Mizuho Financial Group (NYSE:MFG) Shares Gap Up - Time to Buy?

Key Points

• Mizuho Financial Group shares jumped 4.7%, opening at $11.02 versus a prior close of $10.56, and last traded near $11.03.
• Analyst sentiment was strongly positive: Weiss Ratings upgraded the stock to “buy (a-),” while MarketBeat reported a consensus “Strong Buy” rating.
• Mizuho exceeded quarterly expectations, reporting $0.22 in EPS versus a $0.17 estimate and $8.55 billion in revenue versus a $5.51 billion consensus forecast.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s stock price gapped up before the market opened on Friday. The stock had previously closed at $10.56, but opened at $11.02. Mizuho Financial Group shares last traded at $11.0330, with a volume of 301,033 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded 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, Mizuho Financial Group currently has a consensus rating of "Strong Buy".

Mizuho Financial Group Trading Up 4.7%

The firm's 50 day moving average is $10.66 and its 200 day moving average is $9.56. 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 $136.54 billion, a PE ratio of 13.48, a PEG ratio of 0.87 and a beta of 0.46.

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

Hedge Funds Weigh In On Mizuho Financial Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. grew its position 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 in the last quarter. Quantinno Capital Management LP raised its position in Mizuho Financial Group by 58.8% during the first quarter. Quantinno Capital Management LP now owns 2,906,954 shares of the bank's stock valued at $23,081,000 after purchasing an additional 1,076,717 shares in the last quarter. XY Capital Ltd bought a new stake in Mizuho Financial Group during the first quarter worth about $2,898,000. Lido Advisors LLC boosted its holdings in shares of Mizuho Financial Group by 435.8% in the 1st quarter. Lido Advisors LLC now owns 226,552 shares of the bank's stock worth $1,799,000 after purchasing an additional 184,271 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new position in shares of Mizuho Financial Group in the 1st quarter worth about $7,014,000. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

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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