Mizuho Financial Group (NYSE:MFG) Shares Break Above 200-Day Moving Average - Here's Why

Key Points

• Mizuho Financial Group shares broke above their 200-day moving average of $9.90, reaching $10.22 before closing at $10.0650 in active trading.
• Analyst sentiment is strongly positive: Weiss Ratings upgraded the stock to “buy (a),” while MarketBeat reports an average rating of “Strong Buy.”
• Mizuho exceeded quarterly expectations, reporting earnings of $0.22 per share versus the $0.17 consensus and revenue of $8.55 billion compared with estimates of $5.51 billion.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $9.90 and traded as high as $10.22. Mizuho Financial Group shares last traded at $10.0650, with a volume of 3,176,676 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Mizuho Financial Group from a "buy (a-)" rating to a "buy (a)" rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy".

Mizuho Financial Group Trading Down 1.0%

The stock's fifty day simple moving average is $10.78 and its 200-day simple moving average is $9.90. 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 firm has a market cap of $124.31 billion, a PE ratio of 12.27, a PEG ratio of 0.67 and a beta of 0.48.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last announced its quarterly earnings data 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. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $5.51 billion. On average, sell-side analysts forecast that Mizuho Financial Group, Inc. will post 0.75 earnings per share for the current year.

Institutional Trading of Mizuho Financial Group

Several large investors have recently added to or reduced their stakes in MFG. Waverly Advisors LLC increased its stake in Mizuho Financial Group by 3.7% during the 2nd quarter. Waverly Advisors LLC now owns 25,492 shares of the bank's stock worth $244,000 after buying an additional 909 shares in the last quarter. Fiduciary Financial Group LLC raised its holdings in shares of Mizuho Financial Group by 8.5% during the second quarter. Fiduciary Financial Group LLC now owns 15,735 shares of the bank's stock valued at $151,000 after acquiring an additional 1,235 shares during the last quarter. Abel Hall LLC raised its holdings in shares of Mizuho Financial Group by 2.0% during the first quarter. Abel Hall LLC now owns 63,045 shares of the bank's stock valued at $501,000 after acquiring an additional 1,257 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Mizuho Financial Group by 16.2% during the first quarter. Fifth Third Bancorp now owns 9,577 shares of the bank's stock valued at $76,000 after acquiring an additional 1,338 shares during the last quarter. Finally, Klingman & Associates LLC lifted its position in shares of Mizuho Financial Group by 10.5% in the first quarter. Klingman & Associates LLC now owns 14,137 shares of the bank's stock valued at $112,000 after acquiring an additional 1,341 shares in the last quarter. Hedge funds and other institutional investors own 3.26% of the company's stock.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a Japan-based financial services holding company headquartered in Tokyo. Through its subsidiaries, the group provides banking, trust banking, securities, asset management, and other financial services to individuals, businesses, financial institutions, and public-sector organizations.

Its principal businesses include deposits and lending, payments and settlement services, foreign exchange, investment banking, securities brokerage and underwriting, trust and asset management, wealth management, and corporate advisory services.

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