Mizuho Financial Group (NYSE:MFG) Issues Earnings Results, Beats Estimates By $0.02 EPS

Mizuho Financial Group (NYSE:MFG) released its earnings results on Monday. The bank reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02, Zacks reports. The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $5.58 billion. Mizuho Financial Group had a return on equity of 9.20% and a net margin of 11.57%.

Mizuho Financial Group Stock Performance

Mizuho Financial Group stock traded up $0.06 during trading hours on Tuesday, hitting $8.90. The company had a trading volume of 3,625,977 shares, compared to its average volume of 3,994,717. Mizuho Financial Group has a one year low of $4.04 and a one year high of $9.00. The firm has a market cap of $110.54 billion, a PE ratio of 16.17, a PEG ratio of 0.77 and a beta of 0.37. The firm has a 50-day moving average of $7.73 and a 200 day moving average of $6.91. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (a-)” rating on shares of Mizuho Financial Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy”.

Hedge Funds Weigh In On Mizuho Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in shares of Mizuho Financial Group by 0.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 14,508,417 shares of the bank’s stock worth $79,941,000 after buying an additional 57,806 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Mizuho Financial Group by 1.7% in the 3rd quarter. Bank of America Corp DE now owns 12,602,417 shares of the bank’s stock valued at $84,436,000 after purchasing an additional 216,330 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Mizuho Financial Group by 1.7% during the 3rd quarter. Northern Trust Corp now owns 10,314,793 shares of the bank’s stock valued at $69,109,000 after purchasing an additional 167,604 shares during the last quarter. Creative Planning grew its holdings in shares of Mizuho Financial Group by 16.2% during the 3rd quarter. Creative Planning now owns 1,282,742 shares of the bank’s stock valued at $8,594,000 after purchasing an additional 178,410 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Mizuho Financial Group by 65.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,120,375 shares of the bank’s stock worth $7,507,000 after purchasing an additional 442,930 shares in the last quarter. Institutional investors own 3.26% of the company’s stock.

About Mizuho Financial Group

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.