Mizuho Financial Group (NYSE:MFG) Sets New 52-Week High - Here's What Happened

Key Points

• Mizuho Financial Group shares reached a new 52-week high of $11.08, closing trading at $11.075 after rising 2.8% from the previous close.
• Weiss Ratings upgraded Mizuho from “buy (b+)” to “buy (a-),” while MarketBeat data showed a consensus “Strong Buy” rating.
• The bank exceeded quarterly expectations, reporting $0.22 in earnings per share versus the $0.17 estimate and $8.55 billion in revenue versus the $5.51 billion forecast.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $11.08 and last traded at $11.0750, with a volume of 789611 shares traded. The stock had previously closed at $10.74.

Analyst Upgrades and Downgrades

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

Mizuho Financial Group Trading Up 2.8%

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 company has a market cap of $136.42 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.85 and a beta of 0.46. The business has a 50 day simple moving average of $10.33 and a 200 day simple moving average of $9.31.

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

Hedge Funds Weigh In On Mizuho Financial Group

A number of large investors have recently modified their holdings of MFG. Brighton Jones LLC raised its position in Mizuho Financial Group by 19.3% in the 4th quarter. Brighton Jones LLC now owns 12,343 shares of the bank's stock worth $60,000 after purchasing an additional 1,998 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Mizuho Financial Group by 29.3% in the 1st quarter. AQR Capital Management LLC now owns 392,998 shares of the bank's stock valued at $2,165,000 after buying an additional 89,095 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Mizuho Financial Group by 0.4% during the first quarter. Goldman Sachs Group Inc. now owns 14,508,417 shares of the bank's stock worth $79,941,000 after acquiring an additional 57,806 shares during the last quarter. Focus Partners Wealth raised its position in shares of Mizuho Financial Group by 129.0% during the first quarter. Focus Partners Wealth now owns 51,966 shares of the bank's stock worth $286,000 after acquiring an additional 29,273 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Mizuho Financial Group by 89.6% during the first quarter. Acadian Asset Management LLC now owns 13,663 shares of the bank's stock valued at $74,000 after acquiring an additional 6,455 shares during the period. 3.26% of the stock is currently owned by institutional investors and hedge funds.

About Mizuho Financial Group

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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