Mizuho Financial Group (NYSE:MFG) Rating Lowered to Hold at Zacks Investment Research

Mizuho Financial Group (NYSE:MFG) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “THE MIZUHO FINANCIAL GROUP is a bank holding company which operates and manages its banks, long-term credit banks, specialized securities companies and other companies which the Company may own by law as its subsidiaries, and engages in business appertaining to the management and operation of such companies. “

MFG opened at $2.90 on Thursday. The company has a 50 day moving average of $2.88 and a 200 day moving average of $2.95. The company has a market cap of $36.77 billion, a PE ratio of 5.58 and a beta of 0.68. Mizuho Financial Group has a 12 month low of $2.39 and a 12 month high of $3.21. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.10.

Mizuho Financial Group (NYSE:MFG) last released its quarterly earnings data on Friday, July 30th. The bank reported $0.16 EPS for the quarter. Mizuho Financial Group had a net margin of 19.10% and a return on equity of 4.52%. The company had revenue of $6.73 billion during the quarter. Research analysts forecast that Mizuho Financial Group will post 0.45 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in MFG. Parametric Portfolio Associates LLC boosted its stake in shares of Mizuho Financial Group by 0.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 19,398,547 shares of the bank’s stock valued at $55,286,000 after purchasing an additional 115,520 shares in the last quarter. Northern Trust Corp boosted its stake in Mizuho Financial Group by 5.9% during the first quarter. Northern Trust Corp now owns 11,186,340 shares of the bank’s stock worth $32,552,000 after acquiring an additional 625,234 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Mizuho Financial Group by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 5,826,211 shares of the bank’s stock worth $16,954,000 after acquiring an additional 580,305 shares in the last quarter. BlackRock Inc. raised its holdings in Mizuho Financial Group by 12.3% in the second quarter. BlackRock Inc. now owns 3,708,866 shares of the bank’s stock worth $10,570,000 after buying an additional 406,778 shares during the last quarter. Finally, FMR LLC raised its holdings in Mizuho Financial Group by 38.0% in the second quarter. FMR LLC now owns 860,153 shares of the bank’s stock worth $2,451,000 after buying an additional 236,969 shares during the last quarter. 0.42% of the stock is currently owned by institutional investors and hedge funds.

About Mizuho Financial Group

Mizuho Financial Group, Inc operates as a holding company which engages in the provision of financial services such as banking, trust banking, securities, and other businesses. It operates through the following segments: Mizuho Bank Ltd. (MHKB), Mizuho Trust & Banking Co, Ltd. (MHTB), and Mizuho Securities Co, Ltd.

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