Mizuho Financial Group (NYSE:MFG) Hits New 1-Year High – Time to Buy?

Mizuho Financial Group, Inc. (NYSE:MFG)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $11.49 and last traded at $11.4460, with a volume of 304354 shares traded. The stock had previously closed at $11.06.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Mizuho Financial Group from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has a consensus rating of “Strong Buy”.

Mizuho Financial Group Stock Up 3.4%

The firm’s 50-day moving average price is $10.53 and its 200-day moving average price is $9.39. The company has a market cap of $141.23 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.87 and a beta of 0.46. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.93 and a quick ratio of 0.93.

Mizuho Financial Group (NYSE:MFG) last posted its earnings results on Thursday, July 30th. The bank reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. Mizuho Financial Group had a net margin of 17.15% and a return on equity of 12.82%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $5.51 billion. Sell-side analysts forecast that Mizuho Financial Group, Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust boosted its position in shares of Mizuho Financial Group by 72.9% in 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 period. Brown Brothers Harriman & Co. grew its stake in shares of 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 buying an additional 3,522 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Mizuho Financial Group during the 1st quarter valued at about $34,000. Grove Bank & Trust purchased a new stake in shares of Mizuho Financial Group during the 2nd quarter valued at about $49,000. Finally, Kestra Advisory Services LLC acquired a new position in Mizuho Financial Group during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 3.26% of the company’s stock.

Mizuho Financial Group Company Profile

Mizuho Financial Group, Inc is a Japan-based financial services group headquartered in Tokyo. Established in 2003 through the integration of Dai-Ichi Kangyo Bank, Fuji Bank and Industrial Bank of Japan, the group operates through a range of financial businesses serving individuals, companies, financial institutions and public-sector organizations.

Its principal activities include commercial and investment banking, trust banking, securities services, asset management, leasing, research and consulting.