Mitsubishi UFJ Financial Group (NYSE:MUFG) Shares Gap Up – Here’s Why

Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $15.34, but opened at $16.11. Mitsubishi UFJ Financial Group shares last traded at $15.99, with a volume of 514,729 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Mitsubishi UFJ Financial Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th.

Mitsubishi UFJ Financial Group Stock Performance

The stock has a market capitalization of $192.00 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.56 and a beta of 0.42. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.86. The stock’s 50-day simple moving average is $13.92 and its 200 day simple moving average is $13.25.

Mitsubishi UFJ Financial Group (NYSE:MUFG) last released its quarterly earnings results on Monday, August 4th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.03. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $9.86 billion. Mitsubishi UFJ Financial Group had a net margin of 13.95% and a return on equity of 9.35%. Analysts expect that Mitsubishi UFJ Financial Group, Inc. will post 0.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its position in shares of Mitsubishi UFJ Financial Group by 17.4% during the second quarter. Fisher Asset Management LLC now owns 89,513,174 shares of the company’s stock worth $1,228,121,000 after purchasing an additional 13,275,383 shares in the last quarter. Northern Trust Corp lifted its position in shares of Mitsubishi UFJ Financial Group by 46.6% during the fourth quarter. Northern Trust Corp now owns 10,522,079 shares of the company’s stock worth $123,319,000 after purchasing an additional 3,342,330 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Mitsubishi UFJ Financial Group by 40.4% during the fourth quarter. Royal Bank of Canada now owns 6,021,271 shares of the company’s stock worth $70,570,000 after purchasing an additional 1,731,873 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Mitsubishi UFJ Financial Group by 175.6% during the first quarter. Artemis Investment Management LLP now owns 2,558,102 shares of the company’s stock worth $34,867,000 after purchasing an additional 1,629,765 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Mitsubishi UFJ Financial Group during the first quarter worth approximately $12,534,000. 13.59% of the stock is currently owned by institutional investors and hedge funds.

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.