Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 1-Year High - Here's Why

Key Points

• MUFG shares reached a new 52-week high, trading as high as $23.37 and last changing hands around $23.40, up from a prior close of $22.83.
• The company reported strong quarterly results, earning $0.45 per share versus the $0.35 consensus estimate and generating $15.11 billion in revenue against expectations of $10.06 billion.
• Analyst sentiment remains favorable overall, with a consensus “Moderate Buy” rating, while institutional investors increased their holdings; institutions and hedge funds collectively own 13.59% of the stock.

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.37 and last traded at $23.4030, with a volume of 293604 shares changing hands. The stock had previously closed at $22.83.

Analyst Ratings Changes

A number of research firms recently commented on MUFG. Weiss Ratings downgraded Mitsubishi UFJ Financial Group from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Mitsubishi UFJ Financial Group started coverage on Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a "buy" rating on the stock. Finally, Erste Group Bank began coverage on Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They set a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Mitsubishi UFJ Financial Group Stock Performance

The stock has a market capitalization of $277.41 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.02 and a beta of 0.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average of $21.92 and a 200-day moving average of $19.64.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.10. Mitsubishi UFJ Financial Group had a return on equity of 12.30% and a net margin of 17.63%.The business had revenue of $15.11 billion for the quarter, compared to the consensus estimate of $10.06 billion. As a group, sell-side analysts predict that Mitsubishi UFJ Financial Group, Inc. will post 1.57 earnings per share for the current year.

Institutional Trading of Mitsubishi UFJ Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC increased its stake in shares of Mitsubishi UFJ Financial Group by 3.3% in the second quarter. HB Wealth Management LLC now owns 90,600 shares of the company's stock worth $1,802,000 after acquiring an additional 2,925 shares during the period. Syon Capital LLC grew its position in Mitsubishi UFJ Financial Group by 7.0% during the 2nd quarter. Syon Capital LLC now owns 33,982 shares of the company's stock worth $676,000 after purchasing an additional 2,212 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of Mitsubishi UFJ Financial Group by 3.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 928,117 shares of the company's stock valued at $18,816,000 after buying an additional 32,348 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Mitsubishi UFJ Financial Group by 47.5% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 22,534 shares of the company's stock valued at $448,000 after buying an additional 7,257 shares during the period. Finally, InTrack Investment Management Inc boosted its stake in shares of Mitsubishi UFJ Financial Group by 34.3% in the second quarter. InTrack Investment Management Inc now owns 55,301 shares of the company's stock worth $1,100,000 after buying an additional 14,132 shares during the last quarter. 13.59% of the stock is currently 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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