Raymond James (NYSE:RJF) Posts Quarterly Earnings Results

Raymond James (NYSE:RJF) posted its earnings results on Wednesday. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54, Briefing.com reports. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.13 earnings per share.

Raymond James Price Performance

Shares of RJF traded up $10.01 during trading hours on Thursday, reaching $147.37. The company had a trading volume of 2,687,050 shares, compared to its average volume of 1,140,108. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. Raymond James has a 12-month low of $91.67 and a 12-month high of $148.68. The firm has a 50 day simple moving average of $123.01 and a 200-day simple moving average of $121.08. The company has a market capitalization of $30.35 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.95 and a beta of 1.02.

Raymond James Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 1st were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.80 annualized dividend and a dividend yield of 1.22%. Raymond James’s payout ratio is currently 20.29%.

Insider Buying and Selling

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

Analysts Set New Price Targets

RJF has been the topic of several research analyst reports. Bank of America lifted their price target on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group cut their target price on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a research note on Monday, July 8th. Wells Fargo & Company lifted their price objective on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group increased their target price on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Raymond James has an average rating of “Hold” and an average target price of $137.36.

About Raymond James

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.