Mizuho Financial Group (NYSE:MFG) Stock Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• Mizuho Financial Group shares crossed above their 200-day moving average, reaching $10.32 and last trading at $10.29 versus the $9.26 long-term average.
• Analyst sentiment is positive: Weiss Ratings upgraded the stock to “buy (a-),” while MarketBeat reports a consensus “Buy” rating.
• Mizuho exceeded quarterly expectations, posting $0.22 EPS versus the $0.17 estimate and $8.55 billion in revenue against expectations of $5.51 billion.

Shares of Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.26 and traded as high as $10.32. Mizuho Financial Group shares last traded at $10.29, with a volume of 2,612,668 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Mizuho Financial Group from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy".

Mizuho Financial Group Stock Up 1.6%

The company has a market capitalization of $127.09 billion, a PE ratio of 12.55, a price-to-earnings-growth ratio of 0.81 and a beta of 0.45. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.53. The firm has a 50-day moving average of $10.26 and a two-hundred day moving average of $9.26.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last posted its earnings results on Thursday, July 30th. The bank reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.05. Mizuho Financial Group had a return on equity of 12.82% and a net margin of 17.15%.The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $5.51 billion. Equities research analysts predict that Mizuho Financial Group, Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Mizuho Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of MFG. Morgan Stanley lifted its position in Mizuho Financial Group by 5.7% in the fourth quarter. Morgan Stanley now owns 59,084,500 shares of the bank's stock valued at $432,499,000 after buying an additional 3,166,984 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Mizuho Financial Group by 590.7% during the fourth quarter. Natixis Advisors LLC now owns 16,560,891 shares of the bank's stock valued at $121,226,000 after acquiring an additional 14,163,328 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Mizuho Financial Group by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 16,266,878 shares of the bank's stock valued at $119,074,000 after acquiring an additional 1,716,932 shares during the period. Bank of America Corp DE raised its stake in shares of Mizuho Financial Group by 1.7% in the 3rd quarter. Bank of America Corp DE now owns 12,602,417 shares of the bank's stock valued at $84,436,000 after acquiring an additional 216,330 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Mizuho Financial Group by 1.7% in the 3rd quarter. Northern Trust Corp now owns 10,314,793 shares of the bank's stock worth $69,109,000 after acquiring an additional 167,604 shares during the last quarter. 3.26% of the stock is owned by institutional investors and hedge funds.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a major Japanese banking and financial services holding company headquartered in Tokyo. The group operates through a network of subsidiaries that provide a full range of retail, corporate and investment banking services. Its core businesses include deposit-taking and lending, transaction banking, cash management, trade finance and treasury services for both individual and institutional clients.

Beyond traditional commercial banking, Mizuho offers securities and capital markets services, investment banking, underwriting, M&A advisory, and asset management through its securities and trust banking arms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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