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

Mitsubishi UFJ Financial Group (NYSE:MUFG) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday, Zacks reports.

Separately, Weiss Ratings upgraded Mitsubishi UFJ Financial Group from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, September 25th. One equities research 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 data from MarketBeat.com, Mitsubishi UFJ Financial Group presently has an average rating of “Buy”.

Mitsubishi UFJ Financial Group Price Performance

Shares of NYSE:MUFG opened at $22.00 on Tuesday. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.85 and a quick ratio of 0.85. Mitsubishi UFJ Financial Group has a 1-year low of $14.88 and a 1-year high of $24.26. The company has a market capitalization of $261.15 billion, a P/E ratio of 14.38, a P/E/G ratio of 0.79 and a beta of 0.51. The firm’s 50 day simple moving average is $22.61 and its two-hundred day simple moving average is $20.20.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.45 earnings per share (EPS) 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 firm had revenue of $15.11 billion during the quarter, compared to analysts’ expectations of $10.06 billion. Research analysts expect that Mitsubishi UFJ Financial Group will post 1.59 EPS for the current fiscal year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of MUFG. Royal Bank of Canada increased its holdings in shares of Mitsubishi UFJ Financial Group by 5.7% in 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 during the last quarter. Quantinno Capital Management LP boosted its stake in Mitsubishi UFJ Financial Group by 21.4% during the first quarter. Quantinno Capital Management LP now owns 2,399,601 shares of the company’s stock valued at $40,721,000 after buying an additional 423,058 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in Mitsubishi UFJ Financial Group by 18.3% during the third quarter. TD Waterhouse Canada Inc. now owns 1,097,840 shares of the company’s stock valued at $24,827,000 after buying an additional 169,723 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Mitsubishi UFJ Financial Group by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,363,726 shares of the company’s stock valued at $23,142,000 after buying an additional 80,484 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Mitsubishi UFJ Financial Group by 28.6% during the 2nd quarter. QRG Capital Management Inc. now owns 817,288 shares of the company’s stock valued at $16,256,000 after buying an additional 181,696 shares in the last quarter. Institutional investors own 13.59% of the company’s stock.

Mitsubishi UFJ Financial Group Company Profile

Mitsubishi UFJ Financial Group, Inc (NYSE: MUFG) is a Japanese financial services holding company headquartered in Tokyo. Established in 2005 through the merger of Mitsubishi Tokyo Financial Group and UFJ Holdings, the group is one of Japan’s largest banking organizations and serves corporate, institutional, government and individual customers.

Through its principal subsidiaries, including MUFG Bank, Mitsubishi UFJ Trust and Banking Corporation and Mitsubishi UFJ Securities Holdings, the company provides commercial and investment banking, trust banking, securities underwriting and brokerage, asset management, credit cards, consumer finance and leasing services.