456,194 Shares in Mizuho Financial Group, Inc. (NYSE:MFG) Purchased by Zions Bancorporation National Association UT

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 bought a new position in Mizuho Financial Group, Inc. (NYSE:MFG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 456,194 shares of the bank's stock, valued at approximately $2,514,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lazard Asset Management LLC increased its stake in shares of Mizuho Financial Group by 54.7% in 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 in the last quarter. Bank of America Corp DE increased its stake in shares of Mizuho Financial Group by 18.0% in 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 in the last quarter. Northern Trust Corp increased its stake in shares of Mizuho Financial Group by 86.1% in 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 in the last quarter. Wells Fargo & Company MN increased its stake in shares of Mizuho Financial Group by 48.5% in 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 in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Mizuho Financial Group by 16.5% in 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 in the last quarter. Institutional investors own 3.26% of the company's stock.

Mizuho Financial Group Stock Down 0.4%

NYSE:MFG traded down $0.03 during mid-day trading on Monday, hitting $6.24. The stock had a trading volume of 1,655,274 shares, compared to its average volume of 3,307,192. The stock has a 50-day simple moving average of $5.66 and a two-hundred day simple moving average of $5.45. The company has a market capitalization of $78.54 billion, a PE ratio of 12.99, a PEG ratio of 0.84 and a beta of 0.39. Mizuho Financial Group, Inc. has a twelve month low of $3.83 and a twelve month high of $6.28. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.21.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Mizuho Financial Group from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd.

Mizuho Financial Group 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.