Royal Bank of Canada Trims Stock Position in Mizuho Financial Group, Inc. $MFG

Key Points

• Royal Bank of Canada cut its Mizuho Financial Group stake by 73.4% in the first quarter, selling 361,270 shares and retaining 131,172 shares valued at approximately $1.04 million.
• Mizuho reported quarterly EPS of $0.22, beating the $0.17 consensus estimate, while revenue reached $8.55 billion versus expectations of $5.51 billion.
• MFG shares opened at $10.29, near their 52-week high, and analysts maintain a consensus “Buy” rating; Weiss Ratings also upgraded the stock to “buy (a-).”

Royal Bank of Canada trimmed its position in Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) by 73.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,172 shares of the bank's stock after selling 361,270 shares during the quarter. Royal Bank of Canada's holdings in Mizuho Financial Group were worth $1,042,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust lifted its holdings in Mizuho Financial Group by 72.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank's stock valued at $32,000 after acquiring an additional 1,825 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Mizuho Financial Group by 351.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank's stock worth $33,000 after acquiring an additional 3,522 shares during the period. V Square Quantitative Management LLC acquired a new stake in Mizuho Financial Group during the first quarter worth $34,000. Kestra Advisory Services LLC acquired a new stake in Mizuho Financial Group during the fourth quarter worth $49,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Mizuho Financial Group in the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 3.26% of the company's stock.

Mizuho Financial Group Price Performance

Shares of MFG opened at $10.29 on Friday. Mizuho Financial Group, Inc. has a 1-year low of $6.09 and a 1-year high of $11.06. The stock has a market cap of $127.09 billion, a PE ratio of 12.55, a P/E/G ratio of 0.81 and a beta of 0.45. The firm has a 50-day simple moving average of $10.26 and a two-hundred day simple moving average of $9.26. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.93.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The bank reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm 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, analysts forecast that Mizuho Financial Group, Inc. will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Mizuho Financial Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy".

About Mizuho Financial Group

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.

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