Mizuho Financial Group (NYSE:MFG) Sees Strong Trading Volume – Here’s Why

Shares of Mizuho Financial Group, Inc. (NYSE:MFG) saw strong trading volume on Tuesday . 7,876,685 shares were traded during mid-day trading, an increase of 194% from the previous session’s volume of 2,681,406 shares.The stock last traded at $6.7450 and had previously closed at $6.71.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Zacks Research cut Mizuho Financial Group from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Mizuho Financial Group in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Mizuho Financial Group from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Mizuho Financial Group Stock Up 0.4%

The stock has a market capitalization of $84.23 billion, a P/E ratio of 14.04, a PEG ratio of 0.80 and a beta of 0.34. The stock has a 50 day moving average price of $6.56 and a 200-day moving average price of $5.99. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.96 and a quick ratio of 0.96.

Institutional Trading of Mizuho Financial Group

Institutional investors have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in shares of Mizuho Financial Group by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,602,728 shares of the bank’s stock worth $8,831,000 after acquiring an additional 59,671 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Mizuho Financial Group by 17.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,121,350 shares of the bank’s stock worth $6,179,000 after purchasing an additional 169,243 shares during the period. American Century Companies Inc. raised its holdings in Mizuho Financial Group by 3.5% in the first quarter. American Century Companies Inc. now owns 2,845,350 shares of the bank’s stock worth $15,678,000 after purchasing an additional 95,035 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Mizuho Financial Group in the first quarter worth $2,514,000. Finally, Allianz SE purchased a new position in Mizuho Financial Group during the first quarter valued at $3,251,000. Hedge funds and other institutional investors own 3.26% of the company’s stock.

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.