Mizuho Financial Group (NYSE:MFG) Lowered to Sell Rating by Wall Street Zen

Key Points

• Mizuho Financial Group has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, as stated in a note to investors.
• The company's shares slightly declined by 0.2% following the downgrade announcement and opened at $6.19.
• Mizuho Financial reported $0.03 earnings per share for the latest quarter, matching analysts' expectations, with a significant revenue of $12.84 billion.

Wall Street Zen lowered shares of Mizuho Financial Group (NYSE:MFG - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

Mizuho Financial Group Stock Performance

MFG stock traded down $0.05 during mid-day trading on Friday, hitting $5.90. 2,193,673 shares of the company were exchanged, compared to its average volume of 3,933,647. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.41. Mizuho Financial Group has a 1-year low of $3.45 and a 1-year high of $6.24. The business has a 50 day simple moving average of $5.58 and a 200-day simple moving average of $5.39. The stock has a market capitalization of $74.26 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 0.68 and a beta of 0.38.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last posted its earnings results on Thursday, May 15th. The bank reported $0.03 earnings per share for the quarter, hitting analysts' consensus estimates of $0.03. Mizuho Financial Group had a net margin of 9.81% and a return on equity of 10.37%. The firm had revenue of $12.84 billion for the quarter, compared to analysts' expectations of $5.38 billion. On average, equities analysts forecast that Mizuho Financial Group will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Mizuho Financial Group

Institutional investors have recently made changes to their positions in the stock. Brooklyn Investment Group raised its holdings in shares of Mizuho Financial Group by 166.3% during the first quarter. Brooklyn Investment Group now owns 5,499 shares of the bank's stock valued at $30,000 after purchasing an additional 3,434 shares during the period. Bessemer Group Inc. grew its position in shares of Mizuho Financial Group by 51.5% during the 4th quarter. Bessemer Group Inc. now owns 6,430 shares of the bank's stock valued at $31,000 after acquiring an additional 2,187 shares during the period. Allworth Financial LP grew its position in shares of Mizuho Financial Group by 81.8% during the 1st quarter. Allworth Financial LP now owns 6,611 shares of the bank's stock valued at $36,000 after acquiring an additional 2,975 shares during the period. Quantbot Technologies LP bought a new position in Mizuho Financial Group in the 1st quarter worth approximately $42,000. Finally, BIP Alliance LLC bought a new position in Mizuho Financial Group in the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 3.26% of the company's stock.

About Mizuho Financial Group

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.