Mitsubishi UFJ Financial Group (NYSE:MUFG) Shares Gap Up - What's Next?

Key Points

• MUFG shares opened higher, jumping from a prior close of $22.57 to $23.41 and recently trading near $23.39. The stock’s 50-day and 200-day moving averages were $22.76 and $20.22, respectively.
• Analyst sentiment remains positive overall, with one Strong Buy, two Buy, and two Hold ratings producing a consensus “Moderate Buy” recommendation.
• MUFG exceeded quarterly expectations, reporting $0.45 in earnings per share versus the $0.35 consensus estimate and $15.11 billion in revenue versus $10.06 billion expected. Hedge funds and other institutional investors own 13.59% of the stock.

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG - Get Free Report)'s share price gapped up before the market opened on Friday. The stock had previously closed at $22.57, but opened at $23.41. Mitsubishi UFJ Financial Group shares last traded at $23.3940, with a volume of 548,137 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Erste Group Bank assumed coverage on Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a "buy" rating for the company. Weiss Ratings lowered Mitsubishi UFJ Financial Group from a "buy (b)" rating to a "hold (c)" rating in a research report on Tuesday, July 14th. Finally, Mitsubishi UFJ Financial Group started coverage on Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They issued a "buy" rating on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Mitsubishi UFJ Financial Group has a consensus rating of "Moderate Buy".

Mitsubishi UFJ Financial Group Stock Performance

The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.85 and a current ratio of 0.85. The business's 50-day moving average is $22.76 and its 200-day moving average is $20.22. The company has a market capitalization of $278.00 billion, a PE ratio of 15.32, a PEG ratio of 1.03 and a beta of 0.39.

Mitsubishi UFJ Financial Group (NYSE:MUFG - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.10. Mitsubishi UFJ Financial Group had a net margin of 17.63% and a return on equity of 12.30%. The business had revenue of $15.11 billion for the quarter, compared to analysts' expectations of $10.06 billion. On average, research analysts anticipate that Mitsubishi UFJ Financial Group, Inc. will post 1.58 earnings per share for the current year.

Institutional Trading of Mitsubishi UFJ Financial Group

Several institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of Mitsubishi UFJ Financial Group by 7.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 8,017 shares of the company's stock valued at $159,000 after purchasing an additional 574 shares during the last quarter. Eagle Bay Advisors LLC lifted its position in Mitsubishi UFJ Financial Group by 6.4% in the first quarter. Eagle Bay Advisors LLC now owns 11,334 shares of the company's stock worth $192,000 after buying an additional 677 shares during the last quarter. Trust Point Inc. lifted its position in Mitsubishi UFJ Financial Group by 1.5% in the second quarter. Trust Point Inc. now owns 49,093 shares of the company's stock worth $976,000 after buying an additional 712 shares during the last quarter. Signature Equity Partners LLC boosted its stake in Mitsubishi UFJ Financial Group by 73.0% during the first quarter. Signature Equity Partners LLC now owns 1,697 shares of the company's stock worth $29,000 after buying an additional 716 shares during the period. Finally, Bridgewater Advisors Inc. increased its position in Mitsubishi UFJ Financial Group by 2.0% during the first quarter. Bridgewater Advisors Inc. now owns 36,573 shares of the company's stock valued at $681,000 after acquiring an additional 732 shares during the last quarter. 13.59% of the stock is owned by hedge funds and other institutional investors.

Mitsubishi UFJ Financial Group Company Profile

Mitsubishi UFJ Financial Group, Inc NYSE: MUFG is a diversified Japanese financial services group headquartered in Tokyo. The group's principal banking subsidiary, MUFG Bank, provides commercial and retail banking services, including deposits, lending, payments, foreign exchange, and transaction banking. Through its broader operations, MUFG also offers trust banking, securities services, asset management, leasing, credit cards, and consumer finance.

MUFG serves individuals, businesses, financial institutions, and governments in Japan and international markets.

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