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

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) issued 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 business 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 Trading Up 1.3%

NYSE:MFG traded up $0.08 during midday trading on Monday, hitting $5.92. 889,865 shares of the company traded hands, compared to its average volume of 2,852,939. The firm's fifty day moving average is $5.61 and its 200-day moving average is $5.41. Mizuho Financial Group has a 12-month low of $3.45 and a 12-month high of $6.24. The firm has a market capitalization of $74.51 billion, a P/E ratio of 12.34, a P/E/G ratio of 0.78 and a beta of 0.39. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.21.

Institutional Trading of Mizuho Financial Group

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

Analyst Ratings Changes

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

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.