Mizuho Financial Group (NYSE:MFG) Reaches New 1-Year High Following Earnings Beat

Mizuho Financial Group, Inc. (NYSE:MFG)’s stock price hit a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $8.85 and last traded at $8.84, with a volume of 1545760 shares. The stock had previously closed at $8.63.

The bank reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Mizuho Financial Group had a return on equity of 9.20% and a net margin of 11.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (a-)” rating on shares of Mizuho Financial Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Mizuho Financial Group

A number of hedge funds and other institutional investors have recently modified their holdings of MFG. Salomon & Ludwin LLC raised its stake in 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 buying an additional 4,010 shares in the last quarter. True Wealth Design LLC bought a new stake in Mizuho Financial Group during the third quarter valued at about $28,000. Bessemer Group Inc. grew its stake 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 purchasing an additional 2,201 shares during the last quarter. Jackson Thornton Wealth Management LLC bought a new position in Mizuho Financial Group in the second quarter worth about $59,000. Finally, Fifth Third Bancorp raised its holdings in Mizuho Financial Group by 45.2% in the fourth quarter. Fifth Third Bancorp now owns 8,239 shares of the bank’s stock worth $60,000 after purchasing an additional 2,565 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors.

Mizuho Financial Group Stock Performance

The business’s 50-day moving average price is $7.69 and its 200-day moving average price is $6.89. 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 stock has a market cap of $109.30 billion, a PE ratio of 15.98, a P/E/G ratio of 0.77 and a beta of 0.37.

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.