Manulife Financial (TSE:MFC) Upgraded to Strong-Buy by Dbs Bank

Dbs Bank upgraded shares of Manulife Financial (TSE:MFC) (NYSE:MFC) to a strong-buy rating in a report published on Thursday, Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. TD Securities raised their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, July 12th. BMO Capital Markets raised their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. Jefferies Financial Group decreased their price target on shares of Manulife Financial from C$43.00 to C$42.00 in a research note on Thursday, July 18th. National Bank Financial raised Manulife Financial from a sector perform market weight rating to an outperform market weight rating in a report on Wednesday, May 8th. Finally, National Bankshares increased their price objective on Manulife Financial from C$38.00 to C$43.00 and gave the company an outperform rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of C$38.64.

Manulife Financial Trading Up 1.3 %

Shares of TSE:MFC traded up C$0.43 during mid-day trading on Thursday, reaching C$34.44. The stock had a trading volume of 6,059,671 shares, compared to its average volume of 6,368,004. The firm has a market cap of C$61.99 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 12.56 and a beta of 1.10. The firm has a 50 day simple moving average of C$35.69 and a two-hundred day simple moving average of C$33.77. The company has a current ratio of 29.14, a quick ratio of 2.58 and a debt-to-equity ratio of 48.44. Manulife Financial has a twelve month low of C$23.69 and a twelve month high of C$37.46.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, May 8th. The financial services provider reported C$0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.90 by C$0.04. Manulife Financial had a return on equity of 10.48% and a net margin of 18.29%. The business had revenue of C$12.80 billion during the quarter, compared to analysts’ expectations of C$12.13 billion. On average, research analysts predict that Manulife Financial will post 3.6078629 EPS for the current fiscal year.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, August 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.65%. The ex-dividend date is Wednesday, August 21st. Manulife Financial’s dividend payout ratio is 70.18%.

Insider Buying and Selling at Manulife Financial

In other Manulife Financial news, Director Philip James Witherington sold 97,640 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. In other news, Director Rocco Gori sold 48,640 shares of Manulife Financial stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of C$35.25, for a total transaction of C$1,714,560.00. Also, Director Philip James Witherington sold 97,640 shares of Manulife Financial stock in a transaction on Friday, May 31st. The stock was sold at an average price of C$35.17, for a total value of C$3,433,852.34. Insiders sold 157,878 shares of company stock valued at $5,557,706 in the last quarter. 0.02% of the stock is currently owned by 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.