National Bankshares Increases Manulife Financial (TSE:MFC) Price Target to C$43.00

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price hoisted by National Bankshares from C$38.00 to C$43.00 in a research report report published on Wednesday, BayStreet.CA reports. National Bankshares currently has an outperform rating on the financial services provider’s stock.

MFC has been the subject of several other research reports. Jefferies Financial Group dropped their target price on shares of Manulife Financial from C$43.00 to C$42.00 in a report on Thursday, July 18th. National Bank Financial upgraded shares of Manulife Financial from a sector perform market weight rating to an outperform market weight rating in a research note on Wednesday, May 8th. Evercore boosted their price target on shares of Manulife Financial from C$36.00 to C$37.00 in a research note on Friday, May 10th. BMO Capital Markets boosted their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, May 10th. Finally, TD Securities boosted their price target on shares of Manulife Financial from C$40.00 to C$41.00 in a research note on Friday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of C$38.45.

Manulife Financial Stock Down 3.7 %

Manulife Financial stock opened at C$34.29 on Wednesday. Manulife Financial has a fifty-two week low of C$23.69 and a fifty-two week high of C$37.46. The company has a debt-to-equity ratio of 48.44, a quick ratio of 2.58 and a current ratio of 29.14. The firm has a 50 day moving average price of C$35.85 and a 200 day moving average price of C$33.58. The company has a market capitalization of C$61.72 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 12.56 and a beta of 1.10.

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 for the quarter, beating the consensus estimate of C$0.90 by C$0.04. Manulife Financial had a net margin of 18.29% and a return on equity of 10.48%. The firm had revenue of C$12.80 billion during the quarter, compared to the consensus estimate of C$12.13 billion. Research analysts expect that Manulife Financial will post 3.6078629 earnings per share for the current year.

Manulife Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, May 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.67%. Manulife Financial’s payout ratio is currently 70.18%.

Insider Buying and Selling

In related news, Director Philip James Witherington sold 97,640 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of C$35.17, for a total value of C$3,433,852.34. In related news, Director Rocco Gori sold 48,640 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of C$35.25, for a total value of C$1,714,560.00. Also, Director Philip James Witherington sold 97,640 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of C$35.17, for a total transaction of C$3,433,852.34. Over the last quarter, insiders sold 157,878 shares of company stock worth $5,557,706. Corporate insiders own 0.02% of the company’s stock.

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.