Mizuho Financial Group (NYSE:MFG) Reaches New 1-Year High – Here’s Why

Shares of Mizuho Financial Group, Inc. (NYSE:MFG) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $9.86 and last traded at $9.6550, with a volume of 348070 shares. The stock had previously closed at $9.61.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Mizuho Financial Group from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Mizuho Financial Group currently has an average rating of “Moderate Buy”.

Mizuho Financial Group Trading Up 1.5%

The company has a 50 day simple moving average of $8.01 and a 200 day simple moving average of $7.06. The company has a market capitalization of $123.65 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 0.77 and a beta of 0.37. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.96 and a current ratio of 0.97.

Mizuho Financial Group (NYSE:MFG) last issued its quarterly earnings results on Monday, February 2nd. The bank reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. Mizuho Financial Group had a return on equity of 9.23% and a net margin of 12.31%.The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.58 billion. Analysts anticipate that Mizuho Financial Group, Inc. will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On Mizuho Financial Group

A number of hedge funds have recently modified their holdings of MFG. Natixis Advisors LLC boosted its position in Mizuho Financial Group by 590.7% during the fourth quarter. Natixis Advisors LLC now owns 16,560,891 shares of the bank’s stock worth $121,226,000 after acquiring an additional 14,163,328 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Mizuho Financial Group during the 3rd quarter worth approximately $52,058,000. Goldman Sachs Group Inc. boosted its holdings in shares of Mizuho Financial Group by 11.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 16,266,878 shares of the bank’s stock worth $119,074,000 after purchasing an additional 1,716,932 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Mizuho Financial Group in the fourth quarter valued at approximately $11,335,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Mizuho Financial Group in the third quarter valued at approximately $7,251,000. 3.26% of the stock is currently owned by institutional investors and hedge funds.

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.