Mitsubishi UFJ Financial Group, Inc. ADR [MUFG] is 8.59% higher this YTD. Is it still time to buy?

Mitsubishi UFJ Financial Group, Inc. ADR [NYSE: MUFG] loss -2.50% or -0.24 points to close at $9.35 with a heavy trading volume of 4373886 shares. The company report on January 18, 2024 at 12:15 PM that MUFG Economic Research Office releases 2024 outlook report; considers five key questions for the year ahead.

Mitsubishi UFJ Financial Group (NYSE: MUFG) Economic Research Office issued its 2024 outlook report titled “Five Key Questions for 2024,” in which contributors Henry Cook, Senior Economist, London; Agron Nicaj, U.S. Economist, New York; and Sai Yabuki, Japan Economist, Tokyo, explore major global macro themes for the next 12 months.

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2023 can be summarized as a year of resilience as advanced economies avoided sharp downturns despite rapid monetary policy tightening. The U.S. economy was a particularly bright light with buoyant domestic demand driving an upswing through the year. The Japanese economy also expanded strongly in H1 2023, before losing steam in the second half of the year. It’s been tougher going in Europe with the euro area economy now teetering close to a mild technical recession against a broader backdrop of stagnation.

The daily chart for MUFG points out that the company has recorded 16.88% gains over the past six months.

If we look at the average trading volume of 3.44M shares, MUFG reached to a volume of 4373886 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Mitsubishi UFJ Financial Group, Inc. ADR [MUFG]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MUFG shares is $9.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MUFG stock is a recommendation set at 1.94. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Mitsubishi UFJ Financial Group, Inc. ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 27, 2022.

The Average True Range (ATR) for Mitsubishi UFJ Financial Group, Inc. ADR is set at 0.17, with the Price to Sales ratio for MUFG stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 0.83.

Trading performance analysis for MUFG stock

Mitsubishi UFJ Financial Group, Inc. ADR [MUFG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.65. With this latest performance, MUFG shares gained by 5.65% in over the last four-week period, additionally plugging by 16.88% over the last 6 months – not to mention a rise of 29.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MUFG stock in for the last two-week period is set at 61.10, with the RSI for the last a single of trading hit 59.28, and the three-weeks RSI is set at 60.56 for Mitsubishi UFJ Financial Group, Inc. ADR [MUFG]. The present Moving Average for the last 50 days of trading for this stock 8.78, while it was recorded at 9.44 for the last single week of trading, and 7.94 for the last 200 days.

Mitsubishi UFJ Financial Group, Inc. ADR [MUFG]: A deeper dive into fundamental analysis

Mitsubishi UFJ Financial Group, Inc. ADR’s liquidity data is similarly interesting compelling, with a Current Ratio set at 2.33.

Mitsubishi UFJ Financial Group, Inc. ADR [MUFG]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Mitsubishi UFJ Financial Group, Inc. ADR posted 0.48/share EPS, while the average EPS was predicted by analysts to be reported at 0.55/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -12.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MUFG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Mitsubishi UFJ Financial Group, Inc. ADR go to 7.50%.

An analysis of Institutional ownership at Mitsubishi UFJ Financial Group, Inc. ADR [MUFG]

The top three institutional holders of MUFG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MUFG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MUFG stock with ownership which is approximately 5.8325%.