Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 52-Week High – What’s Next?

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $23.37 and last traded at $23.4030, with a volume of 293604 shares traded. The stock had previously closed at $22.83.

Wall Street Analyst Weigh In

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

Mitsubishi UFJ Financial Group Price Performance

The company has a fifty day moving average of $21.92 and a 200-day moving average of $19.64. The stock has a market cap of $277.41 billion, a PE 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.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last posted 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 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 analyst estimates of $10.06 billion. Sell-side analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 1.57 EPS for the current fiscal year.

Institutional Trading of Mitsubishi UFJ Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its position in shares of Mitsubishi UFJ Financial Group by 2.0% during the fourth quarter. Fisher Asset Management LLC now owns 93,276,119 shares of the company’s stock worth $1,479,359,000 after purchasing an additional 1,789,620 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Mitsubishi UFJ Financial Group by 0.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 14,011,482 shares of the company’s stock worth $222,222,000 after buying an additional 104,327 shares during the period. Northern Trust Corp lifted its position in Mitsubishi UFJ Financial Group by 1.9% during the 3rd quarter. Northern Trust Corp now owns 11,397,833 shares of the company’s stock worth $181,681,000 after acquiring an additional 211,265 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Mitsubishi UFJ Financial Group by 20.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,730,203 shares of the company’s stock worth $106,741,000 after purchasing an additional 1,121,241 shares during the period. Finally, Royal Bank of Canada raised its holdings in Mitsubishi UFJ Financial Group by 5.7% during the first quarter. Royal Bank of Canada now owns 6,315,948 shares of the company’s stock worth $107,182,000 after purchasing an additional 338,881 shares in the last quarter. Institutional investors and hedge funds own 13.59% of the company’s stock.

About Mitsubishi UFJ Financial Group

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.