Mitsubishi UFJ Financial Group (NYSE:MUFG) Shares Gap Down - Here's Why

Key Points

• Mitsubishi UFJ Financial Group shares gapped down from $15.32 to $14.92 before trading, with the last recorded price being $14.93.
• Brokerages have upgraded the company's rating, with Zacks Research shifting from "hold" to "strong-buy," while the average rating is currently "Strong Buy."
• The company's latest quarterly earnings exceeded expectations, reporting $0.32 earnings per share against a consensus estimate of $0.29, alongside significant revenue of $22.10 billion.

Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $15.32, but opened at $14.92. Mitsubishi UFJ Financial Group shares last traded at $14.93, with a volume of 182,923 shares traded.

Analyst Ratings Changes

A number of brokerages have commented on MUFG. Zacks Research upgraded shares of Mitsubishi UFJ Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. 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. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Mitsubishi UFJ Financial Group presently has an average rating of "Strong Buy".

Mitsubishi UFJ Financial Group Price Performance

The firm's 50-day moving average price is $14.35 and its two-hundred day moving average price is $13.49. The stock has a market cap of $180.38 billion, a PE ratio of 13.86, a PEG ratio of 1.40 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 announced its quarterly earnings results on Monday, August 4th. The company reported $0.32 earnings per share for the quarter, topping 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 analysts' expectations of $9.86 billion. On average, equities analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mitsubishi UFJ Financial Group

A number of hedge funds and other institutional investors have recently bought and sold shares of MUFG. Opal Wealth Advisors LLC purchased a new stake in Mitsubishi UFJ Financial Group during the second quarter valued at approximately $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Mitsubishi UFJ Financial Group during the first quarter valued at approximately $32,000. Ameritas Advisory Services LLC purchased a new stake in Mitsubishi UFJ Financial Group during the second quarter valued at approximately $36,000. Nisa Investment Advisors LLC purchased a new stake in Mitsubishi UFJ Financial Group during the first quarter valued at approximately $41,000. Finally, Financial Management Professionals Inc. lifted its position in Mitsubishi UFJ Financial Group by 116.7% during the first quarter. Financial Management Professionals Inc. now owns 3,257 shares of the company's stock valued at $44,000 after acquiring an additional 1,754 shares during the last quarter. 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.

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