Raymond James Financial (RJF) Rating Reiterated by Credit Suisse Group

Credit Suisse Group restated their underperform rating on shares of Raymond James Financial (NYSE:RJF) in a research note published on Tuesday morning, The Fly reports. Credit Suisse Group currently has a $95.00 price target on the financial services provider’s stock, up from their previous price target of $82.00.

Several other equities research analysts also recently weighed in on the stock. Buckingham Research increased their target price on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a buy rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods reiterated a hold rating and set a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Finally, Wells Fargo & Co reiterated an outperform rating and set a $110.00 target price (up previously from $94.00) on shares of Raymond James Financial in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. Raymond James Financial has a consensus rating of Buy and an average target price of $93.29.

Shares of Raymond James Financial (NYSE:RJF) traded up $0.79 during mid-day trading on Tuesday, hitting $96.19. The company’s stock had a trading volume of 605,298 shares, compared to its average volume of 855,686. The stock has a market capitalization of $13,890.00, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71. Raymond James Financial has a 12 month low of $71.35 and a 12 month high of $97.83. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.16.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.15. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. research analysts forecast that Raymond James Financial will post 6.78 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd were paid a dividend of $0.25 per share. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. Raymond James Financial’s dividend payout ratio is 23.15%.

In other news, Vice Chairman Francis S. Godbold sold 45,000 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total transaction of $3,847,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP George Catanese sold 506 shares of the stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $88.29, for a total transaction of $44,674.74. Following the sale, the senior vice president now owns 5,884 shares of the company’s stock, valued at approximately $519,498.36. The disclosure for this sale can be found here. Insiders have sold 318,204 shares of company stock valued at $27,453,239 in the last quarter. Insiders own 10.46% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Systematic Financial Management LP lifted its position in shares of Raymond James Financial by 138.5% during the 2nd quarter. Systematic Financial Management LP now owns 3,100 shares of the financial services provider’s stock valued at $249,000 after acquiring an additional 1,800 shares during the period. Alliancebernstein L.P. lifted its position in shares of Raymond James Financial by 8.7% during the 2nd quarter. Alliancebernstein L.P. now owns 261,409 shares of the financial services provider’s stock valued at $20,970,000 after acquiring an additional 20,972 shares during the period. Riverhead Capital Management LLC lifted its position in shares of Raymond James Financial by 172.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,731 shares of the financial services provider’s stock valued at $700,000 after acquiring an additional 5,531 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Raymond James Financial by 489.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 471,784 shares of the financial services provider’s stock valued at $38,146,000 after acquiring an additional 391,701 shares during the period. Finally, Norinchukin Bank The lifted its position in shares of Raymond James Financial by 12.6% during the 2nd quarter. Norinchukin Bank The now owns 5,061 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 567 shares during the period. Institutional investors and hedge funds own 69.31% of the company’s stock.

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Raymond James Financial Company Profile

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.

The Fly

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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