Royal Bank of Canada Lowers Stake in Mitsubishi UFJ Financial Group, Inc. $MUFG

Key Points

• Royal Bank of Canada reduced its stake in Mitsubishi UFJ Financial Group by 0.7%, owning approximately 5.98 million shares valued at $81.5 million as of the latest filing.
• Analysts' ratings for MUFG have improved, with Zacks Research upgrading the stock from "hold" to "strong-buy" and an overall consensus rating of "strong buy" among analysts.
• Quarterly earnings data showed Mitsubishi UFJ Financial Group reporting $0.32 EPS, exceeding estimates, while the company's revenue reached $22.1 billion compared to a consensus of $9.86 billion.

Royal Bank of Canada lowered its position in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,980,392 shares of the company's stock after selling 40,879 shares during the quarter. Royal Bank of Canada's holdings in Mitsubishi UFJ Financial Group were worth $81,513,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Evergreen Capital Management LLC lifted its holdings in Mitsubishi UFJ Financial Group by 0.9% during the first quarter. Evergreen Capital Management LLC now owns 87,011 shares of the company's stock valued at $1,186,000 after purchasing an additional 796 shares in the last quarter. Commerce Bank lifted its holdings in Mitsubishi UFJ Financial Group by 5.3% during the first quarter. Commerce Bank now owns 17,478 shares of the company's stock valued at $238,000 after purchasing an additional 878 shares in the last quarter. May Hill Capital LLC lifted its holdings in Mitsubishi UFJ Financial Group by 9.3% during the first quarter. May Hill Capital LLC now owns 11,258 shares of the company's stock valued at $153,000 after purchasing an additional 961 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Mitsubishi UFJ Financial Group by 3.2% during the first quarter. Lindbrook Capital LLC now owns 31,495 shares of the company's stock valued at $429,000 after purchasing an additional 983 shares in the last quarter. Finally, Wedmont Private Capital lifted its holdings in shares of Mitsubishi UFJ Financial Group by 3.9% in the first quarter. Wedmont Private Capital now owns 29,658 shares of the company's stock worth $404,000 after buying an additional 1,126 shares in the last quarter. Hedge funds and other institutional investors own 13.59% of the company's stock.

Mitsubishi UFJ Financial Group Price Performance

MUFG traded up $0.04 during trading hours on Tuesday, hitting $15.63. The company's stock had a trading volume of 2,877,040 shares, compared to its average volume of 5,741,244. The business's 50-day moving average price is $14.48 and its 200-day moving average price is $13.56. Mitsubishi UFJ Financial Group, Inc. has a 12 month low of $9.85 and a 12 month high of $16.16. The stock has a market cap of $188.56 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.11 and a beta of 0.39. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.86.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.03. Mitsubishi UFJ Financial Group had a net margin of 13.95% and a return on equity of 9.35%. The business had revenue of $22.10 billion for the quarter, compared to analysts' expectations of $9.86 billion. Sell-side analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on MUFG shares. Wall Street Zen raised shares of Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Zacks Research raised shares of Mitsubishi UFJ Financial Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has an average rating of "Strong Buy".

About Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group, Inc operates as the bank holding company, that engages in a range of financial businesses in Japan, the United States, Europe, Asia/Oceania, and internationally. It operates through seven segments: Digital Service, Retail & Commercial Banking, Japanese Corporate & Investment Banking, Global Commercial Banking, Asset Management & Investor Services, Global Corporate & Investment Banking, and Global Markets.