Mitsubishi UFJ Financial Group (NYSE:MUFG) Hits New 1-Year High – What’s Next?

Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $20.23 and last traded at $20.0650, with a volume of 1127284 shares. The stock had previously closed at $20.05.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Mitsubishi UFJ Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Mitsubishi UFJ Financial Group Stock Down 0.2%

The firm has a market cap of $237.41 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.79 and a beta of 0.40. The firm has a fifty day moving average of $18.20 and a 200-day moving average of $17.51.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last released its earnings results on Saturday, May 16th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.13. Mitsubishi UFJ Financial Group had a return on equity of 11.07% and a net margin of 16.65%.The business had revenue of $15.36 billion for the quarter, compared to analyst estimates of $9.34 billion. On average, equities analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 1.41 EPS for the current year.

Institutional Trading of Mitsubishi UFJ Financial Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC lifted its stake in Mitsubishi UFJ Financial Group by 34.1% in the 1st quarter. Parallel Advisors LLC now owns 63,185 shares of the company’s stock valued at $1,072,000 after purchasing an additional 16,061 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Mitsubishi UFJ Financial Group by 19.2% in the 1st quarter. NewEdge Advisors LLC now owns 63,437 shares of the company’s stock valued at $1,077,000 after purchasing an additional 10,199 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Mitsubishi UFJ Financial Group by 37.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 47,567 shares of the company’s stock valued at $807,000 after purchasing an additional 12,888 shares during the last quarter. Royal Bank of Canada lifted its stake in Mitsubishi UFJ Financial Group by 5.7% in the 1st quarter. Royal Bank of Canada now owns 6,315,948 shares of the company’s stock valued at $107,182,000 after purchasing an additional 338,881 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Mitsubishi UFJ Financial Group by 21.4% in the 1st quarter. Quantinno Capital Management LP now owns 2,399,601 shares of the company’s stock valued at $40,721,000 after purchasing an additional 423,058 shares during the last quarter. Institutional investors own 13.59% of the company’s stock.

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.