Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 12-Month High – Time to Buy?

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.17 and last traded at $21.06, with a volume of 523495 shares. The stock had previously closed at $20.61.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MUFG shares. Weiss Ratings upgraded shares of Mitsubishi UFJ Financial Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 30th. Erste Group Bank initiated coverage on shares of Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They set a “buy” rating for the company. Finally, Mitsubishi UFJ Financial Group started coverage on shares of Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Mitsubishi UFJ Financial Group Stock Up 2.4%

The stock has a fifty day moving average of $19.30 and a 200-day moving average of $18.19. The firm has a market capitalization of $250.35 billion, a P/E ratio of 14.98, a PEG ratio of 0.83 and a beta of 0.39.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

A number of large investors have recently modified their holdings of MUFG. Laurel Wealth Advisors LLC acquired a new stake in shares of Mitsubishi UFJ Financial Group in the fourth quarter valued at approximately $26,000. Whipplewood Advisors LLC acquired a new position in Mitsubishi UFJ Financial Group during the 1st quarter worth $29,000. Signature Equity Partners LLC boosted its position in Mitsubishi UFJ Financial Group by 73.0% in the 1st quarter. Signature Equity Partners LLC now owns 1,697 shares of the company’s stock valued at $29,000 after buying an additional 716 shares during the last quarter. JPL Wealth Management LLC bought a new position in Mitsubishi UFJ Financial Group in the 3rd quarter valued at $34,000. Finally, Sound Income Strategies LLC increased its stake in shares of Mitsubishi UFJ Financial Group by 716.4% in the 4th quarter. Sound Income Strategies LLC now owns 2,482 shares of the company’s stock valued at $39,000 after buying an additional 2,178 shares during the period. 13.59% of the stock is currently owned by institutional investors and hedge funds.

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.