Mizuho Financial Group (NYSE:MFG) Hits New 12-Month High – Still a Buy?

Mizuho Financial Group, Inc. (NYSE:MFG)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $10.36 and last traded at $10.3650, with a volume of 2555412 shares traded. The stock had previously closed at $9.76.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of Mizuho Financial Group in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Mizuho Financial Group Stock Performance

The company has a 50-day moving average of $8.97 and a 200-day moving average of $8.46. The stock has a market cap of $127.28 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.63 and a beta of 0.45.

Hedge Funds Weigh In On Mizuho Financial Group

A number of large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Mizuho Financial Group by 72.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,825 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Mizuho Financial Group by 351.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank’s stock worth $33,000 after acquiring an additional 3,522 shares during the period. V Square Quantitative Management LLC purchased a new position in Mizuho Financial Group during the first quarter worth about $34,000. Kestra Advisory Services LLC purchased a new position in Mizuho Financial Group during the fourth quarter worth about $49,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Mizuho Financial Group in the fourth quarter valued at about $54,000. 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.