Mitsubishi UFJ Financial Group (NYSE:MUFG) Rating Increased to Hold at Wall Street Zen

Key Points

• Analysts at Wall Street Zen upgraded Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a recent research note.
• The company's shares opened at $14.55, showing a notable increase from a 1-year low of $9.54.
• Mitsubishi UFJ reported earnings of $0.32 EPS for the last quarter, exceeding analysts' expectations of $0.29.

Wall Street Zen upgraded shares of Mitsubishi UFJ Financial Group (NYSE:MUFG - Free Report) from a sell rating to a hold rating in a research note issued to investors on Saturday.

Mitsubishi UFJ Financial Group Stock Performance

Shares of Mitsubishi UFJ Financial Group stock traded down $0.07 on Friday, reaching $14.50. 1,928,461 shares of the company traded hands, compared to its average volume of 6,032,524. Mitsubishi UFJ Financial Group has a 52 week low of $9.60 and a 52 week high of $15.03. The company has a 50 day moving average of $13.79 and a 200 day moving average of $13.17. The firm has a market capitalization of $174.92 billion, a PE ratio of 13.42, a PEG ratio of 1.43 and a beta of 0.42. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.89.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $9.86 billion. Equities analysts forecast that Mitsubishi UFJ Financial Group will post 0.99 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. TD Waterhouse Canada Inc. boosted its position in shares of Mitsubishi UFJ Financial Group by 7.7% in the second quarter. TD Waterhouse Canada Inc. now owns 260,343 shares of the company's stock worth $3,572,000 after purchasing an additional 18,675 shares during the period. Portside Wealth Group LLC lifted its holdings in shares of Mitsubishi UFJ Financial Group by 2.4% in the 2nd quarter. Portside Wealth Group LLC now owns 49,951 shares of the company's stock worth $685,000 after acquiring an additional 1,153 shares during the last quarter. Frank Rimerman Advisors LLC bought a new stake in Mitsubishi UFJ Financial Group during the 2nd quarter valued at about $146,000. Intrust Bank NA increased its position in Mitsubishi UFJ Financial Group by 10.8% during the 2nd quarter. Intrust Bank NA now owns 106,712 shares of the company's stock valued at $1,464,000 after purchasing an additional 10,407 shares during the period. Finally, Kingsview Wealth Management LLC increased its position in Mitsubishi UFJ Financial Group by 6.9% during the 2nd quarter. Kingsview Wealth Management LLC now owns 14,493 shares of the company's stock valued at $199,000 after purchasing an additional 930 shares during the period. 13.59% of the stock is owned by hedge funds and other institutional investors.

Mitsubishi UFJ Financial Group Company Profile

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.