National Bank of Canada FI Acquires New Stake in Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)

Key Points

• National Bank of Canada FI has invested approximately $12.53 million in Mitsubishi UFJ Financial Group by acquiring 919,846 shares, as indicated in its recent SEC filing.
• Other institutional investors have also increased their holdings, with 13.59% of the stock currently owned by institutional investors and hedge funds.
• Analysts have upgraded Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating, reflecting a more favorable outlook for the company's performance.

National Bank of Canada FI purchased a new position in shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 919,846 shares of the company's stock, valued at approximately $12,534,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in Mitsubishi UFJ Financial Group in the 1st quarter valued at about $41,000. Financial Management Professionals Inc. boosted its position in Mitsubishi UFJ Financial Group by 116.7% in the 1st quarter. Financial Management Professionals Inc. now owns 3,257 shares of the company's stock valued at $44,000 after buying an additional 1,754 shares during the last quarter. Olde Wealth Management LLC purchased a new position in Mitsubishi UFJ Financial Group in the 1st quarter valued at about $87,000. Cary Street Partners Financial LLC purchased a new position in Mitsubishi UFJ Financial Group in the 4th quarter valued at about $98,000. Finally, Paradigm Asset Management Co. LLC acquired a new stake in shares of Mitsubishi UFJ Financial Group in the 1st quarter valued at about $122,000. 13.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th.

Mitsubishi UFJ Financial Group Stock Up 3.7%

Shares of Mitsubishi UFJ Financial Group stock traded up $0.57 during trading on Friday, reaching $15.91. The company had a trading volume of 6,047,963 shares, compared to its average volume of 3,637,573. The company has a market cap of $192.00 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.51 and a beta of 0.42. The firm's fifty day moving average is $13.92 and its 200-day moving average is $13.25. The company has a debt-to-equity ratio of 1.86, a quick ratio of 0.89 and a current ratio of 0.89. Mitsubishi UFJ Financial Group, Inc. has a fifty-two week low of $9.85 and a fifty-two week high of $16.16.

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

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.