Intrinsiqs

Is John Hancock Preferred Income Fund III overvalued?

John Hancock Preferred Income Fund III (HPS) looks overvalued — trading about 12% above its fair value.

Overvalued
Current price $14.53 Fair value $12.78
Price
$14.53
Fair value
$12.78
Current P/E
12.4
Normal P/E
10.9
Market cap
$467.0M
Dividend yield
8.8%
Return on equity
8.5%
Sector
Financial Services

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Fair value compares HPS's current P/E to its own historical "normal" P/E (FAST Graphs-style). Updated 1 Jul 2026.

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