Mizuho Financial Group (NYSE:MFG) Reaches New 1-Year High – Still a Buy?

Mizuho Financial Group, Inc. (NYSE:MFG)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $10.83 and last traded at $10.83, with a volume of 290382 shares trading hands. The stock had previously closed at $10.34.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b+)” rating on shares of Mizuho Financial Group in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Mizuho Financial Group has a consensus rating of “Moderate Buy”.

Mizuho Financial Group Stock Performance

The stock has a market cap of $131.85 billion, a price-to-earnings ratio of 13.02, a P/E/G ratio of 0.87 and a beta of 0.45. 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 firm has a fifty day simple moving average of $10.01 and a 200-day simple moving average of $9.11.

Mizuho Financial Group (NYSE:MFG) last released its earnings results on Thursday, July 30th. The bank reported $0.22 EPS for the quarter, beating the consensus estimate of $0.17 by $0.05. Mizuho Financial Group had a return on equity of 12.82% and a net margin of 17.15%.The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $5.51 billion. Analysts forecast that Mizuho Financial Group, Inc. will post 0.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Parkside Financial Bank & Trust raised its stake in shares of Mizuho Financial Group by 72.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,330 shares of the bank’s stock worth $32,000 after buying an additional 1,825 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Mizuho Financial Group by 351.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 4,524 shares of the bank’s stock valued at $33,000 after acquiring an additional 3,522 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Mizuho Financial Group during the 1st quarter worth $34,000. Grove Bank & Trust acquired a new stake in Mizuho Financial Group during the 2nd quarter worth $49,000. Finally, Kestra Advisory Services LLC acquired a new stake in Mizuho Financial Group during the 4th quarter worth $49,000. 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.