Mitsubishi UFJ Financial Group (NYSE:MUFG) Shares Gap Down to $7.16

Shares of Mitsubishi UFJ Financial Group, Inc. (NYSE:MUFG – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $7.16, but opened at $6.88. Mitsubishi UFJ Financial Group shares last traded at $6.65, with a volume of 1,719,886 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group began coverage on Mitsubishi UFJ Financial Group in a research note on Thursday, December 15th. They set a “conviction-buy” rating on the stock.

Mitsubishi UFJ Financial Group Stock Down 6.0 %

The stock has a 50 day moving average price of $7.22 and a 200 day moving average price of $5.86. The stock has a market capitalization of $82.92 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.06 and a beta of 0.69. The company has a quick ratio of 0.92, a current ratio of 0.90 and a debt-to-equity ratio of 2.73.

Mitsubishi UFJ Financial Group (NYSE:MUFG – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.08. Mitsubishi UFJ Financial Group had a return on equity of 3.25% and a net margin of 4.71%. The firm had revenue of $17.58 billion for the quarter. As a group, analysts forecast that Mitsubishi UFJ Financial Group, Inc. will post 0.68 EPS for the current year.

Hedge Funds Weigh In On Mitsubishi UFJ Financial Group

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in shares of Mitsubishi UFJ Financial Group during the fourth quarter worth about $44,000. Eagle Bay Advisors LLC bought a new stake in Mitsubishi UFJ Financial Group in the second quarter worth approximately $36,000. Penserra Capital Management LLC bought a new stake in Mitsubishi UFJ Financial Group in the third quarter worth approximately $34,000. Flputnam Investment Management Co. bought a new stake in Mitsubishi UFJ Financial Group in the fourth quarter worth approximately $67,000. Finally, Wedmont Private Capital bought a new stake in Mitsubishi UFJ Financial Group in the third quarter worth approximately $46,000. 1.62% of the stock is currently owned by institutional investors.

Mitsubishi UFJ Financial Group Company Profile

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Mitsubishi UFJ Financial Group, Inc operates as a holding company, which provides financial services through its subsidiaries. It operates through the following segments: Integrated Retail Banking Business Group, Integrated Corporate Banking Business Group, Integrated Trust Assets Business Group, Integrated Global Business Group, Global Markets and Others.