Zions Bancorporation National Association UT Invests $2.51 Million in Mizuho Financial Group, Inc. (NYSE:MFG)

Key Points

• Zions Bancorporation purchased a new stake in Mizuho Financial Group, acquiring 456,194 shares valued at approximately $2.5 million in the first quarter.
• Mizuho's stock rose by 1.8% opening at $6.25, with a market cap of $78.73 billion and a price-to-earnings ratio of 13.02.
• Analysts upgraded Mizuho Financial Group from a "sell" rating to a "hold" rating, reflecting a shift in market sentiment.

Zions Bancorporation National Association UT purchased a new position in shares of Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 456,194 shares of the bank's stock, valued at approximately $2,514,000.

A number of other hedge funds have also bought and sold shares of the business. Lazard Asset Management LLC lifted its stake in Mizuho Financial Group by 54.7% during the fourth quarter. Lazard Asset Management LLC now owns 23,558,714 shares of the bank's stock worth $115,201,000 after purchasing an additional 8,329,657 shares during the last quarter. Bank of America Corp DE lifted its stake in Mizuho Financial Group by 18.0% during the fourth quarter. Bank of America Corp DE now owns 16,121,663 shares of the bank's stock worth $78,835,000 after purchasing an additional 2,454,233 shares during the last quarter. Northern Trust Corp lifted its stake in Mizuho Financial Group by 86.1% during the fourth quarter. Northern Trust Corp now owns 9,743,983 shares of the bank's stock worth $47,648,000 after purchasing an additional 4,508,649 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Mizuho Financial Group by 48.5% during the fourth quarter. Wells Fargo & Company MN now owns 3,038,291 shares of the bank's stock worth $14,857,000 after purchasing an additional 992,900 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Mizuho Financial Group by 16.5% during the fourth quarter. Renaissance Technologies LLC now owns 3,020,703 shares of the bank's stock worth $14,771,000 after purchasing an additional 427,400 shares during the last quarter. 3.26% of the stock is currently owned by institutional investors.

Mizuho Financial Group Trading Down 0.5%

NYSE:MFG traded down $0.04 during mid-day trading on Wednesday, reaching $6.40. 1,242,778 shares of the company's stock traded hands, compared to its average volume of 2,815,476. Mizuho Financial Group, Inc. has a 12-month low of $3.91 and a 12-month high of $6.47. The firm has a market capitalization of $80.55 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 0.84 and a beta of 0.39. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.96 and a quick ratio of 0.96. The company has a 50 day moving average price of $5.69 and a 200-day moving average price of $5.46.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The bank reported $0.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.15. Mizuho Financial Group had a return on equity of 8.48% and a net margin of 10.16%. The company had revenue of $5.13 billion for the quarter, compared to the consensus estimate of $5.42 billion. On average, sell-side analysts predict that Mizuho Financial Group, Inc. will post 0.42 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Mizuho Financial Group from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc, together with its subsidiaries, engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally. It operates through Retail & Business Banking Company, Corporate & Institutional Company, Global Corporate Company, Global Markets Company, Asset Management Company, and Others segments.