National Bankshares Increases Manulife Financial (TSE:MFC) Price Target to C$34.00

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

MFC has been the topic of several other research reports. Desjardins upgraded Manulife Financial from a hold rating to a buy rating and boosted their target price for the stock from C$29.00 to C$36.00 in a research report on Friday, February 16th. Cormark upgraded Manulife Financial from a market perform rating to a buy rating and boosted their target price for the stock from C$33.00 to C$36.00 in a research report on Friday, February 16th. CIBC boosted their target price on Manulife Financial from C$30.00 to C$34.00 and gave the stock a neutral rating in a research report on Friday, February 16th. Veritas Investment Research reiterated a reduce rating on shares of Manulife Financial in a research report on Friday, February 16th. Finally, Royal Bank of Canada upped their price target on Manulife Financial from C$34.00 to C$38.00 and gave the stock an outperform rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of C$36.40.

Manulife Financial Stock Up 0.6 %

MFC opened at C$32.27 on Friday. The business has a 50 day moving average price of C$32.58 and a two-hundred day moving average price of C$29.40. 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 company has a market cap of C$58.41 billion, a PE ratio of 12.36, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a 52 week low of C$23.69 and a 52 week high of C$34.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, beating the consensus estimate of C$0.84 by C$0.08. The firm had revenue of C$14.92 billion during the quarter, compared to the consensus estimate of C$10.24 billion. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. As a group, research analysts anticipate that Manulife Financial will post 3.6893764 EPS for the current year.

Manulife Financial Increases Dividend

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

Insiders Place Their Bets

In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of the stock in a transaction on 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 stock in a transaction on 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 stock in a transaction on Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$108,664.92. 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.