Raymond James Financial, Inc. (RJF) Rating Reiterated by Keefe, Bruyette & Woods
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.
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