104,546 Shares in Mizuho Financial Group, Inc. $MFG Purchased by Provenance Wealth Advisors LLC

Key Points

• Provenance Wealth Advisors initiated a position of 104,546 Mizuho Financial Group shares in the third quarter, worth about $1.155 million.
• Other institutions also reported increasing their holdings, while institutional investors and hedge funds collectively own 3.26% of Mizuho’s stock.
• Mizuho shares opened at $9.81; the stock carries an average analyst rating of Buy, though Weiss Ratings recently downgraded it from “buy (a)” to “buy (b+).”

Provenance Wealth Advisors LLC purchased a new position in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 104,546 shares of the bank's stock, valued at approximately $1,155,000.

Several other institutional investors and hedge funds have also bought and sold shares of MFG. Waverly Advisors LLC grew its position in Mizuho Financial Group by 3.7% during the 2nd quarter. Waverly Advisors LLC now owns 25,492 shares of the bank's stock worth $244,000 after purchasing an additional 909 shares during the period. Fiduciary Financial Group LLC lifted its holdings in shares of Mizuho Financial Group by 8.5% in the 2nd quarter. Fiduciary Financial Group LLC now owns 15,735 shares of the bank's stock valued at $151,000 after buying an additional 1,235 shares during the period. Fifth Third Bancorp boosted its stake in shares of Mizuho Financial Group by 16.2% in the first quarter. Fifth Third Bancorp now owns 9,577 shares of the bank's stock worth $76,000 after buying an additional 1,338 shares during the last quarter. Klingman & Associates LLC boosted its stake in shares of Mizuho Financial Group by 10.5% in the first quarter. Klingman & Associates LLC now owns 14,137 shares of the bank's stock worth $112,000 after buying an additional 1,341 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in shares of Mizuho Financial Group by 8.8% in the third quarter. Frank Rimerman Advisors LLC now owns 16,885 shares of the bank's stock worth $187,000 after buying an additional 1,360 shares during the last quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

Mizuho Financial Group Stock Up 2.9%

MFG stock opened at $9.81 on Thursday. The firm has a market cap of $121.22 billion, a PE ratio of 12.08, a P/E/G ratio of 0.61 and a beta of 0.57. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.93 and a current ratio of 0.93. The firm's fifty day moving average is $10.57 and its 200 day moving average is $9.56. Mizuho Financial Group, Inc. has a one year low of $6.45 and a one year high of $11.49.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Mizuho Financial Group from a "buy (a)" rating to a "buy (b+)" rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Buy rating. According to MarketBeat, Mizuho Financial Group has an average rating of "Buy".

About Mizuho Financial Group

Mizuho Financial Group, Inc is a Japan-based financial services holding company headquartered in Tokyo. Through its subsidiaries, the group provides banking, trust banking, securities, asset management, and other financial services to individuals, businesses, financial institutions, and public-sector organizations.

Its principal businesses include deposits and lending, payments and settlement services, foreign exchange, investment banking, securities brokerage and underwriting, trust and asset management, wealth management, and corporate advisory services.

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