National Bankshares Forecasts Strong Price Appreciation for Manulife Financial (TSE:MFC) Stock

Manulife Financial (TSE:MFC) (NYSE:MFC) had its price objective raised by analysts at National Bankshares from C$45.00 to C$47.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. National Bankshares’ price objective indicates a potential upside of 6.24% from the stock’s current price.

A number of other research analysts have also recently weighed in on the company. Scotiabank raised their price target on Manulife Financial from C$41.00 to C$48.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Dbs Bank raised Manulife Financial to a “strong-buy” rating in a research report on Thursday, August 8th. CIBC boosted their target price on shares of Manulife Financial from C$36.00 to C$42.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Manulife Financial from C$42.00 to C$47.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Royal Bank of Canada boosted their price target on Manulife Financial from C$38.00 to C$39.00 in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Manulife Financial has an average rating of “Moderate Buy” and an average target price of C$42.27.

Manulife Financial Stock Performance

Shares of MFC opened at C$44.24 on Thursday. The stock has a market capitalization of C$78.30 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a debt-to-equity ratio of 49.60, a quick ratio of 2.58 and a current ratio of 36.68. Manulife Financial has a 1 year low of C$25.39 and a 1 year high of C$45.68. The company’s fifty day moving average is C$40.15 and its two-hundred day moving average is C$36.98.

Manulife Financial (TSE:MFC) (NYSE:MFC) last issued its earnings results on Wednesday, August 7th. The financial services provider reported C$0.91 EPS for the quarter, topping 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 company had revenue of C$12.88 billion for the quarter, compared to analyst estimates of C$12.27 billion. On average, sell-side analysts predict that Manulife Financial will post 3.6104452 earnings per share for the current year.

Insider Buying and Selling

In other Manulife Financial news, Director Tin Ku sold 2,166 shares of Manulife Financial stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of C$37.45, for a total transaction of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at C$9,474.85. The trade was a 0.00 % decrease in their position. In other news, Director Matthew Lyman Macinnis sold 6,708 shares of the business’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 Tin Ku sold 2,166 shares of the company’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 value of C$81,116.70. Following the sale, the director now directly owns 253 shares in the company, valued at approximately C$9,474.85. This represents a 0.00 % decrease in their ownership of the stock. Insiders have sold 68,821 shares of company stock valued at $2,455,596 in the last quarter. Company 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.