Zacks Investment Research cut shares of Mitsubishi UFJ Financial Group (NYSE:MUFG) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Shares of Mitsubishi UFJ have underperformed the industry on the NYSE, year to date. The company’s profits for the first six months of fiscal 2018 (ended Sep 30) improved year over year. Low credit costs, higher net fees and commissions, and strong capital levels were positives. However, elevated general & administrative expenses were a major drag. Strong capital ratios and organic growth are likely to drive the company’s bottom-line growth. Also, the company’s prospects look encouraging, as it focuses on several strategies under its medium-term business plan and global expansion. Nonetheless, the company's revenues continue to remain under pressure due to the negative interest rates in Japan. Also, rising costs due to strict regulations in overseas business remains a key concern.”

Other equities research analysts also recently issued research reports about the stock. Citigroup started coverage on shares of Mitsubishi UFJ Financial Group in a research report on Tuesday, November 13th. They set a buy rating for the company. Daiwa Capital Markets raised shares of Mitsubishi UFJ Financial Group from a neutral rating to an outperform rating in a research report on Monday, September 3rd. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $7.50.

Shares of MUFG opened at $5.55 on Tuesday. The company has a market cap of $73.89 billion, a P/E ratio of 7.82, a PEG ratio of 1.92 and a beta of 1.56. The company has a quick ratio of 0.86, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. Mitsubishi UFJ Financial Group has a twelve month low of $5.49 and a twelve month high of $8.11.

Hedge funds have recently modified their holdings of the stock. LPL Financial LLC purchased a new stake in Mitsubishi UFJ Financial Group in the first quarter worth approximately $103,000. Reliance Trust Co. of Delaware purchased a new stake in Mitsubishi UFJ Financial Group in the third quarter worth approximately $103,000. Toronto Dominion Bank purchased a new stake in Mitsubishi UFJ Financial Group in the third quarter worth approximately $104,000. Envestnet Asset Management Inc. purchased a new stake in Mitsubishi UFJ Financial Group in the third quarter worth approximately $108,000. Finally, Bailard Inc. purchased a new stake in Mitsubishi UFJ Financial Group in the third quarter worth approximately $118,000. Institutional investors own 1.08% of the company’s stock.

Mitsubishi UFJ Financial Group Company Profile

Mitsubishi UFJ Financial Group, Inc, a bank holding company, provides financial services in Japan and internationally. Its Retail Banking Business Group segment offers a range of products and services, such as bank deposits, loans, asset management and administration services, investment products, and settlement services.

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