Mizuho Financial Group (NYSE:MFG) Sets New 1-Year High – What’s Next?

Mizuho Financial Group, Inc. (NYSE:MFG)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $10.96 and last traded at $10.9960, with a volume of 1843 shares changing hands. The stock had previously closed at $10.81.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Mizuho Financial Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Mizuho Financial Group presently has a consensus rating of “Buy”.

Mizuho Financial Group Stock Down 1.0%

The company has a market capitalization of $134.43 billion, a price-to-earnings ratio of 13.27, a P/E/G ratio of 0.90 and a beta of 0.45. The stock’s fifty day simple moving average is $10.17 and its two-hundred day simple moving average is $9.20. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.93 and a current ratio of 0.93.

Mizuho Financial Group (NYSE:MFG) last released its quarterly earnings results on Thursday, July 30th. The bank reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. The business had revenue of $8.55 billion during the quarter, compared to analyst estimates of $5.51 billion. Mizuho Financial Group had a return on equity of 12.82% and a net margin of 17.15%. On average, sell-side analysts anticipate that Mizuho Financial Group, Inc. will post 0.72 EPS for the current year.

Institutional Investors Weigh In On Mizuho Financial Group

A number of large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Mizuho Financial Group by 19.3% in the 4th quarter. Brighton Jones LLC now owns 12,343 shares of the bank’s stock valued at $60,000 after buying an additional 1,998 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Mizuho Financial Group by 29.3% during the 1st quarter. AQR Capital Management LLC now owns 392,998 shares of the bank’s stock valued at $2,165,000 after acquiring an additional 89,095 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Mizuho Financial Group by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,508,417 shares of the bank’s stock valued at $79,941,000 after purchasing an additional 57,806 shares during the period. Focus Partners Wealth grew its position in Mizuho Financial Group by 129.0% in the first quarter. Focus Partners Wealth now owns 51,966 shares of the bank’s stock valued at $286,000 after acquiring an additional 29,273 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in shares of Mizuho Financial Group by 89.6% in the 1st quarter. Acadian Asset Management LLC now owns 13,663 shares of the bank’s stock worth $74,000 after purchasing an additional 6,455 shares during the last quarter. Institutional investors own 3.26% of the company’s stock.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a major Japanese banking and financial services holding company headquartered in Tokyo. The group operates through a network of subsidiaries that provide a full range of retail, corporate and investment banking services. Its core businesses include deposit-taking and lending, transaction banking, cash management, trade finance and treasury services for both individual and institutional clients.

Beyond traditional commercial banking, Mizuho offers securities and capital markets services, investment banking, underwriting, M&A advisory, and asset management through its securities and trust banking arms.