80,013 shares during the period. 13.59% of the stock is currently owned by institutional investors and hedge funds.

Mitsubishi UFJ Financial Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.