5 Stocks Dragging The Banking Industry Downward
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.Two out of the three major indices are trading lower today with the Dow Jones Industrial Average (^DJI) trading up 26 points (0.2%) at 15,572 as of Tuesday, July 23, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,636 issues advancing vs. 1,285 declining with 117 unchanged.The Banking industry currently sits up 0.3% versus the S&P 500, which is down 0.1%. A company within the industry that fell today was Lloyds Banking Group (LYG), up 1.6%.TheStreet would like to highlight 5 stocks pushing the industry lower today:5. Mitsubishi UFJ Financial Group (MTU) is one of the companies pushing the Banking industry lower today. As of noon trading, Mitsubishi UFJ Financial Group is down $0.04 (-0.6%) to $6.74 on light volume. Thus far, 593,063 shares of Mitsubishi UFJ Financial Group exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $6.72-$6.78 after having opened the day at $6.77 as compared to the previous trading day's close of $6.78. Mitsubishi UFJ Financial Group, Inc., through its subsidiaries, provides financial services to individual and corporate customers in Japan and internationally. Mitsubishi UFJ Financial Group has a market cap of $96.4 billion and is part of the financial sector. Shares are up 25.1% year to date as of the close of trading on Monday. Currently there is 1 analyst that rates Mitsubishi UFJ Financial Group a buy, no analysts rate it a sell, and 1 rates it a hold.TheStreet Ratings rates Mitsubishi UFJ Financial Group as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and feeble growth in the company's earnings per share. Get the full Mitsubishi UFJ Financial Group Ratings Report now.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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