Mitsubishi UFJ Financial Group Inc (MTU) Stock Rating Upgraded by Zacks Investment Research
Mitsubishi UFJ Financial Group Inc (NYSE:MTU) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $7.00 price target on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 14.38% from the company’s previous close.
According to Zacks, “Mitsubishi UFJ’s shares underperformed the industry on NYSE over the last six months. Though the negative interest rates in Japan and global growth concerns, along with strict regulations, remain headwinds, strong capital ratios and organic growth will likely support the company’s bottom-line growth. Also, the company’s prospects look encouraging, as it remains focused on several strategies under its medium-term business plan (2016–2018) and global expansion.”
MTU has been the subject of several other reports. BidaskClub downgraded Mitsubishi UFJ Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. ValuEngine downgraded Mitsubishi UFJ Financial Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $7.00.
Mitsubishi UFJ Financial Group (NYSE MTU) traded down 1.92% during trading on Thursday, reaching $6.12. 995,182 shares of the company’s stock were exchanged. Mitsubishi UFJ Financial Group has a 52 week low of $4.83 and a 52 week high of $7.01. The stock has a market capitalization of $81.32 billion, a PE ratio of 30.00 and a beta of 1.62. The stock has a 50-day moving average of $6.20 and a 200-day moving average of $6.38.
Mitsubishi UFJ Financial Group (NYSE:MTU) last posted its quarterly earnings data on Tuesday, August 1st. The bank reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The business had revenue of $13.57 billion during the quarter. Mitsubishi UFJ Financial Group had a return on equity of 6.59% and a net margin of 16.99%. On average, equities research analysts anticipate that Mitsubishi UFJ Financial Group will post $0.55 EPS for the current year.
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Several institutional investors have recently added to or reduced their stakes in MTU. Miracle Mile Advisors LLC purchased a new stake in shares of Mitsubishi UFJ Financial Group during the first quarter worth approximately $100,000. Proficio Capital Partners LLC raised its stake in shares of Mitsubishi UFJ Financial Group by 50.4% during the first quarter. Proficio Capital Partners LLC now owns 16,204 shares of the bank’s stock worth $102,000 after purchasing an additional 5,429 shares during the last quarter. Paloma Partners Management Co purchased a new stake in shares of Mitsubishi UFJ Financial Group during the first quarter worth approximately $103,000. Tiedemann Wealth Management LLC raised its stake in shares of Mitsubishi UFJ Financial Group by 3.9% during the first quarter. Tiedemann Wealth Management LLC now owns 17,104 shares of the bank’s stock worth $108,000 after purchasing an additional 644 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Mitsubishi UFJ Financial Group during the second quarter worth approximately $109,000. Institutional investors and hedge funds own 1.08% of the company’s stock.
Mitsubishi UFJ Financial Group Company Profile
Mitsubishi UFJ Financial Group, Inc (MUFJ) is a bank holding company. The Company’s segments include Integrated Retail Banking Business Group, Integrated Corporate Banking Business Group, Integrated Trust Assets Business Group, Integrated Global Business Group and Krungsri. The Company’s services include commercial banking, trust banking, securities, credit cards, consumer finance, asset management, leasing and various fields of financial services.
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