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

Key Points

• Mitsubishi UFJ Financial Group shares hit a new 52-week high on Friday, trading as high as $22.96 and closing at that level, up from the prior close of $22.62.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus, with recent coverage including a new buy rating from Erste Group Bank and a downgrade from Weiss Ratings to hold.
• The stock’s recent strength comes alongside solid institutional interest, as hedge funds and other investors have been adding to or initiating positions, while MUFG remains a large global banking group with a market cap of $272.78 billion.

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $22.96 and last traded at $22.96, with a volume of 6346 shares. The stock had previously closed at $22.62.

Analyst Ratings Changes

Several equities research analysts have commented on MUFG shares. 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. Weiss Ratings lowered shares of Mitsubishi UFJ Financial Group from a "buy (b)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They set a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Mitsubishi UFJ Financial Group Trading Up 1.6%

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.75. The business has a 50 day simple moving average of $20.40 and a two-hundred day simple moving average of $18.78. The stock has a market cap of $272.78 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.08 and a beta of 0.39.

Institutional Trading of Mitsubishi UFJ Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of MUFG. City Holding Co. acquired a new position in Mitsubishi UFJ Financial Group during the 2nd quarter valued at approximately $99,000. Valeo Financial Advisors LLC increased its position in Mitsubishi UFJ Financial Group by 15.6% in the second quarter. Valeo Financial Advisors LLC now owns 37,187 shares of the company's stock worth $740,000 after buying an additional 5,006 shares during the period. Gradient Investments LLC lifted its stake in Mitsubishi UFJ Financial Group by 5.7% in the second quarter. Gradient Investments LLC now owns 301,721 shares of the company's stock valued at $6,001,000 after buying an additional 16,157 shares during the last quarter. Trust Point Inc. boosted its holdings in shares of Mitsubishi UFJ Financial Group by 1.5% during the second quarter. Trust Point Inc. now owns 49,093 shares of the company's stock valued at $976,000 after acquiring an additional 712 shares during the period. Finally, Elevation Wealth Partners LLC acquired a new position in shares of Mitsubishi UFJ Financial Group during the second quarter valued at $25,000. 13.59% of the stock is owned by institutional investors and hedge funds.

Mitsubishi UFJ Financial Group Company 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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