Raymond James Financial, Inc. Declares Quarterly Dividend of $0.54 (NYSE:RJF)

Raymond James Financial, Inc. (NYSE:RJF) announced a quarterly dividend on Wednesday, May 13th. Shareholders of record on Wednesday, July 1st will be paid a dividend of 0.54 per share by the financial services provider on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st.

Raymond James Financial has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Raymond James Financial has a payout ratio of 19.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Raymond James Financial to earn $13.56 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 15.9%.

Raymond James Financial Stock Up 0.3%

Raymond James Financial stock opened at $154.00 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The business’s 50-day simple moving average is $149.51 and its two-hundred day simple moving average is $157.91. The company has a market cap of $30.01 billion, a PE ratio of 14.56, a PEG ratio of 1.18 and a beta of 0.99. Raymond James Financial has a fifty-two week low of $138.82 and a fifty-two week high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the business posted $2.42 earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts anticipate that Raymond James Financial will post 11.83 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on RJF. BMO Capital Markets increased their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Morgan Stanley upped their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. Jefferies Financial Group reduced their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Finally, Barclays restated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $173.25.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.