Mitsubishi UFJ Financial Group (NYSE:MUFG) Reaches New 52-Week High – Time to Buy?

Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG) hit a new 52-week high on Tuesday . The company traded as high as $16.39 and last traded at $16.3150, with a volume of 410130 shares. The stock had previously closed at $15.92.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MUFG. Wall Street Zen upgraded shares of Mitsubishi UFJ Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research raised shares of Mitsubishi UFJ Financial Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Mitsubishi UFJ Financial Group in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Mitsubishi UFJ Financial Group has an average rating of “Buy”.

Mitsubishi UFJ Financial Group Trading Up 2.0%

The firm has a market cap of $196.04 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 1.09 and a beta of 0.37. The company has a 50-day simple moving average of $15.34 and a 200 day simple moving average of $14.69. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.86.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last announced its quarterly earnings results on Friday, November 14th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. Mitsubishi UFJ Financial Group had a net margin of 13.95% and a return on equity of 9.35%. The firm had revenue of $23.61 billion for the quarter, compared to the consensus estimate of $9.19 billion. As a group, sell-side analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current fiscal year.

Institutional Trading of Mitsubishi UFJ Financial Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Bancorp USA Inc. acquired a new stake in Mitsubishi UFJ Financial Group in the 3rd quarter valued at $472,000. Coldstream Capital Management Inc. increased its stake in Mitsubishi UFJ Financial Group by 1.9% during the 3rd quarter. Coldstream Capital Management Inc. now owns 50,361 shares of the company’s stock worth $803,000 after buying an additional 917 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Mitsubishi UFJ Financial Group during the 3rd quarter worth approximately $162,000. Hancock Whitney Corp lifted its position in shares of Mitsubishi UFJ Financial Group by 1.9% in the third quarter. Hancock Whitney Corp now owns 86,210 shares of the company’s stock valued at $1,374,000 after acquiring an additional 1,620 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. boosted its stake in shares of Mitsubishi UFJ Financial Group by 113.8% in the third quarter. Pin Oak Investment Advisors Inc. now owns 3,894 shares of the company’s stock worth $62,000 after acquiring an additional 2,073 shares during the last quarter. 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 operates as the bank holding company, that engages in a range of financial businesses in Japan, the United States, Europe, Asia/Oceania, and internationally. It operates through seven segments: Digital Service, Retail & Commercial Banking, Japanese Corporate & Investment Banking, Global Commercial Banking, Asset Management & Investor Services, Global Corporate & Investment Banking, and Global Markets.