Mizuho Financial Group (NYSE:MFG) Hits New 52-Week High - Should You Buy?

Key Points

• Mizuho Financial Group shares reached a new 52-week high, trading near $10.9960, above the previous close of $10.81.
• Analysts maintain a generally positive outlook, with one Buy and one Hold rating resulting in a consensus “Moderate Buy”; Weiss Ratings also reaffirmed its “buy (b+)” rating.
• The bank beat quarterly expectations, reporting $0.22 earnings per share versus a $0.17 estimate and $8.55 billion in revenue versus a $5.51 billion consensus forecast.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $10.96 and last traded at $10.9960, with a volume of 1843 shares. The stock had previously closed at $10.81.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Mizuho Financial Group in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Mizuho Financial Group has a consensus rating of "Moderate Buy".

Mizuho Financial Group Stock Performance

The stock's 50-day simple moving average is $10.12 and its 200-day simple moving average is $9.17. The stock has a market cap of $135.92 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.53.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last released its quarterly earnings results 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 company had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $5.51 billion. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. Analysts forecast that Mizuho Financial Group, Inc. will post 0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mizuho Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fiduciary Financial Group LLC lifted its position in shares of Mizuho Financial Group by 8.5% during the 2nd quarter. Fiduciary Financial Group LLC now owns 15,735 shares of the bank's stock valued at $151,000 after acquiring an additional 1,235 shares during the period. Paladin Wealth LLC increased its position in shares of Mizuho Financial Group by 17.2% in the second quarter. Paladin Wealth LLC now owns 14,030 shares of the bank's stock worth $134,000 after purchasing an additional 2,057 shares during the period. Valeo Financial Advisors LLC raised its stake in Mizuho Financial Group by 17.3% in the second quarter. Valeo Financial Advisors LLC now owns 36,020 shares of the bank's stock valued at $345,000 after purchasing an additional 5,325 shares in the last quarter. Gradient Investments LLC raised its stake in Mizuho Financial Group by 6.8% in the second quarter. Gradient Investments LLC now owns 598,687 shares of the bank's stock valued at $5,735,000 after purchasing an additional 38,152 shares in the last quarter. Finally, Trust Point Inc. lifted its position in Mizuho Financial Group by 19.3% during the second quarter. Trust Point Inc. now owns 52,359 shares of the bank's stock worth $502,000 after purchasing an additional 8,478 shares during the period. 3.26% of the stock is owned by institutional investors and hedge funds.

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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