3 Stocks Dragging The Banking Industry Downward

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 44 points (-0.3%) at 15,417 as of Friday, July 12, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,253 issues advancing vs. 1,644 declining with 132 unchanged.

The Banking industry currently sits up 0.1% versus the S&P 500, which is down 0.1%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. 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 $0.07 (-1.1%) to $6.54 on light volume. Thus far, 660,289 shares of Mitsubishi UFJ Financial Group exchanged hands as compared to its average daily volume of 4.0 million shares. The stock has ranged in price between $6.54-$6.61 after having opened the day at $6.59 as compared to the previous trading day's close of $6.61.

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 $91.1 billion and is part of the financial sector. Shares are up 18.8% year to date as of the close of trading on Thursday. 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.

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