Mizuho Financial Group (NYSE:MFG) Sets New 52-Week High After Better-Than-Expected Earnings

Mizuho Financial Group, Inc. (NYSE:MFG)’s stock price reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The company traded as high as $8.85 and last traded at $8.84, with a volume of 1545760 shares trading hands. The stock had previously closed at $8.63.

The bank reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. Mizuho Financial Group had a net margin of 11.57% and a return on equity of 9.20%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Mizuho Financial Group in the 3rd quarter valued at $2,642,000. HB Wealth Management LLC raised its holdings in shares of Mizuho Financial Group by 22.1% in the second quarter. HB Wealth Management LLC now owns 41,444 shares of the bank’s stock valued at $230,000 after buying an additional 7,497 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mizuho Financial Group during the second quarter worth about $2,005,000. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Mizuho Financial Group by 36.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,205 shares of the bank’s stock worth $101,000 after buying an additional 4,862 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Mizuho Financial Group by 65.1% during the 2nd quarter. Corient Private Wealth LLC now owns 244,990 shares of the bank’s stock valued at $1,362,000 after acquiring an additional 96,566 shares during the last quarter. 3.26% of the stock is currently owned by hedge funds and other institutional investors.

Mizuho Financial Group Stock Up 1.9%

The firm has a 50 day simple moving average of $7.69 and a two-hundred day simple moving average of $6.89. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27. The company has a market capitalization of $109.30 billion, a PE ratio of 15.98, a P/E/G ratio of 0.77 and a beta of 0.37.

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.