Raymond James Financial, Inc. (NYSE:RJF) Receives $172.20 Average PT from Brokerages

Raymond James Financial, Inc. (NYSE:RJF) has been given a consensus rating of “Hold” by the thirteen research firms that are presently covering the company, MarketBeat.com reports. Nine analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $172.20.

A number of research analysts recently weighed in on RJF shares. JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $172.00 to $178.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. Keefe, Bruyette & Woods lifted their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. JMP Securities lifted their price objective on shares of Raymond James Financial from $180.00 to $185.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company lifted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th.

Raymond James Financial Stock Up 0.7%

RJF opened at $163.63 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The company’s 50-day moving average is $167.51 and its 200 day moving average is $154.82. Raymond James Financial has a fifty-two week low of $117.57 and a fifty-two week high of $177.66. The firm has a market capitalization of $32.62 billion, a P/E ratio of 16.04, a PEG ratio of 1.24 and a beta of 1.03.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the previous year, the business earned $2.39 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Research analysts expect that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s payout ratio is currently 19.61%.

Institutional Trading of Raymond James Financial

Hedge funds have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management bought a new stake in Raymond James Financial in the first quarter worth about $27,000. Golden State Wealth Management LLC increased its stake in shares of Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 123 shares in the last quarter. Olde Wealth Management LLC purchased a new position in shares of Raymond James Financial in the first quarter worth about $33,000. Princeton Global Asset Management LLC increased its stake in shares of Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 100 shares in the last quarter. Finally, TCTC Holdings LLC increased its stake in shares of Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Company 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.