Mizuho Financial Group (NYSE:MFG) Hits New 1-Year High on Better-Than-Expected Earnings

Mizuho Financial Group, Inc. (NYSE:MFG) hit a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $8.85 and last traded at $8.84, with a volume of 1545760 shares trading hands. The stock had previously closed at $8.63.

The bank reported ($1.61) earnings per share for the quarter. The business had revenue of $7.53 billion during the quarter. 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 reaffirmed a “buy (a-)” rating on shares of Mizuho Financial Group in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy”.

Hedge Funds Weigh In On Mizuho Financial Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC increased its holdings in Mizuho Financial Group by 2,673.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 4,160 shares of the bank’s stock valued at $27,000 after acquiring an additional 4,010 shares during the last quarter. True Wealth Design LLC bought a new stake in shares of Mizuho Financial Group in the third quarter worth about $28,000. Bessemer Group Inc. lifted its position in shares of Mizuho Financial Group by 38.6% in the third quarter. Bessemer Group Inc. now owns 7,901 shares of the bank’s stock worth $54,000 after buying an additional 2,201 shares in the last quarter. Jackson Thornton Wealth Management LLC bought a new position in Mizuho Financial Group during the second quarter valued at approximately $59,000. Finally, Fifth Third Bancorp grew its holdings in Mizuho Financial Group by 45.2% during the 4th quarter. Fifth Third Bancorp now owns 8,239 shares of the bank’s stock valued at $60,000 after buying an additional 2,565 shares in the last quarter. Institutional investors own 3.26% of the company’s stock.

Mizuho Financial Group Trading Up 2.3%

The firm has a market cap of $109.67 billion, a P/E ratio of 16.05, a P/E/G ratio of 0.77 and a beta of 0.37. The stock has a 50 day simple moving average of $7.73 and a 200-day simple moving average of $6.91. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.27.

Mizuho Financial Group Company Profile

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.