Mizuho Financial Group (NYSE:MFG) Reaches New 12-Month High – Still a Buy?

Mizuho Financial Group, Inc. (NYSE:MFG)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $6.87 and last traded at $6.8450, with a volume of 37149 shares traded. The stock had previously closed at $6.80.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MFG. Wall Street Zen raised shares of Mizuho Financial Group from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Weiss Ratings reissued a “buy (b+)” rating on shares of Mizuho Financial Group in a report on Wednesday, October 8th. Finally, Zacks Research downgraded Mizuho Financial Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mizuho Financial Group presently has an average rating of “Moderate Buy”.

Mizuho Financial Group Trading Up 3.8%

The firm’s 50-day simple moving average is $6.59 and its 200 day simple moving average is $6.03. The stock has a market cap of $88.04 billion, a P/E ratio of 14.68, a PEG ratio of 0.80 and a beta of 0.34. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.21.

Mizuho Financial Group (NYSE:MFG) last issued its quarterly earnings data on Friday, November 14th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03. Mizuho Financial Group had a return on equity of 8.48% and a net margin of 10.16%.The business had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.74 billion. As a group, equities research 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 and other institutional investors have recently modified their holdings of MFG. Paradigm Asset Management Co. LLC acquired a new position in Mizuho Financial Group during the 3rd quarter valued at about $125,000. True Wealth Design LLC acquired a new position in shares of Mizuho Financial Group during the third quarter valued at approximately $28,000. Salomon & Ludwin LLC raised its holdings in Mizuho Financial Group by 2,673.3% during the third quarter. Salomon & Ludwin LLC now owns 4,160 shares of the bank’s stock worth $27,000 after purchasing an additional 4,010 shares in the last quarter. Brooklyn Investment Group lifted its position in Mizuho Financial Group by 166.3% in the first quarter. Brooklyn Investment Group now owns 5,499 shares of the bank’s stock worth $30,000 after purchasing an additional 3,434 shares during the period. Finally, Allworth Financial LP boosted its stake in Mizuho Financial Group by 81.8% during the 1st quarter. Allworth Financial LP now owns 6,611 shares of the bank’s stock valued at $36,000 after purchasing an additional 2,975 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors.

About Mizuho Financial Group

Mizuho Financial Group, Inc, together with its subsidiaries, engages in banking, trust, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally. It operates through Retail & Business Banking Company, Corporate & Institutional Company, Global Corporate Company, Global Markets Company, Asset Management Company, and Others segments.