BidaskClub cut shares of Raymond James Financial, Inc. (NYSE:RJF) from a buy rating to a hold rating in a research note published on Sunday.

A number of other research analysts have also recently weighed in on RJF. Nomura boosted their price objective on shares of Raymond James Financial from $89.00 to $90.00 and gave the company a buy rating in a research report on Thursday, July 13th. Instinet reiterated a buy rating and set a $90.00 price objective (up previously from $89.00) on shares of Raymond James Financial in a research report on Thursday, July 13th. Wells Fargo & Company reiterated a market perform rating and set a $85.00 price objective (up previously from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. Keefe, Bruyette & Woods reiterated a hold rating and set a $85.00 price objective on shares of Raymond James Financial in a research report on Wednesday, May 24th. Finally, Buckingham Research reiterated a buy rating and set a $94.00 price objective (up previously from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Raymond James Financial has an average rating of Buy and a consensus target price of $87.50.

Raymond James Financial (RJF) opened at 81.92 on Friday. The company has a market capitalization of $11.77 billion, a PE ratio of 19.49 and a beta of 1.65. The company has a 50-day moving average of $81.76 and a 200-day moving average of $77.45. Raymond James Financial has a 52 week low of $55.42 and a 52 week high of $85.97.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.57%. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $0.93 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that Raymond James Financial will post $5.07 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Monday, July 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, June 29th. Raymond James Financial’s payout ratio is presently 20.90%.

In other news, insider Bella Loykhter Allaire sold 4,000 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $82.83, for a total value of $331,320.00. Following 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 SEC, which is available at the SEC website. Also, EVP Jonathan N. Santelli sold 1,880 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $73.30, for a total transaction of $137,804.00. Following the completion of the transaction, the executive vice president now owns 3,000 shares in the company, valued at $219,900. The disclosure for this sale can be found here. Corporate insiders own 11.18% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC boosted its position in Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock worth $102,000 after buying an additional 52 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock worth $138,000 after buying an additional 40 shares during the last quarter. Burt Wealth Advisors bought a new position in Raymond James Financial during the second quarter worth approximately $150,000. Americafirst Capital Management LLC bought a new position in Raymond James Financial during the first quarter worth approximately $168,000. Finally, Global X Management Co. LLC boosted its position in Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock worth $176,000 after buying an additional 690 shares during the last quarter. 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.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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