RE:Overreaction
Yes, the lower price this morning is your typical overreaction.
Take a look at the trading chart of the last three months. There is a pretty clear channel between $24 and $25 (give or take a few cents). Today we are at the lower end of the channel.
I expect OSFI to allow banks and insurance companies to raise their dividend starting 2022 and MFC should raise its dividend by 10% or so to $0.31 per quarter.
I purchased 1,000 shares this morning at C$23.98 for long term investment (I am not a trader).