Mitsubishi UFJ Financial Group (NYSE:MUFG) Upgraded to Strong-Buy at Zacks Research

Key Points

• Mitsubishi UFJ Financial Group has been upgraded from a "hold" rating to a "strong-buy" rating by Zacks Research, reflecting improved confidence in the company's stock performance.
• The company reported a quarterly earnings per share of $0.32, surpassing analyst expectations of $0.29, with a revenue of $22.10 billion.
• Institutional investors have been actively buying shares, with Fisher Asset Management increasing its position by 17.4% during the second quarter.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Wall Street Zen upgraded Mitsubishi UFJ Financial Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company currently has an average rating of "Strong Buy".

Mitsubishi UFJ Financial Group Stock Down 0.6%

NYSE MUFG traded down $0.10 during mid-day trading on Tuesday, hitting $15.31. The company's stock had a trading volume of 2,753,310 shares, compared to its average volume of 3,158,895. The company's 50 day simple moving average is $14.28 and its 200 day simple moving average is $13.46. Mitsubishi UFJ Financial Group has a twelve month low of $9.85 and a twelve month high of $16.16. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $184.70 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.40 and a beta of 0.39.

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

Institutional Investors Weigh In On Mitsubishi UFJ Financial Group

Hedge funds have recently made changes to their positions in the business. Opal Wealth Advisors LLC bought a new stake in shares of Mitsubishi UFJ Financial Group during the 2nd quarter worth $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in Mitsubishi UFJ Financial Group in the 1st quarter worth about $32,000. Ameritas Advisory Services LLC purchased a new stake in Mitsubishi UFJ Financial Group in the 2nd quarter worth about $36,000. Nisa Investment Advisors LLC purchased a new stake in Mitsubishi UFJ Financial Group in the 1st quarter worth about $41,000. Finally, Financial Management Professionals Inc. increased its holdings 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 worth $44,000 after acquiring an additional 1,754 shares during the last quarter. 13.59% of the stock is currently owned by institutional investors.

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.