Mizuho Financial Group (NYSE:MFG) Reaches New 52-Week High – Time to Buy?

Mizuho Financial Group, Inc. (NYSE:MFG)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $8.65 and last traded at $8.6350, with a volume of 392536 shares. The stock had previously closed at $8.51.

Analyst Ratings Changes

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

Mizuho Financial Group Stock Performance

The company’s fifty day simple moving average is $7.61 and its 200 day simple moving average is $6.83. The firm has a market capitalization of $106.81 billion, a PE ratio of 15.63, a P/E/G ratio of 0.74 and a beta of 0.36. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.96 and a quick ratio of 0.96.

Mizuho Financial Group (NYSE:MFG) last issued its earnings results on Friday, November 28th. The bank reported ($1.61) earnings per share (EPS) for the quarter. Mizuho Financial Group had a net margin of 11.57% and a return on equity of 9.20%. The business had revenue of $7.53 billion for the quarter. As a group, equities research analysts expect that Mizuho Financial Group, Inc. will post 0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MFG. Paradigm Asset Management Co. LLC bought a new position in shares of Mizuho Financial Group in the third quarter valued at approximately $125,000. True Wealth Design LLC purchased a new position in shares of Mizuho Financial Group during the 3rd quarter valued at $28,000. Salomon & Ludwin LLC increased its holdings in shares of Mizuho Financial Group by 2,673.3% in the third quarter. Salomon & Ludwin LLC now owns 4,160 shares of the bank’s stock worth $27,000 after purchasing an additional 4,010 shares during the period. Bessemer Group Inc. raised its position in shares of Mizuho Financial Group by 38.6% in the third quarter. Bessemer Group Inc. now owns 7,901 shares of the bank’s stock worth $54,000 after buying an additional 2,201 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Mizuho Financial Group by 22.9% during the third quarter. Jones Financial Companies Lllp now owns 9,150 shares of the bank’s stock valued at $63,000 after buying an additional 1,704 shares during the period. Hedge funds and other 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.