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

Key Points

• Mizuho Financial Group shares hit a new 52-week high of $10.83, rising 4.4% from the prior close. MarketBeat’s analyst consensus is “Moderate Buy,” supported by a reaffirmed “buy (b+)” rating from Weiss Ratings.
• The bank reported quarterly earnings of $0.22 per share, exceeding the $0.17 consensus estimate, while revenue reached $8.55 billion versus the $5.51 billion forecast.
• Several institutional investors increased their holdings, though institutional ownership remains relatively low at 3.26%. Analysts expect Mizuho to deliver $0.72 in EPS for the current fiscal year.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $10.83 and last traded at $10.83, with a volume of 290382 shares changing hands. The stock had previously closed at $10.34.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Mizuho Financial Group in a research note on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Mizuho Financial Group currently has an average rating of "Moderate Buy".

Mizuho Financial Group Stock Up 4.4%

The firm has a market capitalization of $133.39 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 0.84 and a beta of 0.45. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.93 and a current ratio of 0.93. The business's 50 day moving average is $9.94 and its 200-day moving average is $9.08.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last released its earnings results on Thursday, July 30th. The bank reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $5.51 billion. Equities analysts anticipate that Mizuho Financial Group, Inc. will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Mizuho Financial Group

Several large investors have recently made changes to their positions in the business. Fiduciary Financial Group LLC grew its holdings in Mizuho Financial Group by 8.5% in the 2nd quarter. Fiduciary Financial Group LLC now owns 15,735 shares of the bank's stock valued at $151,000 after buying an additional 1,235 shares during the last quarter. Abel Hall LLC boosted its position in shares of Mizuho Financial Group by 2.0% in the first quarter. Abel Hall LLC now owns 63,045 shares of the bank's stock valued at $501,000 after acquiring an additional 1,257 shares during the period. Fifth Third Bancorp boosted its position in shares of Mizuho Financial Group by 16.2% in the first quarter. Fifth Third Bancorp now owns 9,577 shares of the bank's stock valued at $76,000 after acquiring an additional 1,338 shares during the period. Klingman & Associates LLC grew its stake in shares of Mizuho Financial Group by 10.5% in the first quarter. Klingman & Associates LLC now owns 14,137 shares of the bank's stock worth $112,000 after acquiring an additional 1,341 shares during the last quarter. Finally, Anchyra Partners LLC increased its position in Mizuho Financial Group by 4.4% during the first quarter. Anchyra Partners LLC now owns 32,639 shares of the bank's stock worth $259,000 after acquiring an additional 1,371 shares during the period. Institutional investors and hedge funds own 3.26% of the company's stock.

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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