Cormark Raises Earnings Estimates for Manulife Financial

Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC - Research analysts at Cormark lifted their FY2026 earnings per share (EPS) estimates for Manulife Financial in a note issued to investors on Thursday, May 8th. Cormark analyst L. Persaud now expects that the financial services provider will post earnings per share of $3.28 for the year, up from their prior forecast of $3.26. The consensus estimate for Manulife Financial's current full-year earnings is $2.87 per share.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.01). The firm had revenue of $1.49 billion for the quarter. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. During the same period last year, the company posted $0.94 EPS.

Several other research analysts have also recently issued reports on MFC. Royal Bank of Canada lifted their target price on Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Scotiabank reaffirmed an "outperform" rating on shares of Manulife Financial in a research report on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $45.50.

Manulife Financial Stock Performance

Shares of NYSE MFC traded down $0.11 during midday trading on Monday, hitting $31.64. 2,861,829 shares of the stock traded hands, compared to its average volume of 2,167,045. The company has a market cap of $54.19 billion, a PE ratio of 15.29, a P/E/G ratio of 1.11 and a beta of 1.00. Manulife Financial has a one year low of $23.30 and a one year high of $33.07. The business has a 50 day moving average price of $29.90 and a two-hundred day moving average price of $30.49.

Manulife Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Wednesday, May 21st will be given a $0.3194 dividend. The ex-dividend date is Wednesday, May 21st. This represents a $1.28 annualized dividend and a yield of 4.04%. This is a boost from Manulife Financial's previous quarterly dividend of $0.31. Manulife Financial's payout ratio is currently 63.87%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crews Bank & Trust purchased a new position in Manulife Financial in the fourth quarter worth $26,000. Lee Danner & Bass Inc. purchased a new position in shares of Manulife Financial during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at $34,000. Golden State Wealth Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at $35,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Manulife Financial during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 52.56% 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.