National Bank Financial Raises Manulife Financial (NYSE:MFC) Price Target to $28.00

Manulife Financial (NYSE:MFC) (TSE:MFC) had its price target lifted by National Bank Financial from $26.00 to $28.00 in a report released on Friday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the financial services provider’s stock. National Bank Financial’s price target points to a potential upside of 41.84% from the company’s current price. National Bank Financial also issued estimates for Manulife Financial’s FY2020 earnings at $2.36 EPS.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity lifted their target price on shares of Manulife Financial from $33.00 to $34.00 in a report on Friday. ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 23rd. CIBC lifted their target price on shares of Manulife Financial from $27.00 to $29.00 in a report on Friday. Finally, BMO Capital Markets lifted their target price on shares of Manulife Financial from $32.00 to $33.00 in a report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $29.00.

Shares of MFC opened at $19.74 on Friday. The company has a market capitalization of $40.66 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43. Manulife Financial has a one year low of $13.33 and a one year high of $20.08. The company’s fifty day moving average price is $18.41 and its 200 day moving average price is $17.85.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.55 by $0.21. The firm had revenue of $17.14 billion for the quarter. Manulife Financial had a net margin of 9.36% and a return on equity of 13.27%. During the same quarter last year, the business earned $0.75 EPS. As a group, equities research analysts forecast that Manulife Financial will post 2.23 EPS for the current year.

Several large investors have recently bought and sold shares of MFC. Enterprise Trust & Investment Co bought a new position in shares of Manulife Financial during the 2nd quarter worth about $25,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Manulife Financial during the 2nd quarter worth about $30,000. Cullen Frost Bankers Inc. increased its holdings in shares of Manulife Financial by 72.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,900 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 800 shares during the period. Compagnie Lombard Odier SCmA bought a new position in shares of Manulife Financial during the 2nd quarter worth about $38,000. Finally, Manchester Financial Inc. bought a new position in shares of Manulife Financial during the 2nd quarter worth about $41,000. Institutional investors own 42.41% of the company’s stock.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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