National Bankshares Forecasts Strong Price Appreciation for Manulife Financial (TSE:MFC) Stock

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target boosted by National Bankshares from C$45.00 to C$47.00 in a report published on Thursday,BayStreet.CA reports.

Several other brokerages have also recently issued reports on MFC. Royal Bank of Canada boosted their price objective on shares of Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Jefferies Financial Group raised their price objective on shares of Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Scotiabank increased their target price on Manulife Financial from C$41.00 to C$48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. CIBC lifted their price target on Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays set a C$39.00 price objective on Manulife Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$41.82.

Manulife Financial Stock Performance

MFC stock traded down C$0.60 on Thursday, hitting C$44.16. The company’s stock had a trading volume of 644,967 shares, compared to its average volume of 6,368,353. The firm has a 50 day moving average of C$39.84 and a two-hundred day moving average of C$36.88. Manulife Financial has a 1 year low of C$25.39 and a 1 year high of C$45.68. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60. The stock has a market cap of C$78.16 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, beating the consensus estimate of C$0.88 by C$0.03. The firm had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. Equities analysts predict that Manulife Financial will post 3.6104452 EPS for the current fiscal year.

Manulife Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.62%. The ex-dividend date is Wednesday, November 20th. Manulife Financial’s payout ratio is 68.09%.

Insider Activity

In related news, Director Tin Ku sold 2,166 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the transaction, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. The trade was a 0.00 % decrease in their position. In other news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total value of C$81,116.70. Following the completion of the sale, the director now owns 253 shares of the company’s stock, valued at C$9,474.85. The trade was a 0.00 % decrease in their ownership of the stock. Also, Director Matthew Lyman Macinnis sold 6,708 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total transaction of C$232,566.36. Insiders have sold 68,821 shares of company stock worth $2,455,596 over the last three months. 0.03% of the stock is currently owned by corporate insiders.

About Manulife Financial

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.