Scotiabank Issues Positive Forecast for Manulife Financial (TSE:MFC) Stock Price

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price target hoisted by Scotiabank from C$48.00 to C$49.00 in a research report report published on Friday morning,BayStreet.CA reports.

A number of other research analysts also recently commented on the company. Royal Bank of Canada boosted their price target on Manulife Financial from C$38.00 to C$39.00 in a research note on Friday, August 9th. Barclays set a C$39.00 price target on Manulife Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research note on Thursday, August 8th. CIBC boosted their target price on Manulife Financial from C$36.00 to C$42.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, National Bankshares boosted their target price on Manulife Financial from C$45.00 to C$47.00 in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$42.27.

Manulife Financial Stock Performance

Shares of MFC traded down C$0.52 during midday trading on Friday, reaching C$44.24. 3,475,900 shares of the stock were exchanged, compared to its average volume of 6,381,398. The company has a market cap of C$78.30 billion, a P/E ratio of 18.83, a PEG ratio of 1.01 and a beta of 1.06. The stock’s 50 day simple moving average is C$40.15 and its 200 day simple moving average is C$36.98. Manulife Financial has a twelve month low of C$25.39 and a twelve month high of C$45.68. The company has a quick ratio of 2.58, a current ratio of 36.68 and a debt-to-equity ratio of 49.60.

Manulife Financial (TSE:MFC) (NYSE:MFC) last posted its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, beating analysts’ consensus estimates of C$0.88 by C$0.03. The business had revenue of C$12.88 billion during the quarter, compared to the consensus estimate of C$12.27 billion. Manulife Financial had a return on equity of 10.41% and a net margin of 17.34%. On average, sell-side analysts expect that Manulife Financial will post 3.6104452 earnings per share for the current year.

Manulife Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial’s payout ratio is presently 68.09%.

Insider Activity at Manulife Financial

In related news, Director Matthew Lyman Macinnis sold 6,708 shares of the company’s 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 related news, Director Matthew Lyman Macinnis sold 6,708 shares of the company’s 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. Also, Director Rocco Gori sold 48,345 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of C$35.73, for a total value of C$1,727,395.86. Insiders have sold 68,821 shares of company stock worth $2,455,596 over the last ninety days. Insiders own 0.03% 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.