Raymond James (NYSE:RJF) Price Target Increased to $152.00 by Analysts at Bank of America

Raymond James (NYSE:RJF) had its target price upped by Bank of America from $136.00 to $152.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective suggests a potential upside of 2.83% from the company’s previous close.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group boosted their price objective on shares of Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday. TD Cowen boosted their price objective on shares of Raymond James from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, July 8th. JPMorgan Chase & Co. lowered their price target on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. Jefferies Financial Group upped their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a report on Friday, October 4th. Finally, JMP Securities upped their price target on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $137.36.

Raymond James Price Performance

RJF traded up $10.45 during trading on Thursday, hitting $147.81. 1,431,081 shares of the stock traded hands, compared to its average volume of 1,134,012. Raymond James has a twelve month low of $91.67 and a twelve month high of $148.48. The company has a market cap of $30.44 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 0.95 and a beta of 1.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. The business has a 50 day moving average price of $123.01 and a 200 day moving average price of $121.08.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 EPS for the quarter, beating the consensus estimate of $2.31 by $0.08. Raymond James had a net margin of 13.16% and a return on equity of 18.44%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same period in the previous year, the business earned $1.85 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Equities research analysts forecast that Raymond James will post 9.55 earnings per share for the current fiscal year.

Insider Activity at Raymond James

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares of the company’s stock, valued at approximately $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’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 sale, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Tashtego S. Elwyn sold 31,277 shares of the 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 directly owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents 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 company insiders.

Institutional Investors Weigh In On Raymond James

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wolff Wiese Magana LLC increased its stake in Raymond James by 3,960.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares during the last quarter. Quarry LP bought a new stake in shares of Raymond James during the 2nd quarter worth $29,000. Smithfield Trust Co lifted its holdings in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares during the last quarter. Covestor Ltd raised its position in Raymond James by 77.0% in the 1st 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 period. Finally, Future Financial Wealth Managment LLC purchased a new position in Raymond James in the 3rd quarter worth $32,000. Institutional investors and hedge funds 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.