Mizuho Financial Group (NYSE:MFG) Shares Gap Down - Here's What Happened

Key Points

• Mizuho Financial Group shares gapped down from a previous close of $6.19 to open at $5.95, with the last trade recorded at $5.94.
• Wall Street analysts downgraded Mizuho Financial Group from a "hold" to a "sell" rating, signaling a negative outlook for the stock.
• Institutional investors have increased their holdings in Mizuho Financial Group, with notable raises by Brooklyn Investment Group and Bessemer Group Inc., reflecting growing interest despite recent trading challenges.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $6.19, but opened at $5.95. Mizuho Financial Group shares last traded at $5.94, with a volume of 544,273 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded Mizuho Financial Group from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th.

Mizuho Financial Group Price Performance

The stock has a 50 day simple moving average of $5.60 and a two-hundred day simple moving average of $5.40. The firm has a market cap of $73.69 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 0.67 and a beta of 0.38. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.99 and a current ratio of 0.99.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The bank reported $0.03 earnings per share for the quarter, meeting analysts' consensus estimates of $0.03. The business had revenue of $12.84 billion during the quarter, compared to analyst estimates of $5.38 billion. Mizuho Financial Group had a return on equity of 10.37% and a net margin of 9.81%. Sell-side analysts expect that Mizuho Financial Group, Inc. will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Mizuho Financial Group

A number of institutional investors have recently modified their holdings of MFG. Brighton Jones LLC raised its stake in shares of Mizuho Financial Group by 19.3% during the 4th 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 last quarter. Sei Investments Co. increased its stake in shares of Mizuho Financial Group by 85.9% in the 4th quarter. Sei Investments Co. now owns 86,697 shares of the bank's stock valued at $424,000 after purchasing an additional 40,064 shares in the last quarter. LPL Financial LLC increased its stake in shares of Mizuho Financial Group by 108.9% in the 4th quarter. LPL Financial LLC now owns 64,582 shares of the bank's stock valued at $316,000 after purchasing an additional 33,664 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Mizuho Financial Group by 79.6% in the 4th quarter. JPMorgan Chase & Co. now owns 343,786 shares of the bank's stock valued at $1,681,000 after purchasing an additional 152,352 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Mizuho Financial Group by 4.3% in the 4th quarter. Franklin Resources Inc. now owns 57,622 shares of the bank's stock valued at $282,000 after purchasing an additional 2,391 shares in the last quarter. Hedge funds and other institutional investors own 3.26% of the company's stock.

About Mizuho Financial Group

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.