Mizuho Financial Group (NYSE:MFG) Hits New 1-Year High - Time to Buy?

Key Points

• Mizuho Financial Group shares reached a new 52-week high, trading as high as $11.49 and rising from the prior close of $11.06.
• Analyst sentiment is positive: Weiss Ratings upgraded the stock to “buy (a-),” while MarketBeat reports a consensus “Strong Buy” rating.
• The bank exceeded quarterly expectations, reporting $0.22 earnings per share versus $0.17 expected and $8.55 billion in revenue versus a $5.51 billion consensus estimate.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $11.49 and last traded at $11.4460, with a volume of 304354 shares. The stock had previously closed at $11.06.

Analyst Ratings Changes

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

Mizuho Financial Group Stock Performance

The firm has a market cap of $141.23 billion, a PE ratio of 13.93, a P/E/G ratio of 0.87 and a beta of 0.46. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day moving average price of $10.53 and a 200 day moving average price of $9.39.

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

Institutional Investors Weigh In On Mizuho Financial Group

Several hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC acquired a new position in Mizuho Financial Group during the first quarter worth approximately $34,000. Parkside Financial Bank & Trust grew its stake in shares of Mizuho Financial Group by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank's stock valued at $32,000 after buying an additional 1,825 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Mizuho Financial Group by 351.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank's stock valued at $33,000 after buying an additional 3,522 shares during the period. Grove Bank & Trust acquired a new stake in shares of Mizuho Financial Group during the 2nd quarter worth $49,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Mizuho Financial Group in the 4th quarter worth $49,000. 3.26% of the stock is owned by institutional investors and hedge funds.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a Japan-based financial services group headquartered in Tokyo. Established in 2003 through the integration of Dai-Ichi Kangyo Bank, Fuji Bank and Industrial Bank of Japan, the group operates through a range of financial businesses serving individuals, companies, financial institutions and public-sector organizations.

Its principal activities include commercial and investment banking, trust banking, securities services, asset management, leasing, research and consulting.

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