Mizuho Financial Group (NYSE:MFG) Posts Quarterly Earnings Results, Meets Expectations

Key Points

• Mizuho Financial Group reported quarterly earnings of $0.15 EPS, meeting analysts' estimates but falling short on revenue with $5.13 billion compared to expectations of $5.42 billion.
• The company's stock was down by 0.8%, trading at $5.85, with a market cap of $73.69 billion and a P/E ratio of 12.19.
• Wall Street Zen downgraded Mizuho's shares from a "hold" rating to a "sell" rating, reflecting a bearish outlook from analysts.

Mizuho Financial Group (NYSE:MFG - Get Free Report) posted its earnings results on Thursday. The bank reported $0.15 earnings per share for the quarter, hitting analysts' consensus estimates of $0.15, Zacks reports. The company had revenue of $5.13 billion during the quarter, compared to analyst estimates of $5.42 billion. Mizuho Financial Group had a return on equity of 8.48% and a net margin of 10.16%.

Mizuho Financial Group Stock Up 1.6%

Mizuho Financial Group stock traded up $0.10 during mid-day trading on Wednesday, reaching $6.08. 701,699 shares of the company were exchanged, compared to its average volume of 2,850,870. The business has a fifty day moving average of $5.63 and a 200 day moving average of $5.42. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $76.52 billion, a P/E ratio of 12.68, a PEG ratio of 0.79 and a beta of 0.39. Mizuho Financial Group has a 12-month low of $3.74 and a 12-month high of $6.24.

Analyst Upgrades and Downgrades

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

Institutional Trading of Mizuho Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Brighton Jones LLC lifted its holdings in shares of Mizuho Financial Group by 19.3% during the 4th quarter. Brighton Jones LLC now owns 12,343 shares of the bank's stock valued at $60,000 after purchasing an additional 1,998 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Mizuho Financial Group by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,508,417 shares of the bank's stock valued at $79,941,000 after purchasing an additional 57,806 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Mizuho Financial Group by 29.3% during the 1st quarter. AQR Capital Management LLC now owns 392,998 shares of the bank's stock valued at $2,165,000 after purchasing an additional 89,095 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Mizuho Financial Group by 129.0% during the 1st quarter. Focus Partners Wealth now owns 51,966 shares of the bank's stock valued at $286,000 after purchasing an additional 29,273 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Mizuho Financial Group by 89.6% during the 1st quarter. Acadian Asset Management LLC now owns 13,663 shares of the bank's stock valued at $74,000 after purchasing an additional 6,455 shares during the last quarter. Hedge funds and other institutional investors own 3.26% of the company's stock.

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.