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.

Shares of Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) 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.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Mizuho Financial Group from a "hold" rating to a "sell" rating in a research report on Saturday.

Mizuho Financial Group Stock Performance

The company has a market cap of $74.32 billion, a P/E ratio of 12.55, a P/E/G ratio of 0.67 and a beta of 0.38. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.99 and a quick ratio of 0.99. The stock's 50-day moving average is $5.59 and its two-hundred day moving average is $5.40.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last posted 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. Mizuho Financial Group had a return on equity of 10.37% and a net margin of 9.81%. The firm had revenue of $12.84 billion for the quarter, compared to analysts' expectations of $5.38 billion. As a group, equities research analysts predict that Mizuho Financial Group, Inc. will post 0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mizuho Financial Group

Several large investors have recently made changes to their positions in the company. Lazard Asset Management LLC grew its position in shares of Mizuho Financial Group by 54.7% during the 4th quarter. Lazard Asset Management LLC now owns 23,558,714 shares of the bank's stock worth $115,201,000 after buying an additional 8,329,657 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Mizuho Financial Group by 18.0% during the 4th quarter. Bank of America Corp DE now owns 16,121,663 shares of the bank's stock valued at $78,835,000 after buying an additional 2,454,233 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Mizuho Financial Group by 0.4% in the first quarter. Goldman Sachs Group Inc. now owns 14,508,417 shares of the bank's stock valued at $79,941,000 after buying an additional 57,806 shares in the last quarter. Northern Trust Corp increased its holdings in Mizuho Financial Group by 2.2% in the 1st quarter. Northern Trust Corp now owns 9,954,056 shares of the bank's stock worth $54,847,000 after acquiring an additional 210,073 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Mizuho Financial Group by 48.5% in the fourth quarter. Wells Fargo & Company MN now owns 3,038,291 shares of the bank's stock worth $14,857,000 after acquiring an additional 992,900 shares during the last quarter. 3.26% of the stock is owned by institutional investors.

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.