Erste Group Bank Initiates Coverage on Mitsubishi UFJ Financial Group (NYSE:MUFG)

Equities researchers at Erste Group Bank started coverage on shares of Mitsubishi UFJ Financial Group (NYSE:MUFG) in a research note issued to investors on Thursday. The brokerage set a “buy” rating on the stock.

Separately, Weiss Ratings lowered shares of Mitsubishi UFJ Financial Group from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Mitsubishi UFJ Financial Group Trading Down 1.8%

MUFG stock opened at $19.82 on Thursday. The firm has a 50 day moving average of $19.00 and a 200-day moving average of $17.98. Mitsubishi UFJ Financial Group has a 12 month low of $13.19 and a 12 month high of $21.17. The firm has a market capitalization of $235.17 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 0.82 and a beta of 0.40.

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

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

A number of large investors have recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new position in Mitsubishi UFJ Financial Group during the fourth quarter valued at approximately $26,000. Signature Equity Partners LLC lifted its holdings in shares of Mitsubishi UFJ Financial Group by 73.0% in the 1st quarter. Signature Equity Partners LLC now owns 1,697 shares of the company’s stock worth $29,000 after acquiring an additional 716 shares during the last quarter. Whipplewood Advisors LLC purchased a new stake in shares of Mitsubishi UFJ Financial Group in the 1st quarter valued at $29,000. JPL Wealth Management LLC purchased a new stake in shares of Mitsubishi UFJ Financial Group in the 3rd quarter valued at $34,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Mitsubishi UFJ Financial Group by 716.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,482 shares of the company’s stock valued at $39,000 after purchasing an additional 2,178 shares during the last quarter. 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 (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.