Mizuho Financial Group (NYSE:MFG) Shares Gap Down - What's Next?

Key Points

• Mizuho Financial Group's shares gapped down from a previous close of $6.53 to open at $6.34, with the last trading price at $6.37.
• The company's stock was downgraded by Zacks Research from a "strong-buy" to a "hold" rating, while Wall Street Zen upgraded it from "sell" to "hold," reflecting mixed analyst sentiment.
• Institutional investors made significant moves, with Lazard Asset Management increasing its stake by 54.7%, underscoring growing interest in Mizuho Financial Group.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $6.53, but opened at $6.34. Mizuho Financial Group shares last traded at $6.37, with a volume of 372,802 shares.

Wall Street Analysts Forecast Growth

MFG has been the topic of several research reports. Zacks Research lowered Mizuho Financial Group from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Wall Street Zen raised Mizuho Financial Group from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

Mizuho Financial Group Stock Up 2.4%

The firm has a 50-day simple moving average of $6.06 and a 200 day simple moving average of $5.58. 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 company has a market capitalization of $83.96 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.80 and a beta of 0.37.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last announced its earnings results on Thursday, July 31st. The bank reported $0.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.15. Mizuho Financial Group had a return on equity of 8.48% and a net margin of 10.16%.The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.42 billion. On average, research analysts predict that Mizuho Financial Group, Inc. will post 0.42 EPS for the current fiscal year.

Institutional Trading of Mizuho Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Brooklyn Investment Group grew its stake in Mizuho Financial Group by 166.3% in the first quarter. Brooklyn Investment Group now owns 5,499 shares of the bank's stock worth $30,000 after purchasing an additional 3,434 shares in the last quarter. Allworth Financial LP grew its stake in Mizuho Financial Group by 81.8% in the first quarter. Allworth Financial LP now owns 6,611 shares of the bank's stock worth $36,000 after purchasing an additional 2,975 shares in the last quarter. Quantbot Technologies LP acquired a new position in Mizuho Financial Group in the first quarter valued at approximately $42,000. BIP Alliance LLC acquired a new position in Mizuho Financial Group in the fourth quarter valued at approximately $51,000. Finally, International Private Wealth Advisors LLC acquired a new position in Mizuho Financial Group in the first quarter valued at approximately $55,000. 3.26% of the stock is owned by hedge funds and other 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.