Bank of America Boosts Raymond James (NYSE:RJF) Price Target to $152.00

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

A number of other research firms have also commented on RJF. JMP Securities raised their price target on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday. JPMorgan Chase & Co. dropped their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. UBS Group dropped their price target on Raymond James from $138.00 to $135.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. TD Cowen lifted their price objective on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a report on Monday, July 8th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Raymond James in a report on Monday, July 8th. Nine analysts have rated the stock with a hold rating and four have assigned 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 $121.32. 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 released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The business had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the business posted $2.13 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts expect that Raymond James will post 9.55 EPS for the current fiscal year.

Raymond James Announces Dividend

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

Insider Activity at Raymond James

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

Institutional Investors Weigh In On Raymond James

A number of institutional investors have recently bought and sold shares of RJF. Wolff Wiese Magana LLC boosted its holdings in shares of Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP purchased a new position in shares of Raymond James during the second quarter valued at approximately $29,000. Covestor Ltd raised its stake in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 104 shares in the last quarter. Smithfield Trust Co raised its stake in shares of Raymond James by 105.0% during the first quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 126 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Raymond James during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

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.