JPMorgan Chase & Co. Issues Pessimistic Forecast for Raymond James (NYSE:RJF) Stock Price

Raymond James (NYSE:RJF) had its price target reduced by JPMorgan Chase & Co. from $149.00 to $143.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 4.00% from the stock’s previous close.

Several other equities analysts have also commented on RJF. Wells Fargo & Company dropped their price target on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. StockNews.com lowered Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities reiterated a “market outperform” rating and issued a $175.00 target price on shares of Raymond James in a report on Thursday. Bank of America upped their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Citigroup decreased their target price on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Ten equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $157.64.

Raymond James Trading Up 0.2 %

Shares of Raymond James stock opened at $137.50 on Thursday. Raymond James has a fifty-two week low of $104.24 and a fifty-two week high of $174.32. The business’s fifty day moving average is $140.43 and its two-hundred day moving average is $151.68. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The firm has a market cap of $28.18 billion, a PE ratio of 13.41, a P/E/G ratio of 0.90 and a beta of 0.94.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.02). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.46 billion. During the same quarter last year, the company posted $2.31 earnings per share. Analysts anticipate that Raymond James will post 11.17 earnings per share for the current year.

Hedge Funds Weigh In On Raymond James

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Raymond James by 33.5% in the third quarter. Barclays PLC now owns 847,108 shares of the financial services provider’s stock worth $103,738,000 after acquiring an additional 212,697 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Raymond James during the 3rd quarter valued at approximately $308,000. Pine Valley Investments Ltd Liability Co grew its position in shares of Raymond James by 18.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,788 shares of the financial services provider’s stock worth $341,000 after buying an additional 439 shares in the last quarter. World Investment Advisors LLC increased its stake in shares of Raymond James by 7.3% in the third quarter. World Investment Advisors LLC now owns 28,290 shares of the financial services provider’s stock worth $3,464,000 after buying an additional 1,924 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its holdings in Raymond James by 1.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 67,439 shares of the financial services provider’s stock valued at $8,259,000 after acquiring an additional 1,026 shares in the last quarter. 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.