Mizuho Financial Group (NYSE:MFG) Sets New 52-Week High - Time to Buy?

Key Points

• Mizuho Financial Group's stock reached a new 52-week high of $6.24, with a trading volume of 174,157 shares.
• Wall Street Zen upgraded Mizuho Financial Group from a sell to a hold rating, indicating a potential reversal in analyst sentiment.
• The company reported quarterly earnings of $0.15 per share, matching analysts' expectations, but its revenue of $5.13 billion fell short of expectations of $5.42 billion.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) hit a new 52-week high on Friday . The company traded as high as $6.24 and last traded at $6.24, with a volume of 174157 shares trading hands. The stock had previously closed at $6.14.

Wall Street Analyst Weigh In

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

Mizuho Financial Group Stock Performance

The company has a debt-to-equity ratio of 1.21, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a 50 day simple moving average of $5.65 and a two-hundred day simple moving average of $5.44. The company has a market cap of $78.79 billion, a PE ratio of 13.03, a PEG ratio of 0.81 and a beta of 0.39.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in shares of Mizuho Financial Group by 16.9% in the second quarter. PNC Financial Services Group Inc. now owns 207,018 shares of the bank's stock valued at $1,151,000 after purchasing an additional 29,983 shares during the period. Vise Technologies Inc. purchased a new position in Mizuho Financial Group in the second quarter worth $1,321,000. Altman Advisors Inc. raised its position in Mizuho Financial Group by 1.9% in the second quarter. Altman Advisors Inc. now owns 449,892 shares of the bank's stock worth $2,528,000 after acquiring an additional 8,562 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Mizuho Financial Group in the second quarter worth $2,005,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in Mizuho Financial Group in the second quarter worth $145,000. Institutional investors and hedge funds 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.

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