Bank of America Corp DE Sells 937,548 Shares of Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Bank of America reduced its MUFG stake by 7.1%, selling 937,548 shares during the first quarter and retaining 12.23 million shares valued at approximately $207.5 million.
• Other institutional investors were generally buyers, including Toronto Dominion Bank, which increased its position by 251.7%, while institutional investors collectively owned 13.59% of MUFG.
• MUFG reported quarterly EPS of $0.45, beating estimates of $0.34, and revenue of $15.11 billion versus expectations of $10.06 billion. Analysts maintain a “Moderate Buy” consensus, although the stock was recently down 2.9%.

Bank of America Corp DE decreased its position in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,228,389 shares of the company's stock after selling 937,548 shares during the quarter. Bank of America Corp DE owned about 0.10% of Mitsubishi UFJ Financial Group worth $207,516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank increased its position in shares of Mitsubishi UFJ Financial Group by 251.7% during the fourth quarter. Toronto Dominion Bank now owns 4,816,589 shares of the company's stock worth $76,391,000 after buying an additional 3,447,183 shares during the period. Fisher Asset Management LLC boosted its position in Mitsubishi UFJ Financial Group by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 93,276,119 shares of the company's stock valued at $1,479,359,000 after acquiring an additional 1,789,620 shares during the last quarter. Clearbridge Investments LLC boosted its position in Mitsubishi UFJ Financial Group by 20.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,730,203 shares of the company's stock valued at $106,741,000 after acquiring an additional 1,121,241 shares during the last quarter. DV Equities LLC acquired a new stake in Mitsubishi UFJ Financial Group during the 4th quarter worth about $13,543,000. Finally, UBS Group AG raised its position in shares of Mitsubishi UFJ Financial Group by 48.9% in the 4th quarter. UBS Group AG now owns 2,350,819 shares of the company's stock worth $37,284,000 after acquiring an additional 772,272 shares in the last quarter. Institutional investors and hedge funds own 13.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MUFG shares. Weiss Ratings downgraded Mitsubishi UFJ Financial Group from a "buy (b)" rating to a "hold (c)" rating in a research note on Tuesday, July 14th. Erste Group Bank initiated coverage on Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They set a "buy" rating for the company. Finally, Mitsubishi UFJ Financial Group began coverage on Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Mitsubishi UFJ Financial Group Stock Down 2.9%

MUFG stock opened at $21.85 on Wednesday. The stock's 50 day simple moving average is $20.90 and its 200 day simple moving average is $19.08. Mitsubishi UFJ Financial Group, Inc. has a fifty-two week low of $13.86 and a fifty-two week high of $23.25. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $259.27 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 1.08 and a beta of 0.39.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.11. The firm had revenue of $15.11 billion during the quarter, compared to the consensus estimate of $10.06 billion. Mitsubishi UFJ Financial Group had a return on equity of 12.44% and a net margin of 17.63%. On average, research analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 1.47 earnings per share for the current fiscal year.

Mitsubishi UFJ Financial Group Profile

Mitsubishi UFJ Financial Group, Inc (MUFG) is a Tokyo-based financial services holding company and one of Japan's largest banking groups and among the world's leading financial institutions. The group was formed through the integration of Mitsubishi Tokyo Financial Group and UFJ Holdings and operates a comprehensive suite of banking and financial services for retail, corporate, and institutional clients. MUFG's core banking operations are conducted through its commercial banking arm and a network of domestic and international subsidiaries and affiliates.

MUFG offers a broad range of products and services including commercial and retail banking, corporate and investment banking, global transaction banking, trust banking, asset management, securities and brokerage services, credit cards, consumer finance, leasing and custody services.

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