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

Key Points

• Mizuho Financial Group hit a new 52-week high, trading as high as $10.79 before easing slightly to around $10.59 on heavy volume of more than 3.7 million shares.
• Analyst sentiment is generally positive: Weiss Ratings reiterated a "buy (b+)" rating, and MarketBeat shows a consensus rating of Moderate Buy.
• The stock has been trending above its moving averages, with a 50-day average of $9.52 and a 200-day average of $8.80, while institutional investors modestly increased their holdings in recent quarters.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $10.79 and last traded at $10.5850, with a volume of 3706074 shares changing hands. The stock had previously closed at $10.49.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a "buy (b+)" rating on shares of Mizuho Financial Group in a report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy".

Mizuho Financial Group Price Performance

The stock's 50-day moving average is $9.52 and its 200 day moving average is $8.80. The stock has a market capitalization of $130.73 billion, a PE ratio of 13.93, a P/E/G ratio of 0.64 and a beta of 0.46. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.82.

Institutional Investors Weigh In On Mizuho Financial Group

Institutional investors have recently modified their holdings of the stock. Fiduciary Financial Group LLC grew its holdings 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 in the last quarter. Paladin Wealth LLC raised its holdings in shares of Mizuho Financial Group by 17.2% during the second quarter. Paladin Wealth LLC now owns 14,030 shares of the bank's stock worth $134,000 after acquiring an additional 2,057 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in Mizuho Financial Group by 17.3% during 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 during the last quarter. Gradient Investments LLC boosted its position in Mizuho Financial Group by 6.8% during 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 during the last quarter. Finally, Trust Point Inc. grew its stake in Mizuho Financial Group by 19.3% in the second quarter. Trust Point Inc. now owns 52,359 shares of the bank's stock valued at $502,000 after purchasing an additional 8,478 shares in the last quarter. Institutional investors and hedge funds own 3.26% of the company's stock.

Mizuho Financial Group Company Profile

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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