Bank of America Corp DE Sells 224,167 Shares of Mizuho Financial Group, Inc. $MFG

Key Points

• Bank of America reduced its Mizuho Financial Group position by 1.4%, selling 224,167 shares in the first quarter. It still held 15.45 million shares worth approximately $122.7 million, representing about 0.13% of Mizuho.
• Mizuho reported quarterly earnings of $0.22 per share, exceeding the $0.17 consensus estimate, while revenue reached $8.55 billion versus expectations of $5.51 billion.
• Mizuho shares opened at $10.68, near their 52-week high of $10.86. Analysts maintain a “Moderate Buy” consensus, with one Buy rating and one Hold rating.

Bank of America Corp DE decreased its position in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) by 1.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,452,635 shares of the bank's stock after selling 224,167 shares during the period. Bank of America Corp DE owned about 0.13% of Mizuho Financial Group worth $122,694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in shares of Mizuho Financial Group in the 1st quarter worth approximately $34,000. Parkside Financial Bank & Trust increased its holdings in Mizuho Financial Group by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank's stock valued at $32,000 after purchasing an additional 1,825 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in Mizuho Financial Group by 351.5% in the 4th quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank's stock valued at $33,000 after purchasing an additional 3,522 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Mizuho Financial Group in the 4th quarter valued at $49,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Mizuho Financial Group in the fourth quarter worth $54,000. Institutional investors own 3.26% of the company's stock.

Mizuho Financial Group Price Performance

MFG opened at $10.68 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a market capitalization of $131.85 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 0.87 and a beta of 0.45. The company's 50 day simple moving average is $10.01 and its 200-day simple moving average is $9.11. Mizuho Financial Group, Inc. has a one year low of $6.09 and a one year high of $10.86.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The bank reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $5.51 billion. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. Sell-side analysts anticipate that Mizuho Financial Group, Inc. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "buy (b+)" rating on shares of Mizuho Financial Group in a report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy".

Mizuho Financial Group 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source