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

Manulife Financial (TSE:MFC) (NYSE:MFC) had its target price boosted by equities research 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’ target price indicates a potential upside of 5.92% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the company. Evercore raised their target price on Manulife Financial from C$30.00 to C$36.00 in a research note on Tuesday, February 20th. Veritas Investment Research restated a “reduce” rating on shares of Manulife Financial in a research report on Friday, February 16th. Desjardins upgraded Manulife Financial from a “hold” rating to a “buy” rating and raised their price target for the stock from C$29.00 to C$36.00 in a research report on Friday, February 16th. BMO Capital Markets raised their price target on Manulife Financial from C$35.00 to C$40.00 in a research report on Monday, April 8th. Finally, Royal Bank of Canada raised their price target on Manulife Financial from C$34.00 to C$38.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$36.40.

Manulife Financial Trading Up 0.5 %

MFC stock traded up C$0.16 during midday trading on Friday, hitting C$32.10. 647,826 shares of the company’s stock were exchanged, compared to its average volume of 5,977,728. The business has a 50-day simple moving average of C$32.62 and a two-hundred day simple moving average of C$29.24. The company has a current ratio of 3.79, a quick ratio of 2.58 and a debt-to-equity ratio of 45.69. The stock has a market capitalization of C$58.10 billion, a PE ratio of 12.30, a P/E/G ratio of 12.56 and a beta of 1.09. Manulife Financial has a 1-year low of C$23.69 and a 1-year high of C$34.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.84 by C$0.08. The company had revenue of C$14.92 billion during 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%. On average, sell-side analysts predict that Manulife Financial will post 3.6893764 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Brooks Tingle sold 3,317 shares of the business’s 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 news, Director Brooks Tingle sold 3,317 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total transaction of C$108,664.92. Also, Senior Officer Steve Finch sold 10,294 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of C$32.76, for a total value of C$337,231.44. 0.02% of the stock is currently owned by 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.