Mitsubishi UFJ Financial Group Inc (NYSE:MTU) Cut to “Hold” at Zacks Investment Research

Mitsubishi UFJ Financial Group Inc (NYSE:MTU) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, November 1st.

According to Zacks, “Shares of Mitsubishi UFJ have 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.”

A number of other equities analysts have also recently issued reports on MTU. ValuEngine cut shares of Mitsubishi UFJ Financial Group from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut shares of Mitsubishi UFJ Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.00.

Mitsubishi UFJ Financial Group (NYSE:MTU) traded down $0.02 during trading hours on Wednesday, reaching $6.58. The company had a trading volume of 1,284,014 shares, compared to its average volume of 1,687,668. The firm has a market capitalization of $88,633.30, a P/E ratio of 9.04 and a beta of 1.64. Mitsubishi UFJ Financial Group has a fifty-two week low of $5.83 and a fifty-two week high of $7.01. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new stake in shares of Mitsubishi UFJ Financial Group during the second quarter valued at approximately $109,000. Paloma Partners Management Co bought a new stake in shares of Mitsubishi UFJ Financial Group during the first quarter valued at approximately $103,000. BlueCrest Capital Management Ltd bought a new stake in shares of Mitsubishi UFJ Financial Group during the first quarter valued at approximately $110,000. Assetmark Inc. raised its holdings in shares of Mitsubishi UFJ Financial Group by 108.4% during the third quarter. Assetmark Inc. now owns 17,553 shares of the bank’s stock valued at $113,000 after buying an additional 9,132 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in shares of Mitsubishi UFJ Financial Group during the third quarter valued at approximately $114,000. 1.09% of the stock is currently owned by institutional investors.

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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