Power Financial (TSE:PWF) Price Target Raised to C$34.00 at CIBC

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Power Financial (TSE:PWF) had its price target increased by CIBC from C$33.00 to C$34.00 in a research note issued to investors on Monday morning, BayStreet.CA reports.

Several other brokerages also recently issued reports on PWF. BMO Capital Markets boosted their target price on shares of Power Financial from C$32.00 to C$34.00 in a research note on Wednesday, November 6th. Royal Bank of Canada cut their target price on shares of Power Financial from C$36.00 to C$35.00 in a research note on Monday, July 22nd.

TSE:PWF traded up C$0.06 during trading hours on Monday, hitting C$33.05. 391,754 shares of the stock traded hands, compared to its average volume of 715,906. The firm has a 50 day moving average price of C$30.90 and a 200 day moving average price of C$29.98. The company has a current ratio of 4.74, a quick ratio of 0.96 and a debt-to-equity ratio of 48.78. Power Financial has a fifty-two week low of C$25.05 and a fifty-two week high of C$33.27. The firm has a market cap of $21.92 billion and a price-to-earnings ratio of 11.76.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.456 per share. This is an increase from Power Financial’s previous quarterly dividend of $0.46. This represents a $1.82 annualized dividend and a yield of 5.52%. The ex-dividend date is Monday, December 30th. Power Financial’s payout ratio is 64.04%.

About Power Financial

Power Financial Corporation provides financial services in Canada, the United States, Europe, and Asia. It offers life, disability, critical illness, and health insurance products, as well as wealth savings and income products, and specialty products. The company also provides financial products, including employer-sponsored defined contribution plans, individual retirement accounts, enrollment services, communication materials, investment options and education services, fund management services, and investment and advisory services.

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