Mitsubishi UFJ Financial Group (NYSE:MUFG) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Mitsubishi UFJ Financial Group (NYSE:MUFG) released its earnings results on Monday. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.34 by $0.11, Zacks reports. Mitsubishi UFJ Financial Group had a return on equity of 11.44% and a net margin of 16.65%.The firm had revenue of $15.11 billion during the quarter, compared to analyst estimates of $10.06 billion.

Mitsubishi UFJ Financial Group Trading Down 2.6%

Shares of NYSE MUFG traded down $0.58 during midday trading on Tuesday, hitting $21.91. The stock had a trading volume of 1,883,945 shares, compared to its average volume of 3,490,395. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.75. Mitsubishi UFJ Financial Group has a 1-year low of $13.86 and a 1-year high of $23.25. The company has a market capitalization of $259.96 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 1.08 and a beta of 0.39. The company has a fifty day moving average price of $20.85 and a 200 day moving average price of $19.06.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Northern Trust Corp increased its position in shares of Mitsubishi UFJ Financial Group by 1.9% in the third quarter. Northern Trust Corp now owns 11,397,833 shares of the company’s stock worth $181,681,000 after acquiring an additional 211,265 shares in the last quarter. FIL Ltd increased its holdings in Mitsubishi UFJ Financial Group by 11.6% in the 4th quarter. FIL Ltd now owns 5,026,845 shares of the company’s stock valued at $79,726,000 after purchasing an additional 521,832 shares in the last quarter. Toronto Dominion Bank raised its position in Mitsubishi UFJ Financial Group by 251.7% in the fourth quarter. Toronto Dominion Bank now owns 4,816,589 shares of the company’s stock valued at $76,391,000 after purchasing an additional 3,447,183 shares during the period. Raymond James Financial Inc. lifted its stake in shares of Mitsubishi UFJ Financial Group by 3.3% during the second quarter. Raymond James Financial Inc. now owns 2,870,737 shares of the company’s stock worth $39,386,000 after purchasing an additional 92,220 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Mitsubishi UFJ Financial Group by 15.1% during the fourth quarter. JPMorgan Chase & Co. now owns 2,489,093 shares of the company’s stock worth $39,477,000 after purchasing an additional 326,683 shares in the last quarter. Hedge funds and other institutional investors own 13.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MUFG shares. Erste Group Bank started coverage on Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They issued a “buy” rating for the company. Weiss Ratings lowered shares of Mitsubishi UFJ Financial Group from a “buy (b)” rating to a “hold (c)” rating in a report on Tuesday, July 14th. Finally, Mitsubishi UFJ Financial Group began coverage on shares of Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Mitsubishi UFJ Financial Group has an average rating of “Moderate Buy”.

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.