Raymond James (NYSE:RJF) Price Target Raised to $152.00

Raymond James (NYSE:RJF) had its price target hoisted by Bank of America from $136.00 to $152.00 in a research note issued to investors on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently commented on the company. JPMorgan Chase & Co. decreased their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research report on Thursday, July 25th. JMP Securities increased their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday. TD Cowen increased their price target on Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group decreased their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $137.36.

Raymond James Stock Down 1.7 %

RJF stock opened at $144.91 on Thursday. Raymond James has a twelve month low of $93.91 and a twelve month high of $148.68. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock’s 50 day moving average is $124.23 and its 200-day moving average is $121.28. The firm has a market capitalization of $30.04 billion, a PE ratio of 17.52, a P/E/G ratio of 0.95 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $2.13 earnings per share. Sell-side analysts expect that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is presently 21.77%.

Insider Activity

In other news, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the completion of the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bella Loykhter Allaire sold 17,363 shares of Raymond James stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $115.00, for a total value of $1,996,745.00. Following the sale, the executive vice president now directly owns 75,586 shares of the company’s stock, valued at $8,692,390. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Institutional Investors Weigh In On Raymond James

Several hedge funds have recently added to or reduced their stakes in RJF. Wolff Wiese Magana LLC lifted its stake in Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new stake in Raymond James during the second quarter worth about $29,000. Smithfield Trust Co lifted its stake in Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 126 shares during the last quarter. Covestor Ltd lifted its stake in Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in Raymond James during the third quarter worth about $32,000. Institutional investors own 83.83% of the company’s stock.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.