Mizuho Financial Group (NYSE:MFG) Stock Breaks Above 200 Day Moving Average – What’s Next?

Mizuho Financial Group, Inc. (NYSE:MFG)’s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $9.90 and traded as high as $10.22. Mizuho Financial Group shares last traded at $10.0650, with a volume of 3,176,676 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Mizuho Financial Group from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating. According to MarketBeat, Mizuho Financial Group presently has a consensus rating of “Strong Buy”.

Mizuho Financial Group Trading Up 1.8%

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.53. The company’s fifty day moving average is $10.76 and its 200-day moving average is $9.91. The firm has a market capitalization of $123.57 billion, a P/E ratio of 12.20, a P/E/G ratio of 0.66 and a beta of 0.48.

Mizuho Financial Group (NYSE:MFG) last announced its earnings results on Thursday, July 30th. The bank reported $0.22 EPS for the quarter, topping the consensus estimate of $0.17 by $0.05. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $5.51 billion. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. As a group, sell-side analysts anticipate that Mizuho Financial Group, Inc. will post 0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mizuho Financial Group

Institutional investors have recently made changes to their positions in the business. Artemis Investment Management LLP increased its stake in Mizuho Financial Group by 84.6% during the third quarter. Artemis Investment Management LLP now owns 7,433,017 shares of the bank’s stock valued at $82,135,000 after acquiring an additional 3,406,701 shares during the period. Quantinno Capital Management LP raised its holdings in Mizuho Financial Group by 58.8% in the 1st quarter. Quantinno Capital Management LP now owns 2,906,954 shares of the bank’s stock valued at $23,081,000 after acquiring an additional 1,076,717 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Mizuho Financial Group by 14.3% in the 2nd quarter. QRG Capital Management Inc. now owns 765,157 shares of the bank’s stock valued at $7,330,000 after acquiring an additional 95,651 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Mizuho Financial Group in the 1st quarter worth approximately $7,014,000. Finally, Quadrant Capital Group LLC lifted its position in shares of Mizuho Financial Group by 0.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 610,651 shares of the bank’s stock worth $6,473,000 after acquiring an additional 4,237 shares during the period. 3.26% of the stock is currently owned by institutional investors.

About Mizuho Financial Group

Mizuho Financial Group, Inc is a Japan-based financial services holding company headquartered in Tokyo. Through its subsidiaries, the group provides banking, trust banking, securities, asset management, and other financial services to individuals, businesses, financial institutions, and public-sector organizations.

Its principal businesses include deposits and lending, payments and settlement services, foreign exchange, investment banking, securities brokerage and underwriting, trust and asset management, wealth management, and corporate advisory services.