Mizuho Financial Group (NYSE:MFG) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Mizuho Financial Group, Inc. (NYSE:MFG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.11 and traded as high as $9.41. Mizuho Financial Group shares last traded at $9.3250, with a volume of 3,902,858 shares changing hands.

Analyst Ratings Changes

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

Mizuho Financial Group Stock Down 0.8%

The stock has a market capitalization of $114.25 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.60 and a beta of 0.46. The company’s fifty day simple moving average is $8.42 and its 200 day simple moving average is $8.13.

Hedge Funds Weigh In On Mizuho Financial Group

Several institutional investors and hedge funds have recently made changes to their positions in MFG. Natixis Advisors LLC grew its position in shares of Mizuho Financial Group by 590.7% in the fourth quarter. Natixis Advisors LLC now owns 16,560,891 shares of the bank’s stock valued at $121,226,000 after purchasing an additional 14,163,328 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Mizuho Financial Group in the third quarter valued at approximately $52,058,000. Morgan Stanley grew its position in shares of Mizuho Financial Group by 5.7% in the fourth quarter. Morgan Stanley now owns 59,084,500 shares of the bank’s stock valued at $432,499,000 after purchasing an additional 3,166,984 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Mizuho Financial Group by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 16,266,878 shares of the bank’s stock valued at $119,074,000 after purchasing an additional 1,716,932 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Mizuho Financial Group in the fourth quarter valued at approximately $11,335,000. Institutional investors and hedge funds own 3.26% of the company’s stock.

About Mizuho Financial Group

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.