Mizuho Financial Group (NYSE:MFG) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Mizuho Financial Group shares crossed above their 200-day moving average, reaching $10.80 and last trading at $10.63, compared with the average of $9.31.
• Analyst sentiment is strongly positive: Weiss Ratings upgraded the stock to “buy (a-),” while the consensus rating is “Strong Buy.”
• 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 crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.31 and traded as high as $10.80. Mizuho Financial Group shares last traded at $10.63, with a volume of 2,773,865 shares trading hands.

Wall Street Analyst Weigh In

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

Mizuho Financial Group Stock Performance

The stock has a market cap of $131.29 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45. 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 business has a 50 day moving average price of $10.31 and a two-hundred day moving average price of $9.31.

Mizuho Financial Group (NYSE:MFG - Get Free Report) last issued its earnings results on Thursday, July 30th. The bank reported $0.22 EPS for the quarter, topping the consensus estimate 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 company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $5.51 billion. As a group, equities research analysts forecast that Mizuho Financial Group, Inc. will post 0.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Mizuho Financial Group

Hedge funds have recently modified their holdings of the company. Quantinno Capital Management LP lifted its holdings in Mizuho Financial Group by 58.8% in the 1st quarter. Quantinno Capital Management LP now owns 2,906,954 shares of the bank's stock worth $23,081,000 after buying an additional 1,076,717 shares during the period. XY Capital Ltd purchased a new position in shares of Mizuho Financial Group during the first quarter valued at approximately $2,898,000. Lido Advisors LLC raised its holdings in shares of Mizuho Financial Group by 435.8% during the first quarter. Lido Advisors LLC now owns 226,552 shares of the bank's stock valued at $1,799,000 after acquiring an additional 184,271 shares in the last quarter. QRG Capital Management Inc. raised its holdings in shares of Mizuho Financial Group by 40.2% during the fourth quarter. QRG Capital Management Inc. now owns 557,846 shares of the bank's stock valued at $4,083,000 after acquiring an additional 159,985 shares in the last quarter. Finally, WCM Investment Management LLC purchased a new stake in Mizuho Financial Group in the first quarter worth $7,014,000. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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