Raymond James Financial, Inc. (NYSE:RJF)‘s stock had its “buy” rating reissued by equities researchers at Buckingham Research in a research report issued to clients and investors on Monday, July 10th. They presently have a $94.00 target price on the financial services provider’s stock, up from their previous target price of $88.00. Buckingham Research’s price objective suggests a potential upside of 13.42% from the stock’s current price.
Other analysts have also issued reports about the stock. Nomura restated a “buy” rating and issued a $94.00 price objective on shares of Raymond James Financial in a report on Tuesday, May 2nd. Instinet lowered their price objective on shares of Raymond James Financial to $89.00 and set a “buy” rating for the company in a report on Thursday, May 25th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $85.00 price objective on shares of Raymond James Financial in a report on Wednesday, May 24th. Wells Fargo & Company restated a “market perform” rating and issued a $85.00 price objective (up from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Finally, BidaskClub upgraded shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Raymond James Financial presently has an average rating of “Buy” and a consensus target price of $87.50.
Shares of Raymond James Financial (RJF) opened at 82.88 on Monday. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 19.72 and a beta of 1.65. Raymond James Financial has a 12 month low of $55.42 and a 12 month high of $85.97. The company has a 50-day moving average price of $81.42 and a 200-day moving average price of $77.23.
Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.57%. Raymond James Financial’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. On average, equities analysts anticipate that Raymond James Financial will post $5.07 EPS for the current year.
In other news, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the transaction, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jonathan N. Santelli sold 1,880 shares of Raymond James Financial stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $73.30, for a total transaction of $137,804.00. Following the transaction, the executive vice president now owns 3,000 shares of the company’s stock, valued at $219,900. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its position in Raymond James Financial by 13.2% in the first quarter. Bank of America Corp DE now owns 898,931 shares of the financial services provider’s stock valued at $68,554,000 after buying an additional 105,145 shares during the last quarter. Hartford Investment Management Co. purchased a new stake in shares of Raymond James Financial during the first quarter valued at $2,216,000. Bank of Nova Scotia purchased a new stake in shares of Raymond James Financial during the first quarter valued at $2,243,000. Toronto Dominion Bank increased its stake in shares of Raymond James Financial by 3,022.8% in the first quarter. Toronto Dominion Bank now owns 34,507 shares of the financial services provider’s stock valued at $2,632,000 after buying an additional 33,402 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Raymond James Financial by 4.3% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,608 shares of the financial services provider’s stock valued at $111,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 70.87% of the company’s stock.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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