Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 1-Year High – Still a Buy?

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.64 and last traded at $16.4850, with a volume of 164359 shares changing hands. The stock had previously closed at $16.31.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MUFG. Weiss Ratings reissued a “hold (c)” rating on shares of Mitsubishi UFJ Financial Group in a research note on Wednesday, October 8th. Zacks Research downgraded Mitsubishi UFJ Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 1st. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Mitsubishi UFJ Financial Group presently has a consensus rating of “Hold”.

Mitsubishi UFJ Financial Group Stock Up 0.9%

The firm’s 50 day moving average is $15.62 and its 200-day moving average is $15.08. The firm has a market cap of $195.28 billion, a PE ratio of 14.69, a P/E/G ratio of 1.19 and a beta of 0.35. The company has a quick ratio of 0.89, a current ratio of 0.85 and a debt-to-equity ratio of 1.39.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last issued its quarterly earnings results on Friday, November 14th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.10. Mitsubishi UFJ Financial Group had a return on equity of 9.39% and a net margin of 13.98%.The company had revenue of $23.61 billion during the quarter, compared to the consensus estimate of $9.19 billion. As a group, equities research analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

Several large investors have recently added to or reduced their stakes in MUFG. Goldman Sachs Group Inc. grew its position in shares of Mitsubishi UFJ Financial Group by 2.3% during the first quarter. Goldman Sachs Group Inc. now owns 12,652,332 shares of the company’s stock worth $172,451,000 after buying an additional 288,583 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Mitsubishi UFJ Financial Group by 79.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 771,913 shares of the company’s stock valued at $10,591,000 after acquiring an additional 341,671 shares during the last quarter. Walleye Capital LLC boosted its stake in Mitsubishi UFJ Financial Group by 991.8% during the 2nd quarter. Walleye Capital LLC now owns 353,838 shares of the company’s stock valued at $4,855,000 after acquiring an additional 321,430 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Mitsubishi UFJ Financial Group by 67.1% during the 2nd quarter. Corient Private Wealth LLC now owns 198,338 shares of the company’s stock worth $2,721,000 after acquiring an additional 79,613 shares in the last quarter. Finally, Calamos Wealth Management LLC bought a new stake in shares of Mitsubishi UFJ Financial Group in the 3rd quarter worth about $1,367,000. 13.59% of the stock is currently owned by hedge funds and other institutional investors.

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.