Mizuho Financial Group (NYSE:MFG) Hits New 1-Year High - Here's What Happened

Key Points

• Mizuho Financial Group shares reached a new 52-week high of $6.47 during trading, with the stock last at $6.40 and a trading volume of over 1.75 million shares.
• Wall Street analysts upgraded the bank's rating from "sell" to "hold," reflecting a more favorable outlook on the company's performance.
• The bank reported $0.15 in earnings per share for the last quarter, matching analyst estimates, but fell short of revenue expectations with $5.13 billion against a forecast of $5.42 billion.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.47 and last traded at $6.40, with a volume of 1752218 shares changing hands. The stock had previously closed at $6.43.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Mizuho Financial Group from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd.

Mizuho Financial Group Trading Up 2.8%

The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.21. The stock has a market cap of $84.14 billion, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 0.87 and a beta of 0.39. The firm's 50 day moving average is $5.75 and its two-hundred day moving average is $5.49.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last posted its earnings results on Thursday, July 31st. The bank reported $0.15 EPS for the quarter, hitting the consensus estimate of $0.15. Mizuho Financial Group had a net margin of 10.16% and a return on equity of 8.48%. The firm had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.42 billion. Equities analysts anticipate that Mizuho Financial Group, Inc. will post 0.42 EPS for the current year.

Hedge Funds Weigh In On Mizuho Financial Group

Several hedge funds have recently modified their holdings of the company. Seeds Investor LLC increased its holdings in shares of Mizuho Financial Group by 18.6% in the second quarter. Seeds Investor LLC now owns 12,237 shares of the bank's stock valued at $68,000 after buying an additional 1,917 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Mizuho Financial Group by 19.3% in 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 in the last quarter. Bessemer Group Inc. increased its holdings in shares of Mizuho Financial Group by 51.5% in the fourth quarter. Bessemer Group Inc. now owns 6,430 shares of the bank's stock valued at $31,000 after buying an additional 2,187 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in shares of Mizuho Financial Group by 6.7% in the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 34,890 shares of the bank's stock valued at $171,000 after buying an additional 2,188 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of Mizuho Financial Group by 9.2% in the fourth quarter. Lido Advisors LLC now owns 26,798 shares of the bank's stock valued at $131,000 after buying an additional 2,249 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

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.