Raymond James Financial, Inc. (NYSE:RJF) Given Average Recommendation of “Hold” by Analysts

Raymond James Financial, Inc. (NYSE:RJF) has earned an average recommendation of “Hold” from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $176.6364.

A number of equities analysts have weighed in on RJF shares. TD Cowen decreased their target price on shares of Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Barclays boosted their price target on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research report on Thursday. BMO Capital Markets upped their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research note on Thursday, April 23rd. Morgan Stanley raised their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, UBS Group reiterated a “neutral” rating and set a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday.

Raymond James Financial Stock Up 0.0%

Shares of Raymond James Financial stock opened at $168.15 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The company has a 50-day moving average of $154.40 and a 200 day moving average of $156.25. The firm has a market cap of $32.77 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.07 and a beta of 0.93. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the company posted $2.42 EPS. Raymond James Financial’s revenue was up 13.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Raymond James Financial will post 11.83 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. The ex-dividend date is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Hedge Funds Weigh In On Raymond James Financial

Hedge funds have recently bought and sold shares of the company. Reflection Asset Management bought a new stake in Raymond James Financial during the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the 4th quarter worth approximately $32,000. Harbor Investment Advisory LLC lifted its position in Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial in the 4th quarter valued at approximately $35,000. Finally, Steigerwald Gordon & Koch Inc. boosted its stake in Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.

Key Stories Impacting Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Several analysts turned more constructive on Raymond James Financial after earnings, including Citizens JMP raising its price target to $200 and Barclays lifting its target to $192 with an overweight rating, signaling expectations for further upside. Raymond James Financial (NYSE:RJF) Given New $200.00 Price Target at Citizens Jmp
• Positive Sentiment: Morgan Stanley also raised its target to $174, and a separate article suggested RJF could be about 3% undervalued after posting strong quarterly results, reinforcing the case that recent fundamentals may be better than the market is pricing in. Raymond James Financial (RJF) Could Be 3% Undervalued After Strong Quarterly Results
• Neutral Sentiment: UBS kept a hold rating on Raymond James Financial, indicating some analysts still see limited near-term upside despite the recent positive momentum. UBS Sticks to Their Hold Rating for Raymond James Financial (RJF)

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.