Mizuho Financial Group, Inc. (NYSE:MFG) Short Interest Down 32.2% in August

Key Points

• Short interest in Mizuho Financial Group fell 32.2% to 7.99 million shares as of August 14, representing 0.1% of shares outstanding and a 2.8-day days-to-cover ratio.
• Institutional investors increased their positions during the second quarter, although institutions collectively own just 3.26% of the stock. Weiss Ratings also upgraded Mizuho to “buy (a-),” with the stock carrying a consensus “Strong Buy” rating.
• Mizuho exceeded quarterly expectations, reporting $0.22 earnings per share versus $0.17 expected and $8.55 billion in revenue versus a $5.51 billion estimate. Shares opened at $10.63, near their 12-month high of $11.06.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) was the recipient of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 7,991,755 shares, a decline of 32.2% from the July 30th total of 11,795,198 shares. Based on an average daily volume of 2,830,170 shares, the days-to-cover ratio is currently 2.8 days. Currently, 0.1% of the company's shares are short sold.

Institutional Investors Weigh In On Mizuho Financial Group

Large investors have recently made changes to their positions in the business. Corient Private Wealth LP increased its stake in shares of Mizuho Financial Group by 1.7% during the second quarter. Corient Private Wealth LP now owns 216,683 shares of the bank's stock valued at $2,076,000 after buying an additional 3,614 shares during the period. HB Wealth Management LLC raised its holdings in shares of Mizuho Financial Group by 18.3% during the second quarter. HB Wealth Management LLC now owns 88,492 shares of the bank's stock valued at $848,000 after acquiring an additional 13,665 shares in the last quarter. Syon Capital LLC lifted its stake in Mizuho Financial Group by 19.2% in the second quarter. Syon Capital LLC now owns 130,693 shares of the bank's stock worth $1,252,000 after acquiring an additional 21,046 shares during the period. TD Waterhouse Canada Inc. lifted its stake in Mizuho Financial Group by 19,975.3% in the second quarter. TD Waterhouse Canada Inc. now owns 439,047 shares of the bank's stock worth $4,309,000 after acquiring an additional 436,860 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its holdings in Mizuho Financial Group by 37.5% in the second quarter. Concurrent Investment Advisors LLC now owns 51,373 shares of the bank's stock valued at $492,000 after acquiring an additional 14,008 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Mizuho Financial Group from a "buy (b+)" rating to a "buy (a-)" rating in a report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

Mizuho Financial Group Stock Performance

Shares of NYSE:MFG opened at $10.63 on Tuesday. The company has a market cap of $131.29 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. The company has a 50-day moving average price of $10.31 and a 200-day moving average price of $9.31. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.53. Mizuho Financial Group has a 12 month low of $6.09 and a 12 month high of $11.06.

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 for the quarter, topping analysts' consensus estimates of $0.17 by $0.05. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $5.51 billion. As a group, equities analysts anticipate that Mizuho Financial Group will post 0.73 EPS for the current year.

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.

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