Mitsubishi UFJ Financial Group (NYSE:MUFG) Rating Lowered to Hold at Zacks Research

Mitsubishi UFJ Financial Group (NYSE:MUFG) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently commented on MUFG. Wall Street Zen raised Mitsubishi UFJ Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings restated a “hold (c)” rating on shares of Mitsubishi UFJ Financial Group in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Mitsubishi UFJ Financial Group Price Performance

Shares of MUFG opened at $15.98 on Monday. Mitsubishi UFJ Financial Group has a twelve month low of $10.46 and a twelve month high of $16.39. The company has a market capitalization of $192.78 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.09 and a beta of 0.37. The firm has a 50 day moving average of $15.34 and a 200 day moving average of $14.71. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.86.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last released its quarterly earnings data on Friday, November 14th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.10. Mitsubishi UFJ Financial Group had a return on equity of 9.35% and a net margin of 13.95%.The business had revenue of $23.61 billion for the quarter, compared to analysts’ expectations of $9.19 billion. As a group, equities research analysts anticipate that Mitsubishi UFJ Financial Group will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

Several hedge funds have recently modified their holdings of MUFG. Westside Investment Management Inc. lifted its stake in Mitsubishi UFJ Financial Group by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 1,846 shares of the company’s stock worth $29,000 after purchasing an additional 923 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Mitsubishi UFJ Financial Group in the 2nd quarter worth about $31,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Mitsubishi UFJ Financial Group during the 1st quarter valued at about $32,000. JPL Wealth Management LLC purchased a new stake in shares of Mitsubishi UFJ Financial Group during the 3rd quarter valued at about $34,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Mitsubishi UFJ Financial Group in the 3rd quarter valued at about $35,000. 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.