Mitsubishi UFJ Financial Group Inc (MTU) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research downgraded shares of Mitsubishi UFJ Financial Group Inc (NYSE:MTU) from a buy rating to a hold rating in a report issued on Wednesday morning.

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.”

Other research analysts have also issued reports about the company. ValuEngine lowered Mitsubishi UFJ Financial Group from a strong-buy rating to a buy rating in a report on Friday, September 1st. BidaskClub lowered Mitsubishi UFJ Financial Group from a hold rating to a sell rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $7.00.

Mitsubishi UFJ Financial Group (NYSE:MTU) last issued its quarterly earnings data on Tuesday, August 1st. The bank reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. Mitsubishi UFJ Financial Group had a return on equity of 6.59% and a net margin of 16.99%. The firm had revenue of $13.57 billion for the quarter.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Heathbridge Capital Management Ltd. grew its holdings in shares of Mitsubishi UFJ Financial Group by 0.3% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 4,453,250 shares of the bank’s stock worth $28,679,000 after purchasing an additional 11,900 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Mitsubishi UFJ Financial Group during the 3rd quarter worth $8,236,000. Well Done LLC acquired a new stake in shares of Mitsubishi UFJ Financial Group during the 3rd quarter worth $246,000. BB&T Corp grew its holdings in shares of Mitsubishi UFJ Financial Group by 9.7% during the 3rd quarter. BB&T Corp now owns 204,112 shares of the bank’s stock worth $1,314,000 after purchasing an additional 18,049 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Mitsubishi UFJ Financial Group by 0.3% during the 3rd quarter. Fisher Asset Management LLC now owns 7,547,634 shares of the bank’s stock worth $48,607,000 after purchasing an additional 25,529 shares in the last quarter. 1.08% 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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