Mitsubishi UFJ Financial Group Inc (NYSE:MTU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Shares of Mitsubishi UFJ have underperformed the industry on NYSE over the last six months. Though the negative interest rates in Japan and global growth concerns, along with strict regulations, remain headwinds, strong capital ratios and organic growth will likely support the company’s bottom-line growth. Also, the company’s prospects look encouraging, as it remains focused on several strategies under its medium-term business plan (2016–2018) and global expansion.”

Several other equities research analysts also recently weighed in on MTU. BidaskClub downgraded shares of Mitsubishi UFJ Financial Group from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. ValuEngine upgraded shares of Mitsubishi UFJ Financial Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $7.00.

Shares of Mitsubishi UFJ Financial Group (NYSE MTU) traded up 0.221% during trading on Wednesday, reaching $6.805. 1,044,035 shares of the company were exchanged. Mitsubishi UFJ Financial Group has a 1-year low of $4.96 and a 1-year high of $7.01. The firm has a market capitalization of $90.42 billion, a PE ratio of 35.077 and a beta of 1.63. The company’s 50-day moving average is $6.47 and its 200 day moving average is $6.39.

Mitsubishi UFJ Financial Group (NYSE:MTU) last announced its earnings results on Tuesday, August 1st. The bank reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The company had revenue of $13.57 billion during the quarter. Mitsubishi UFJ Financial Group had a net margin of 16.99% and a return on equity of 6.59%. Equities research analysts expect that Mitsubishi UFJ Financial Group will post $0.55 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC purchased a new position in shares of Mitsubishi UFJ Financial Group in the second quarter worth $109,000. Paloma Partners Management Co purchased a new position in shares of Mitsubishi UFJ Financial Group in the first quarter worth $103,000. BlueCrest Capital Management Ltd purchased a new position in shares of Mitsubishi UFJ Financial Group in the first quarter worth $110,000. Ronald Blue & Co. LLC raised its holdings in shares of Mitsubishi UFJ Financial Group by 19.4% in the second quarter. Ronald Blue & Co. LLC now owns 18,127 shares of the bank’s stock worth $122,000 after buying an additional 2,948 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Mitsubishi UFJ Financial Group by 21.2% in the second quarter. Ballentine Partners LLC now owns 18,627 shares of the bank’s stock worth $119,000 after buying an additional 3,263 shares during the last quarter. 1.08% of the stock is owned by institutional investors and hedge funds.

About Mitsubishi UFJ Financial Group

Mitsubishi UFJ Financial Group, Inc (MUFJ) is a bank holding company. The Company’s segments include Integrated Retail Banking Business Group, Integrated Corporate Banking Business Group, Integrated Trust Assets Business Group, Integrated Global Business Group and Krungsri. The Company’s services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and various fields of financial services.

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