Mizuho Financial Group (NYSE:MFG) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Mizuho Financial Group shares rose above their 200-day moving average, reaching $10.89 and closing around $10.7650 versus the $9.76 average.
• Weiss Ratings upgraded the stock from “buy (b+)” to “buy (a-),” while the sole tracked analyst maintains a Strong Buy rating and MarketBeat reports a consensus Strong Buy.
• Mizuho exceeded quarterly expectations, reporting $0.22 in earnings per share versus a $0.17 estimate and $8.55 billion in revenue against a $5.51 billion forecast.

Shares of Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $9.76 and traded as high as $10.89. Mizuho Financial Group shares last traded at $10.7650, with a volume of 3,264,663 shares traded.

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.com, the company presently has a consensus rating of "Strong Buy".

Mizuho Financial Group Stock Performance

The stock's 50-day moving average price is $10.79 and its 200-day moving average price is $9.76. The company has a market cap of $132.96 billion, a P/E ratio of 13.13, a PEG ratio of 0.74 and a beta of 0.48. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.93.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The bank reported $0.22 EPS 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 business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $5.51 billion. Equities analysts anticipate that Mizuho Financial Group, Inc. will post 0.75 EPS for the current year.

Institutional Investors Weigh In On Mizuho Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of Mizuho Financial Group in the first quarter valued at approximately $34,000. Grove Bank & Trust acquired a new position in Mizuho Financial Group in the 2nd quarter valued at $49,000. Fifth Third Bancorp raised its holdings in Mizuho Financial Group by 16.2% in the 1st 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 in the last quarter. Global Wealth Strategies & Associates bought a new stake in shares of Mizuho Financial Group during the 3rd quarter valued at $112,000. Finally, Manchester Capital Management LLC lifted its position in shares of Mizuho Financial Group by 689.7% during the 4th quarter. Manchester Capital Management LLC now owns 10,243 shares of the bank's stock valued at $75,000 after acquiring an additional 8,946 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 Japan-based financial services holding company and one of Japan's major banking groups. Through its subsidiaries, the company provides a broad range of services to individuals, businesses, institutional investors and government-related entities.

Its principal businesses include commercial and retail banking, corporate and investment banking, trust banking, securities, asset management, private banking and other financial services. Key subsidiaries include Mizuho Bank, Mizuho Trust & Banking and Mizuho Securities, which offer deposits, lending, payments, capital markets services, investment products, advisory services and trust-related solutions.

Mizuho serves customers throughout Japan and maintains an international network supporting cross-border banking, finance and capital markets activities across the Americas, Europe, the Middle East, Africa and the Asia-Pacific region.

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