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

Zacks Investment Research downgraded shares of Mizuho Financial Group (NYSE:MFGGet Rating) from a hold rating to a sell rating in a report released on Tuesday morning, 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. “

A number of other research firms also recently issued reports on MFG. StockNews.com initiated coverage on Mizuho Financial Group in a research note on Thursday, March 31st. They issued a hold rating on the stock. The Goldman Sachs Group initiated coverage on shares of Mizuho Financial Group in a research report on Wednesday, April 27th. They issued a neutral rating on the stock. Finally, Bank of America upgraded shares of Mizuho Financial Group from a neutral rating to a buy rating in a research report on Monday, April 11th.

Shares of MFG stock opened at $2.36 on Tuesday. The stock has a market capitalization of $29.92 billion, a price-to-earnings ratio of 5.49, a price-to-earnings-growth ratio of 0.74 and a beta of 0.54. Mizuho Financial Group has a 12-month low of $2.30 and a 12-month high of $3.21. The stock’s 50-day moving average price is $2.55 and its 200-day moving average price is $2.63.

Institutional investors have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in Mizuho Financial Group by 8.4% during the second quarter. Bank of America Corp DE now owns 373,620 shares of the bank’s stock worth $1,064,000 after buying an additional 29,101 shares during the period. Wells Fargo & Company MN grew its holdings in Mizuho Financial Group by 142.3% during the 2nd quarter. Wells Fargo & Company MN now owns 12,460 shares of the bank’s stock valued at $36,000 after purchasing an additional 7,318 shares during the last quarter. Ieq Capital LLC purchased a new stake in Mizuho Financial Group in the 3rd quarter worth about $44,000. JustInvest LLC boosted its position in shares of Mizuho Financial Group by 27.4% during the third quarter. JustInvest LLC now owns 132,114 shares of the bank’s stock valued at $375,000 after buying an additional 28,403 shares during the period. Finally, Boston Private Wealth LLC grew its stake in shares of Mizuho Financial Group by 9.5% during the third quarter. Boston Private Wealth LLC now owns 228,321 shares of the bank’s stock valued at $648,000 after buying an additional 19,777 shares during the last quarter. Hedge funds and other institutional investors own 1.66% of the company’s stock.

About Mizuho Financial Group (Get Rating)

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 five segments: Retail & Business Banking Company, Corporate & Institutional Company, Global Corporate Company, Global Markets Company, and Asset Management Company.

Further Reading

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