Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 52-Week High - Here's What Happened

Key Points

• Mitsubishi UFJ Financial Group (NYSE:MUFG) achieved a new 52-week high with stock trading at $15.04, a significant increase from a previous close of $14.49.
• Wall Street analysts have upgraded the stock from a "sell" rating to a "hold" as shares have shown promising performance.
• In its latest earnings report, the company exceeded expectations with a net income of $0.32 per share against an estimated $0.29, alongside a significant revenue of $22.10 billion.

Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $15.04 and last traded at $14.99, with a volume of 157675 shares traded. The stock had previously closed at $14.49.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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%

The firm has a market cap of $192.00 billion, a PE ratio of 14.73, a PEG ratio of 1.51 and a beta of 0.42. The business's 50 day moving average price is $13.92 and its 200 day moving average price is $13.25. 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 data on Monday, August 4th. The company reported $0.32 earnings per share (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 company had revenue of $22.10 billion during the quarter, compared to analysts' expectations of $9.86 billion. On average, equities research analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current year.

Institutional Trading of Mitsubishi UFJ Financial Group

Several large investors have recently bought and sold shares of MUFG. JPMorgan Chase & Co. grew its stake in Mitsubishi UFJ Financial Group by 50.8% during the 4th quarter. JPMorgan Chase & Co. now owns 389,603 shares of the company's stock valued at $4,566,000 after acquiring an additional 131,305 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Mitsubishi UFJ Financial Group by 36.4% during the 4th quarter. Russell Investments Group Ltd. now owns 73,844 shares of the company's stock valued at $865,000 after acquiring an additional 19,705 shares in the last quarter. Bank of Montreal Can boosted its holdings in Mitsubishi UFJ Financial Group by 47.0% in the 4th quarter. Bank of Montreal Can now owns 103,952 shares of the company's stock valued at $1,218,000 after purchasing an additional 33,220 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Mitsubishi UFJ Financial Group by 1.4% in the 4th quarter. Renaissance Technologies LLC now owns 561,631 shares of the company's stock valued at $6,582,000 after buying an additional 7,720 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Mitsubishi UFJ Financial Group in the 4th quarter valued at approximately $29,252,000. Hedge funds and other institutional investors own 13.59% of the company's stock.

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.