Commerce Bank Has $405,000 Stock Holdings in Manulife Financial Co. (NYSE:MFC)

Commerce Bank raised its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 24.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,696 shares of the financial services provider’s stock after buying an additional 2,676 shares during the period. Commerce Bank’s holdings in Manulife Financial were worth $405,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. West Financial Advisors LLC acquired a new stake in shares of Manulife Financial during the 3rd quarter valued at $26,000. Grove Bank & Trust bought a new position in Manulife Financial in the second quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Manulife Financial during the third quarter valued at about $30,000. Fortitude Family Office LLC bought a new stake in shares of Manulife Financial during the third quarter worth about $31,000. Finally, Addison Advisors LLC increased its stake in shares of Manulife Financial by 77.2% in the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider’s stock valued at $29,000 after buying an additional 467 shares during the period. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MFC. Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock. Dbs Bank upgraded Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Manulife Financial has an average rating of “Buy” and an average price target of $37.50.

Manulife Financial Stock Performance

NYSE:MFC opened at $31.84 on Wednesday. Manulife Financial Co. has a 52 week low of $19.20 and a 52 week high of $33.07. The firm’s fifty day moving average is $30.53 and its 200-day moving average is $27.81. The firm has a market cap of $55.78 billion, a P/E ratio of 15.38, a P/E/G ratio of 1.18 and a beta of 1.08.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.30. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. The firm had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $9.73 billion. During the same period last year, the business posted $0.69 EPS. As a group, sell-side analysts anticipate that Manulife Financial Co. will post 2.74 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be paid a $0.296 dividend. The ex-dividend date is Wednesday, November 20th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.72%. Manulife Financial’s payout ratio is 57.00%.

Manulife Financial 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.