QRG Capital Management Inc. Purchases 95,651 Shares of Mizuho Financial Group, Inc. $MFG

Key Points

• QRG Capital Management increased its Mizuho Financial Group stake by 14.3% in the second quarter, purchasing 95,651 shares and bringing its total holdings to 765,157 shares valued at approximately $7.33 million.
• Mizuho reported quarterly earnings of $0.22 per share, beating analyst expectations of $0.17, while revenue reached $8.55 billion versus the $5.51 billion consensus estimate.
• The stock recently traded at $10.56, down 1.6%, but analysts remain optimistic: Weiss Ratings upgraded the shares to “buy (a-),” and MarketBeat reports a consensus “Strong Buy” rating.

QRG Capital Management Inc. raised its position in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) by 14.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 765,157 shares of the bank's stock after buying an additional 95,651 shares during the period. QRG Capital Management Inc.'s holdings in Mizuho Financial Group were worth $7,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new position in Mizuho Financial Group in the 1st quarter valued at about $34,000. Grove Bank & Trust purchased a new stake in Mizuho Financial Group during the 2nd quarter worth approximately $49,000. Fifth Third Bancorp lifted its holdings in Mizuho Financial Group by 16.2% during the 1st quarter. Fifth Third Bancorp now owns 9,577 shares of the bank's stock worth $76,000 after buying an additional 1,338 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Mizuho Financial Group by 689.7% during the 4th quarter. Manchester Capital Management LLC now owns 10,243 shares of the bank's stock worth $75,000 after buying an additional 8,946 shares in the last quarter. Finally, Axiom Investment Management LLC purchased a new position in Mizuho Financial Group in the 1st quarter valued at approximately $82,000. 3.26% of the stock is owned by institutional investors and hedge funds.

Mizuho Financial Group Trading Down 1.6%

NYSE MFG opened at $10.56 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. Mizuho Financial Group, Inc. has a 52 week low of $6.09 and a 52 week high of $11.49. The stock has a market capitalization of $130.49 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46. The firm has a 50 day moving average of $10.66 and a two-hundred day moving average of $9.56.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.51 billion. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. As a group, research analysts expect that Mizuho Financial Group, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded Mizuho Financial Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Mizuho Financial Group currently has a consensus rating of "Strong Buy".

Mizuho Financial Group Profile

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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