Engineers Gate Manager LP Takes Position in Mizuho Financial Group, Inc. $MFG

Key Points

• Engineers Gate Manager LP acquired 111,373 shares of Mizuho Financial Group during the second quarter, valued at approximately $1.07 million.
• Several other hedge funds increased their Mizuho positions, while institutional investors collectively owned 3.26% of the company’s stock.
• Mizuho received an upgraded “Buy” rating, and its latest quarterly results exceeded expectations with earnings of $0.22 per share versus the $0.17 consensus estimate.

Engineers Gate Manager LP acquired a new stake in Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 111,373 shares of the bank's stock, valued at approximately $1,067,000.

Several other hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its position in Mizuho Financial Group by 14.9% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 16,076 shares of the bank's stock valued at $154,000 after acquiring an additional 2,090 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of Mizuho Financial Group by 44.7% during the second quarter. NewEdge Advisors LLC now owns 21,722 shares of the bank's stock worth $208,000 after purchasing an additional 6,710 shares in the last quarter. BayBridge Capital Group LLC lifted its position in shares of Mizuho Financial Group by 17.9% during the second quarter. BayBridge Capital Group LLC now owns 54,653 shares of the bank's stock worth $524,000 after purchasing an additional 8,314 shares in the last quarter. West Family Investments Inc. boosted its stake in shares of Mizuho Financial Group by 29.1% in the second quarter. West Family Investments Inc. now owns 71,823 shares of the bank's stock valued at $688,000 after purchasing an additional 16,168 shares during the period. Finally, Waverly Advisors LLC boosted its stake in shares of Mizuho Financial Group by 3.7% in the second quarter. Waverly Advisors LLC now owns 25,492 shares of the bank's stock valued at $244,000 after purchasing an additional 909 shares during the period. Institutional investors and hedge funds own 3.26% of the company's stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Mizuho Financial Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Strong Buy".

Mizuho Financial Group Stock Performance

Shares of MFG stock opened at $10.93 on Friday. The company has a market cap of $134.93 billion, a P/E ratio of 13.32, a PEG ratio of 0.88 and a beta of 0.46. The firm has a fifty day moving average price of $10.64 and a 200 day moving average price of $9.48. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.53. Mizuho Financial Group, Inc. has a 12 month low of $6.09 and a 12 month high of $11.49.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. The company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $5.51 billion. Mizuho Financial Group had a return on equity of 12.82% and a net margin of 17.15%. Sell-side analysts predict that Mizuho Financial Group, Inc. will post 0.73 earnings per share for the current fiscal year.

About Mizuho Financial Group

Mizuho Financial Group, Inc is a Japan-based financial services group headquartered in Tokyo. Established in 2003 through the integration of Dai-Ichi Kangyo Bank, Fuji Bank and Industrial Bank of Japan, the group operates through a range of financial businesses serving individuals, companies, financial institutions and public-sector organizations.

Its principal activities include commercial and investment banking, trust banking, securities services, asset management, leasing, research and consulting.

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