Manulife Financial (TSE:MFC) Given New C$47.00 Price Target at National Bankshares

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price boosted by stock analysts at National Bankshares from C$45.00 to C$47.00 in a research report issued on Thursday,BayStreet.CA reports. National Bankshares’ price target would suggest a potential upside of 6.24% from the stock’s previous close.

Several other brokerages have also recently commented on MFC. TD Securities raised their target price on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a report on Thursday. Barclays set a C$39.00 price objective on shares of Manulife Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. CIBC lifted their price objective on Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Scotiabank boosted their price target on Manulife Financial from C$41.00 to C$48.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$42.27.

Manulife Financial Stock Performance

Shares of MFC stock opened at C$44.24 on Thursday. Manulife Financial has a 12-month low of C$25.39 and a 12-month high of C$45.68. The firm has a market capitalization of C$78.30 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.01 and a beta of 1.06. The business has a 50 day simple moving average of C$40.15 and a 200 day simple moving average of C$36.98. The company has a debt-to-equity ratio of 49.60, a current ratio of 36.68 and a quick ratio of 2.58.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results 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. Manulife Financial had a net margin of 17.34% and a return on equity of 10.41%. The business had revenue of C$12.88 billion during the quarter, compared to analyst estimates of C$12.27 billion. On average, equities research analysts anticipate that Manulife Financial will post 3.6104452 EPS for the current year.

Insider Activity

In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of C$34.67, for a total value of C$232,566.36. In other news, Director Tin Ku sold 2,166 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the completion of the sale, the director now owns 253 shares of the company’s stock, valued at approximately C$9,474.85. This trade represents 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 that occurred on Tuesday, August 13th. The stock was sold at an average price of C$34.67, for a total value of C$232,566.36. In the last 90 days, insiders sold 68,821 shares of company stock worth $2,455,596. 0.03% of the stock is currently owned by corporate 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.