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)'s share price 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 trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on MFG shares. Zacks Research lowered Mizuho Financial Group from a "strong-buy" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen upgraded shares of Mizuho Financial Group from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of "Hold".

Mizuho Financial Group Trading Down 2.4%

The business has a 50 day moving average of $6.01 and a 200 day moving average of $5.57. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.21. The firm has a market cap of $80.30 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.88 and a beta of 0.37.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The bank reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. The business had revenue of $5.13 billion for the quarter, compared to analyst estimates of $5.42 billion. Mizuho Financial Group had a return on equity of 8.48% and a net margin of 10.16%. On average, research analysts forecast 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

A number of institutional investors and hedge funds have recently modified their holdings of MFG. Lazard Asset Management LLC boosted its stake 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 acquiring an additional 8,329,657 shares in the last quarter. Northern Trust Corp grew its position in Mizuho Financial Group by 86.1% during the 4th quarter. Northern Trust Corp now owns 9,743,983 shares of the bank's stock worth $47,648,000 after acquiring an additional 4,508,649 shares during the last quarter. Bank of America Corp DE grew its position in 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 worth $78,835,000 after acquiring an additional 2,454,233 shares during the last quarter. Millennium Management LLC boosted its position in Mizuho Financial Group by 129.2% in the 4th quarter. Millennium Management LLC now owns 1,620,882 shares of the bank's stock valued at $7,926,000 after buying an additional 913,639 shares during the last quarter. Finally, Allianz SE bought a new position in shares of Mizuho Financial Group in the 1st quarter worth $3,251,000. 3.26% of the stock is owned by institutional investors and hedge funds.

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.

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