Mitsubishi UFJ Financial Group (NYSE:MUFG) Shares Gap Up – Time to Buy?

Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) gapped up before the market opened on Friday. The stock had previously closed at $22.57, but opened at $23.41. Mitsubishi UFJ Financial Group shares last traded at $23.3940, with a volume of 548,137 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MUFG shares. Erste Group Bank initiated coverage on shares of Mitsubishi UFJ Financial Group in a research report on Thursday, June 25th. They issued a “buy” rating on the stock. Weiss Ratings cut Mitsubishi UFJ Financial Group from a “buy (b)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Finally, Mitsubishi UFJ Financial Group assumed coverage on Mitsubishi UFJ Financial Group in a report on Thursday, June 25th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Mitsubishi UFJ Financial Group Stock Performance

The firm has a market capitalization of $278.00 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.03 and a beta of 0.39. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a 50-day moving average price of $22.76 and a two-hundred day moving average price of $20.22.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.10. The firm had revenue of $15.11 billion for the quarter, compared to analysts’ expectations of $10.06 billion. Mitsubishi UFJ Financial Group had a net margin of 17.63% and a return on equity of 12.30%. On average, analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 1.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

A number of institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC purchased a new stake in shares of Mitsubishi UFJ Financial Group in the second quarter valued at approximately $25,000. Signature Equity Partners LLC raised its position in Mitsubishi UFJ Financial Group by 73.0% during the 1st quarter. Signature Equity Partners LLC now owns 1,697 shares of the company’s stock valued at $29,000 after purchasing an additional 716 shares in the last quarter. Whipplewood Advisors LLC bought a new stake in Mitsubishi UFJ Financial Group during the 1st quarter valued at $29,000. Root Financial Partners LLC lifted its holdings in shares of Mitsubishi UFJ Financial Group by 96.2% in the 4th quarter. Root Financial Partners LLC now owns 2,562 shares of the company’s stock worth $41,000 after buying an additional 1,256 shares during the period. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of Mitsubishi UFJ Financial Group during the 2nd quarter worth $79,000. 13.59% of the stock is owned by hedge funds and other institutional investors.

Mitsubishi UFJ Financial Group Company Profile

Mitsubishi UFJ Financial Group, Inc (NYSE: MUFG) is a diversified Japanese financial services group headquartered in Tokyo. The group’s principal banking subsidiary, MUFG Bank, provides commercial and retail banking services, including deposits, lending, payments, foreign exchange, and transaction banking. Through its broader operations, MUFG also offers trust banking, securities services, asset management, leasing, credit cards, and consumer finance.

MUFG serves individuals, businesses, financial institutions, and governments in Japan and international markets.