Mizuho Financial Group (NYSE:MFG) Posts Earnings Results, Beats Estimates By $1.96 EPS

Mizuho Financial Group (NYSE:MFG) posted its quarterly earnings results on Thursday. The bank reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $1.96, FiscalAI reports. Mizuho Financial Group had a return on equity of 11.90% and a net margin of 16.35%.The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $5.51 billion.

Mizuho Financial Group Stock Performance

Shares of MFG traded up $0.53 during midday trading on Thursday, reaching $10.34. 4,429,420 shares of the stock were exchanged, compared to its average volume of 4,377,008. Mizuho Financial Group has a twelve month low of $5.74 and a twelve month high of $10.78. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.82. The company has a market cap of $127.65 billion, a P/E ratio of 13.60, a PEG ratio of 0.82 and a beta of 0.46. The stock’s 50 day simple moving average is $9.86 and its 200 day simple moving average is $9.02.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Mizuho Financial Group in a research report on Friday, May 1st. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Hedge Funds Weigh In On Mizuho Financial Group

Institutional investors and hedge funds have recently modified their holdings of the business. Morgan Stanley increased its position in Mizuho Financial Group by 5.7% during the fourth quarter. Morgan Stanley now owns 59,084,500 shares of the bank’s stock worth $432,499,000 after acquiring an additional 3,166,984 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Mizuho Financial Group by 0.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,508,417 shares of the bank’s stock valued at $79,941,000 after purchasing an additional 57,806 shares during the period. Bank of America Corp DE increased its holdings in shares of Mizuho Financial Group by 1.7% during the third quarter. Bank of America Corp DE now owns 12,602,417 shares of the bank’s stock worth $84,436,000 after purchasing an additional 216,330 shares during the period. Northern Trust Corp raised its position in shares of Mizuho Financial Group by 1.7% in the third quarter. Northern Trust Corp now owns 10,314,793 shares of the bank’s stock valued at $69,109,000 after buying an additional 167,604 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of Mizuho Financial Group by 4.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 8,174,986 shares of the bank’s stock valued at $59,841,000 after buying an additional 377,963 shares in the last quarter. 3.26% of the stock is currently owned by institutional investors and hedge funds.

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.