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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target increased by stock analysts at National Bankshares from C$33.00 to C$34.00 in a research note issued to investors on Friday, BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the financial services provider’s stock. National Bankshares’ price objective indicates a potential upside of 5.92% from the stock’s previous close.

Several other equities research analysts have also recently commented on MFC. TD Securities cut Manulife Financial from an “action list buy” rating to a “buy” rating and boosted their target price for the stock from C$35.00 to C$37.00 in a report on Wednesday, February 21st. Royal Bank of Canada boosted their target price 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. BMO Capital Markets boosted their target price on Manulife Financial from C$35.00 to C$40.00 in a report on Monday, April 8th. Evercore boosted their target price on Manulife Financial from C$30.00 to C$36.00 in a report on Tuesday, February 20th. Finally, Scotiabank boosted 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$36.40.

Manulife Financial Stock Performance

Shares of MFC traded up C$0.16 during mid-day trading on Friday, reaching C$32.10. 647,826 shares of the company’s stock traded hands, compared to its average volume of 5,977,728. The business’s 50-day moving average price is C$32.62 and its 200-day moving average price is C$29.24. The stock has a market capitalization of C$58.10 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 12.56 and a beta of 1.09. The company has a debt-to-equity ratio of 45.69, a quick ratio of 2.58 and a current ratio of 3.79. Manulife Financial has a 12 month low of C$23.69 and a 12 month high of C$34.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its quarterly earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.84 by C$0.08. The company had revenue of C$14.92 billion for the quarter, compared to analysts’ expectations of C$10.24 billion. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. Equities analysts predict that Manulife Financial will post 3.6893764 earnings per share for the current year.

Insiders Place Their Bets

In other Manulife Financial news, Director Brooks Tingle sold 3,317 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of C$32.76, for a total value of C$108,664.92. In other Manulife Financial news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial stock in a transaction that occurred on Friday, February 23rd. The shares were 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 Manulife Financial stock in a transaction that occurred 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. 0.02% of the stock is currently owned by company 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.