Mizuho Financial Group (NYSE:MFG) Stock Price Breaks Below 200-Day Moving Average - Here's Why

Key Points

• Mizuho shares slipped below their 200-day moving average of $9.55, reaching an intraday low of $9.53 and last trading at $9.545. The stock’s 50-day average was $10.58.
• Weiss Ratings lowered its rating from “Buy (A)” to “Buy (B+),” while the overall analyst rating remains “Buy.”
• Several institutional investors increased their holdings in the third quarter, though institutions collectively own 3.26% of the stock.

Mizuho Financial Group, Inc. (NYSE:MFG - Get Free Report)'s share price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $9.55 and traded as low as $9.53. Mizuho Financial Group shares last traded at $9.5450, with a volume of 3,486,608 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Mizuho Financial Group from a "buy (a)" rating to a "buy (b+)" rating in a research note on Friday, October 23rd. One investment analyst has rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of "Buy".

Mizuho Financial Group Stock Performance

The company's 50 day moving average price is $10.58 and its 200-day moving average price is $9.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $117.89 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.62 and a beta of 0.57.

Institutional Investors Weigh In On Mizuho Financial Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Mizuho Financial Group by 4.7% during the third quarter. Brighton Jones LLC now owns 36,670 shares of the bank's stock valued at $405,000 after purchasing an additional 1,634 shares during the period. Ethic Inc. grew its holdings in shares of Mizuho Financial Group by 13.4% in the third quarter. Ethic Inc. now owns 558,405 shares of the bank's stock worth $6,170,000 after purchasing an additional 66,011 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Mizuho Financial Group by 4.1% in the third quarter. Parallel Advisors LLC now owns 72,868 shares of the bank's stock worth $805,000 after purchasing an additional 2,893 shares during the last quarter. Abacus Wealth Partners LLC increased its stake in shares of Mizuho Financial Group by 5.3% in the third quarter. Abacus Wealth Partners LLC now owns 23,968 shares of the bank's stock worth $265,000 after buying an additional 1,200 shares during the period. Finally, May Hill Capital LLC increased its stake in shares of Mizuho Financial Group by 17.6% in the third quarter. May Hill Capital LLC now owns 13,703 shares of the bank's stock worth $151,000 after buying an additional 2,050 shares during the period. 3.26% of the stock is currently owned by institutional investors.

About Mizuho Financial Group

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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