Manulife Financial (TSE:MFC) PT Raised to C$34.00 at National Bankshares

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by National Bankshares from C$33.00 to C$34.00 in a research note published on Friday, BayStreet.CA reports. They currently have a sector perform rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Evercore upped their target price on Manulife Financial from C$30.00 to C$36.00 in a report on Tuesday, February 20th. Scotiabank upped their target price on Manulife Financial from C$35.00 to C$40.00 and gave the stock an outperform rating in a report on Friday, February 16th. Cormark upgraded Manulife Financial from a market perform rating to a buy rating and upped their target price for the stock from C$33.00 to C$36.00 in a report on Friday, February 16th. Veritas Investment Research reiterated a reduce rating on shares of Manulife Financial in a report on Friday, February 16th. Finally, TD Securities lowered Manulife Financial from an action list buy rating to a buy rating and boosted their price target for the stock from C$35.00 to C$37.00 in a research report on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Manulife Financial currently has an average rating of Moderate Buy and a consensus price target of C$36.40.

Manulife Financial Price Performance

MFC opened at C$32.27 on Friday. The business has a fifty day moving average of C$32.58 and a 200 day moving average of C$29.40. Manulife Financial has a 52-week low of C$23.69 and a 52-week high of C$34.05. The company has a quick ratio of 2.58, a current ratio of 3.79 and a debt-to-equity ratio of 45.69. The stock has a market cap of C$58.41 billion, a P/E ratio of 12.36, a PEG ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, topping the consensus estimate of C$0.84 by C$0.08. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. The business had revenue of C$14.92 billion during the quarter, compared to analysts’ expectations of C$10.24 billion. As a group, sell-side analysts anticipate that Manulife Financial will post 3.6893764 EPS for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Wednesday, February 28th were given a dividend of $0.40 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 4.96%. The ex-dividend date was Tuesday, February 27th. Manulife Financial’s dividend payout ratio is currently 61.30%.

Insider Activity at Manulife Financial

In related news, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$337,231.44. Also, Director Brooks Tingle sold 3,317 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. 0.02% of the stock is currently owned by corporate insiders.

Manulife Financial Company Profile

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.