Mizuho Financial Group (NYSE:MFG) Hits New 12-Month High – Here’s Why

Mizuho Financial Group, Inc. (NYSE:MFG) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $9.86 and last traded at $9.6550, with a volume of 348070 shares. The stock had previously closed at $9.61.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Mizuho Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, February 3rd. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Mizuho Financial Group currently has an average rating of “Moderate Buy”.

Mizuho Financial Group Stock Performance

The stock has a market capitalization of $120.98 billion, a PE ratio of 17.08, a PEG ratio of 0.76 and a beta of 0.37. The business’s 50 day moving average is $7.90 and its 200 day moving average is $7.01. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 1.72.

Mizuho Financial Group (NYSE:MFG) last announced its earnings results on Monday, February 2nd. The bank reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Mizuho Financial Group had a return on equity of 9.23% and a net margin of 12.31%.The business had revenue of $6.16 billion during the quarter, compared to analyst estimates of $5.58 billion. On average, equities research analysts predict that Mizuho Financial Group, Inc. will post 0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Riversedge Advisors LLC boosted its position in Mizuho Financial Group by 6.4% in the 4th quarter. Riversedge Advisors LLC now owns 21,151 shares of the bank’s stock valued at $155,000 after buying an additional 1,279 shares during the period. Hilltop Holdings Inc. raised its stake in shares of Mizuho Financial Group by 8.5% during the third quarter. Hilltop Holdings Inc. now owns 20,052 shares of the bank’s stock valued at $134,000 after acquiring an additional 1,568 shares in the last quarter. Aaron Wealth Advisors LLC raised its stake in shares of Mizuho Financial Group by 1.5% during the third quarter. Aaron Wealth Advisors LLC now owns 107,860 shares of the bank’s stock valued at $723,000 after acquiring an additional 1,569 shares in the last quarter. Aprio Wealth Management LLC boosted its holdings in shares of Mizuho Financial Group by 4.6% in the fourth quarter. Aprio Wealth Management LLC now owns 37,338 shares of the bank’s stock valued at $273,000 after purchasing an additional 1,650 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Mizuho Financial Group by 22.9% in the third quarter. Jones Financial Companies Lllp now owns 9,150 shares of the bank’s stock worth $63,000 after purchasing an additional 1,704 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors.

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.