Raymond James Financial, Inc. (NYSE:RJF)‘s stock had its “hold” rating restated by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday. They currently have a $85.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would indicate a potential upside of 8.39% from the stock’s current price.

A number of other analysts have also recently weighed in on RJF. Nomura reissued a “buy” rating and issued a $94.00 price objective on shares of Raymond James Financial in a research report on Tuesday, May 2nd. Instinet lowered their price objective on Raymond James Financial to $89.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Wells Fargo & Company reissued a “market perform” rating and issued a $85.00 price objective (up previously from $82.50) on shares of Raymond James Financial in a research report on Monday, June 12th. BidaskClub raised Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Finally, Buckingham Research reissued a “buy” rating and issued a $94.00 price objective (up previously from $88.00) on shares of Raymond James Financial in a research report on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $87.50.

Raymond James Financial (NYSE RJF) traded down 1.12% during midday trading on Tuesday, reaching $77.54. The company had a trading volume of 532,583 shares. The stock has a market capitalization of $11.14 billion, a PE ratio of 18.44 and a beta of 1.65. Raymond James Financial has a 12-month low of $56.06 and a 12-month high of $85.97. The company has a 50-day moving average of $81.58 and a 200-day moving average of $77.79.

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, topping the Zacks’ consensus estimate of $1.24 by $0.02. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.93 EPS. On average, analysts predict that Raymond James Financial will post $5.07 EPS for the current fiscal year.

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In other Raymond James Financial news, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $82.83, for a total transaction of $331,320.00. Following the completion of the sale, the insider now owns 37,513 shares of the company’s stock, valued at approximately $3,107,201.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total value of $2,744,610.00. Following the sale, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Raymond James Financial by 3,818.6% in the first quarter. BlackRock Inc. now owns 8,358,285 shares of the financial services provider’s stock worth $637,402,000 after buying an additional 8,144,989 shares in the last quarter. Vanguard Group Inc. raised its position in Raymond James Financial by 24.4% in the first quarter. Vanguard Group Inc. now owns 12,571,840 shares of the financial services provider’s stock worth $958,728,000 after buying an additional 2,462,838 shares during the last quarter. State Street Corp raised its position in Raymond James Financial by 44.2% in the first quarter. State Street Corp now owns 5,930,879 shares of the financial services provider’s stock worth $452,297,000 after buying an additional 1,819,172 shares during the last quarter. BT Investment Management Ltd bought a new position in Raymond James Financial during the second quarter worth $98,773,000. Finally, Westpac Banking Corp raised its position in Raymond James Financial by 6,501.9% in the first quarter. Westpac Banking Corp now owns 1,156,979 shares of the financial services provider’s stock worth $96,770,000 after buying an additional 1,139,454 shares during the last quarter. 70.03% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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