Bank of Montreal Can Has $39.51 Million Stock Holdings in Raymond James (NYSE:RJF)

Bank of Montreal Can lowered its stake in Raymond James (NYSE:RJF) by 7.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 254,350 shares of the financial services provider’s stock after selling 20,839 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of Raymond James worth $39,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RJF. TCTC Holdings LLC raised its position in Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 106 shares in the last quarter. Y.D. More Investments Ltd increased its stake in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its holdings in shares of Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the period. Mizuho Bank Ltd. acquired a new stake in Raymond James in the 4th quarter valued at about $53,000. Finally, Eastern Bank bought a new position in Raymond James during the fourth quarter worth about $68,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RJF. JPMorgan Chase & Co. raised their price objective on Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. The Goldman Sachs Group dropped their price objective on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, UBS Group raised shares of Raymond James from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Raymond James currently has a consensus rating of “Hold” and a consensus target price of $160.27.

Raymond James Stock Performance

NYSE RJF opened at $132.15 on Friday. The firm has a 50-day moving average price of $146.66 and a two-hundred day moving average price of $151.06. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The company has a market capitalization of $27.08 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.90 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. Analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is currently 19.51%.

Raymond James 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.