Raymond James Reiterates Outperform Rating for John Hancock Financial Opprts Fund (NYSE:BTO)

John Hancock Financial Opprts Fund (NYSE:BTO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James in a research report issued to clients and investors on Friday, Stock Target Advisor reports. They presently have a $6.25 price target on the financial services provider’s stock. Raymond James’ target price would suggest a potential downside of 82.12% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the company. National Bank Financial lowered their target price on John Hancock Financial Opprts Fund from $8.00 to $7.50 in a report on Monday, October 21st. TD Securities increased their target price on John Hancock Financial Opprts Fund from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Thursday.

BTO stock traded down $0.08 during trading hours on Friday, reaching $34.96. 39,300 shares of the stock were exchanged, compared to its average volume of 56,795. The firm’s 50-day moving average is $32.55 and its 200-day moving average is $32.12. John Hancock Financial Opprts Fund has a 12 month low of $25.81 and a 12 month high of $38.20.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Investment Advisory Services LLC grew its holdings in shares of John Hancock Financial Opprts Fund by 1,498.0% in the 3rd quarter. Capital Investment Advisory Services LLC now owns 1,598 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 1,498 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of John Hancock Financial Opprts Fund by 40.3% in the 2nd quarter. Advisor Group Inc. now owns 2,630 shares of the financial services provider’s stock valued at $85,000 after acquiring an additional 755 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of John Hancock Financial Opprts Fund in the 2nd quarter valued at about $129,000. Doliver Advisors LP bought a new position in shares of John Hancock Financial Opprts Fund in the 2nd quarter valued at about $237,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of John Hancock Financial Opprts Fund by 4.1% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,438 shares of the financial services provider’s stock valued at $272,000 after acquiring an additional 333 shares in the last quarter. Institutional investors own 20.40% of the company’s stock.

About John Hancock Financial Opprts Fund

John Hancock Financial Opportunities Fund is a closed-ended equity mutual fund launched and managed by John Hancock Advisers, LLC. It is co-managed by John Hancock Asset Management. The fund invests in the public equity markets across the globe. It seeks to invest in the stocks of companies operating across the financial services sector.

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