Manulife Financial (TSE:MFC) Raised to Outperform at National Bankshares

Manulife Financial (TSE:MFC) (NYSE:MFC) was upgraded by research analysts at National Bankshares from a “sector perform” rating to an “outperform” rating in a report issued on Thursday, BayStreet.CA reports. The firm currently has a C$38.00 price target on the financial services provider’s stock, up from their prior price target of C$34.00. National Bankshares’ price objective indicates a potential upside of 8.73% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Scotiabank upped their price target on shares of Manulife Financial from C$35.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Desjardins upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and upped their price target for the stock from C$29.00 to C$36.00 in a research note on Friday, February 16th. Cormark upgraded shares of Manulife Financial from a “market perform” rating to a “buy” rating and upped their price target for the stock from C$33.00 to C$36.00 in a research note on Friday, February 16th. TD Securities cut shares of Manulife Financial from an “action list buy” rating to a “buy” rating and upped their price target for the stock from C$35.00 to C$37.00 in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada upped their target price on shares of Manulife Financial from C$34.00 to C$38.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Manulife Financial has an average rating of “Moderate Buy” and an average target price of C$36.90.

Manulife Financial Stock Up 4.0 %

Shares of TSE:MFC traded up C$1.35 during midday trading on Thursday, reaching C$34.95. The company’s stock had a trading volume of 3,245,650 shares, compared to its average volume of 6,107,089. The firm has a 50 day moving average of C$32.58 and a 200-day moving average of C$29.74. The firm has a market capitalization of C$62.91 billion, a P/E ratio of 13.39, a PEG ratio of 12.56 and a beta of 1.09. The company has a quick ratio of 2.58, a current ratio of 3.79 and a debt-to-equity ratio of 45.69. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$35.05.

Manulife Financial (TSE:MFC) (NYSE:MFC) last released its earnings results on Wednesday, February 14th. The financial services provider reported C$0.92 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.84 by C$0.08. The firm had revenue of C$14.92 billion for the quarter, compared to the consensus estimate of C$10.24 billion. Manulife Financial had a net margin of 20.05% and a return on equity of 11.57%. On average, research analysts anticipate that Manulife Financial will post 3.6797312 earnings per share for the current year.

Insider Transactions at Manulife Financial

In other news, Director Brooks Tingle sold 3,317 shares of the 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 related news, Director Brooks Tingle sold 3,317 shares of the 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. Also, Senior Officer Steve Finch sold 10,294 shares of the 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$337,231.44. Company insiders own 0.02% of the company’s stock.

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.