Manulife Financial (TSE:MFC) Lifted to Outperform Market Weight at National Bank Financial

National Bank Financial upgraded shares of Manulife Financial (TSE:MFCFree Report) (NYSE:MFC) from a sector perform market weight rating to an outperform market weight rating in a report published on Wednesday, Zacks.com reports. National Bank Financial also issued estimates for Manulife Financial’s Q2 2024 earnings at $0.88 EPS, Q3 2024 earnings at $0.92 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.66 EPS and FY2025 earnings at $4.07 EPS.

A number of other equities analysts also recently issued reports on the company. Veritas Investment Research restated a reduce rating on shares of Manulife Financial in a research note on Friday, February 16th. Royal Bank of Canada raised their price objective on shares of Manulife Financial from C$34.00 to C$38.00 and gave the stock an outperform rating in a report on Friday, February 16th. TD Securities upped their target price on shares of Manulife Financial from C$37.00 to C$38.00 and gave the company a buy rating in a report on Thursday. National Bankshares upgraded shares of Manulife Financial from a sector perform rating to an outperform rating and lifted their price target for the stock from C$34.00 to C$38.00 in a research note on Thursday. Finally, Desjardins raised Manulife Financial from a hold rating to a buy rating and raised their target price for the stock from C$29.00 to C$36.00 in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of C$37.30.

Get Our Latest Analysis on Manulife Financial

Manulife Financial Stock Up 1.2 %

MFC traded up C$0.41 during trading on Wednesday, hitting C$35.60. 8,964,709 shares of the company’s stock traded hands, compared to its average volume of 6,185,018. Manulife Financial has a 12-month low of C$23.69 and a 12-month high of C$35.69. The company’s 50 day simple moving average is C$32.67 and its two-hundred day simple moving average is C$29.80. 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$64.08 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 12.56 and a beta of 1.09.

Manulife Financial (TSE:MFCGet Free Report) (NYSE:MFC) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported C$0.92 EPS for the quarter, topping the consensus estimate of C$0.84 by C$0.08. Manulife Financial had a return on equity of 11.57% and a net margin of 20.05%. The company had revenue of C$14.92 billion during the quarter, compared to the consensus estimate of C$10.24 billion. Analysts predict that Manulife Financial will post 3.6797312 earnings per share for the current fiscal year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Tuesday, May 21st. Manulife Financial’s dividend payout ratio (DPR) is currently 61.30%.

Insider Buying and Selling at Manulife Financial

In other news, Senior Officer Steve Finch sold 10,294 shares of the company’s 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. In related news, Senior Officer Steve Finch sold 10,294 shares of Manulife Financial 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. Also, Director Brooks Tingle sold 3,317 shares of Manulife Financial 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 value of C$108,664.92. Insiders own 0.02% of the company’s stock.

About Manulife Financial

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Manulife Financial (TSE:MFC)

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.