Mitsubishi UFJ Financial Group (NYSE:MUFG) Hits New 52-Week High – Time to Buy?

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)’s stock 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 trading hands. The stock had previously closed at $22.83.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MUFG. Weiss Ratings downgraded 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 started coverage on Mitsubishi UFJ Financial Group in a research note on Thursday, June 25th. They set a “buy” rating for the company. Finally, Erste Group Bank initiated coverage on Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a “buy” rating on the stock. 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’s stock. According to data from MarketBeat.com, Mitsubishi UFJ Financial Group presently has a consensus rating of “Moderate Buy”.

Mitsubishi UFJ Financial Group Price Performance

The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $286.49 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.05 and a beta of 0.39. The business has a fifty day moving average of $22.08 and a 200-day moving average of $19.70.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last announced its earnings results on Tuesday, August 4th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $15.11 billion for the quarter, compared to the consensus estimate of $10.06 billion. On average, sell-side analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Mitsubishi UFJ Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of MUFG. Elevation Wealth Partners LLC bought a new position in Mitsubishi UFJ Financial Group in the 2nd quarter valued at about $25,000. Whipplewood Advisors LLC bought a new stake in shares of Mitsubishi UFJ Financial Group during the 1st quarter worth about $29,000. Signature Equity Partners LLC lifted its stake in shares of 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 worth $29,000 after acquiring an additional 716 shares during the period. JPL Wealth Management LLC acquired a new stake in shares of Mitsubishi UFJ Financial Group in the 3rd quarter worth approximately $34,000. Finally, Root Financial Partners LLC boosted its holdings in shares of Mitsubishi UFJ Financial Group by 96.2% in the fourth quarter. Root Financial Partners LLC now owns 2,562 shares of the company’s stock valued at $41,000 after acquiring an additional 1,256 shares in the last quarter. 13.59% of the stock is currently owned by institutional investors.

Mitsubishi UFJ Financial Group Company Profile

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.