Mizuho Financial Group (NYSE:MFG) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Mizuho Financial Group, Inc. (NYSE:MFG) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.47 and traded as high as $7.36. Mizuho Financial Group shares last traded at $7.34, with a volume of 2,159,975 shares changing hands.

Analysts Set New Price Targets

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

Mizuho Financial Group Trading Down 0.3%

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 firm has a market cap of $91.22 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.81 and a beta of 0.36. The company has a fifty day moving average price of $7.02 and a 200-day moving average price of $6.47.

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

Hedge Funds Weigh In On Mizuho Financial Group

Several institutional investors have recently made changes to their positions in the company. Salomon & Ludwin LLC lifted its stake in shares of Mizuho Financial Group by 2,673.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 4,160 shares of the bank’s stock valued at $27,000 after purchasing an additional 4,010 shares during the period. True Wealth Design LLC purchased a new position in Mizuho Financial Group in the third quarter valued at $28,000. Bessemer Group Inc. increased its holdings in Mizuho Financial Group by 38.6% in the third quarter. Bessemer Group Inc. now owns 7,901 shares of the bank’s stock valued at $54,000 after buying an additional 2,201 shares in the last quarter. Jackson Thornton Wealth Management LLC acquired a new position in shares of Mizuho Financial Group in the second quarter worth about $59,000. Finally, Brighton Jones LLC raised its position in shares of Mizuho Financial Group by 19.3% in the fourth quarter. Brighton Jones LLC now owns 12,343 shares of the bank’s stock worth $60,000 after acquiring an additional 1,998 shares during the period. 3.26% of the stock is owned by hedge funds and other 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.