Raymond James Financial, Inc. (RJF) Plans $0.22 Quarterly Dividend
Raymond James Financial, Inc. (NYSE:RJF) declared a quarterly dividend on Thursday, August 24th, Zacks reports. Investors of record on Monday, October 2nd will be paid a dividend of 0.22 per share by the financial services provider on Monday, October 16th. This represents a $0.88 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Friday, September 29th.
Raymond James Financial has raised its dividend payment by an average of 2.3% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Raymond James Financial has a dividend payout ratio of 17.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Raymond James Financial to earn $5.75 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.3%.
Shares of Raymond James Financial (NYSE RJF) traded up 0.04% during trading on Friday, reaching $78.82. 163,668 shares of the company traded hands. Raymond James Financial has a 1-year low of $56.06 and a 1-year high of $85.97. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 18.74 and a beta of 1.65. The stock’s 50 day moving average is $81.65 and its 200 day moving average is $77.77.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.02. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same period last year, the firm earned $0.93 EPS. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, analysts forecast that Raymond James Financial will post $5.07 EPS for the current year.
Several brokerages have recently issued reports on RJF. BidaskClub cut Raymond James Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Instinet restated a “buy” rating and issued a $90.00 target price (up from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Nomura lifted their target price on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Buckingham Research restated a “buy” rating and issued a $94.00 target price (up from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Finally, Wells Fargo & Company restated a “market perform” rating and issued a $85.00 target price (up from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Raymond James Financial currently has an average rating of “Buy” and a consensus price target of $87.50.
In related news, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the completion of the sale, the chief executive officer now owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total value of $331,320.00. Following the sale, the insider now directly owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.
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.
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