Raymond James Financial (NYSE:RJF) Price Target Raised to $205.00

Raymond James Financial (NYSE:RJF) had its price objective hoisted by Citizens Jmp from $200.00 to $205.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a market outperform rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley lifted their target price on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. BMO Capital Markets increased their price target on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Barclays boosted their price objective on Raymond James Financial from $182.00 to $192.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $178.82.

Raymond James Financial Trading Up 1.9%

Shares of Raymond James Financial stock opened at $169.27 on Thursday. Raymond James Financial has a 12-month low of $138.82 and a 12-month high of $177.66. The stock has a market capitalization of $32.99 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 1.08 and a beta of 0.93. The company has a 50-day simple moving average of $156.99 and a 200 day simple moving average of $156.61. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.18 earnings per share. Research analysts expect that Raymond James Financial will post 12.01 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is 18.83%.

Institutional Trading of Raymond James Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC lifted its position in Raymond James Financial by 586.7% during the 4th quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock valued at $3,272,000 after purchasing an additional 17,407 shares during the period. Algebris UK Ltd. bought a new stake in shares of Raymond James Financial during the fourth quarter worth approximately $10,179,000. Fisher Asset Management LLC raised its stake in shares of Raymond James Financial by 6.9% during the fourth quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after buying an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Raymond James Financial by 7.2% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock valued at $17,343,000 after buying an additional 7,202 shares during the period. Finally, Swedbank AB lifted its holdings in Raymond James Financial by 31.1% in the fourth quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Key Raymond James Financial News

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

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

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.