Mizuho Financial Group (NYSE:MFG) Sets New 52-Week High - Here's Why

Key Points

• Mizuho Financial Group shares reached a new 52-week high, touching $10.40 before closing near $10.38 on heavy volume of about 4.1 million shares.
• Analyst sentiment remains constructive, with Weiss Ratings reaffirming a buy (B+) and MarketBeat showing an overall consensus rating of Moderate Buy.
• The stock has also been trending above its key averages, with a 50-day moving average of $9.36 and a 200-day moving average of $8.71, while hedge fund ownership has seen some recent additions.

Shares of Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $10.40 and last traded at $10.3750, with a volume of 4103902 shares trading hands. The stock had previously closed at $10.23.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b+)" rating on shares of Mizuho Financial Group in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy".

Mizuho Financial Group Stock Performance

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.82. The firm has a 50-day moving average of $9.36 and a 200-day moving average of $8.71. The stock has a market capitalization of $128.39 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 0.64 and a beta of 0.46.

Hedge Funds Weigh In On Mizuho Financial Group

Several institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in shares of Mizuho Financial Group in the first quarter valued at approximately $34,000. Parkside Financial Bank & Trust increased its position in shares of Mizuho Financial Group by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank's stock worth $32,000 after purchasing an additional 1,825 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in shares of Mizuho Financial Group by 351.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank's stock worth $33,000 after purchasing an additional 3,522 shares in the last quarter. Grove Bank & Trust acquired a new position in Mizuho Financial Group in the 2nd quarter valued at $49,000. Finally, Kestra Advisory Services LLC acquired a new position in Mizuho Financial Group in the 4th quarter valued at $49,000. 3.26% of the stock is owned by hedge funds and other institutional investors.

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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