Mizuho Financial Group (NYSE:MFG) Share Price Passes Above 200-Day Moving Average – Here’s Why

Mizuho Financial Group, Inc. (NYSE:MFG) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.19 and traded as high as $9.33. Mizuho Financial Group shares last traded at $9.2950, with a volume of 2,365,416 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Mizuho Financial Group in a research report on Friday, May 1st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Mizuho Financial Group Trading Up 2.1%

The business has a 50-day moving average price of $8.59 and a 200 day moving average price of $8.23. The stock has a market cap of $117.02 billion, a PE ratio of 12.47, a PEG ratio of 0.60 and a beta of 0.46.

Institutional Trading of Mizuho Financial Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Paradigm Asset Management Co. LLC bought a new stake in shares of Mizuho Financial Group during the 3rd quarter valued at $125,000. V Square Quantitative Management LLC bought a new stake in shares of Mizuho Financial Group during the 1st quarter valued at $34,000. Parkside Financial Bank & Trust raised its stake in shares of Mizuho Financial Group by 72.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,825 shares during the period. Brown Brothers Harriman & Co. raised its stake in shares of Mizuho Financial Group by 351.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank’s stock valued at $33,000 after purchasing an additional 3,522 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in shares of Mizuho Financial Group during the 4th quarter valued at $49,000. 3.26% of the stock is currently owned by institutional investors.

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.