Raymond James (NYSE:RJF) Price Target Lowered to $141.00 at Bank of America

Raymond James (NYSE:RJF) had its price target lowered by stock analysts at Bank of America from $145.00 to $141.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective indicates a potential upside of 17.97% from the stock’s current price.

Several other equities research analysts have also recently commented on RJF. Keefe, Bruyette & Woods cut their price target on shares of Raymond James from $132.00 to $131.00 and set a “market perform” rating on the stock in a research report on Thursday. JMP Securities reissued a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. Morgan Stanley raised their price target on shares of Raymond James from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. TD Cowen lifted their price objective on Raymond James from $116.50 to $131.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Finally, UBS Group reduced their price objective on shares of Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $126.78.

Raymond James Stock Down 6.3 %

Shares of RJF stock traded down $8.02 on Thursday, reaching $119.52. 1,429,087 shares of the company’s stock traded hands, compared to its average volume of 1,057,742. The business’s 50 day moving average price is $122.97 and its two-hundred day moving average price is $112.28. The company has a market capitalization of $24.98 billion, a P/E ratio of 14.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 0.99. Raymond James has a 12-month low of $82.00 and a 12-month high of $131.19.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a return on equity of 17.95% and a net margin of 12.81%. The company had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period last year, the company earned $2.03 earnings per share. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. On average, equities analysts forecast that Raymond James will post 9.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Art A. Garcia acquired 879 shares of the company’s stock in a transaction on Friday, February 9th. The shares were acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the purchase, the director now owns 879 shares in the company, valued at $98,711.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the completion of the sale, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Art A. Garcia bought 879 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were purchased at an average price of $112.30 per share, with a total value of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares of the company’s stock, valued at approximately $98,711.70. The disclosure for this purchase can be found here. Corporate insiders own 9.74% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Raymond James in the fourth quarter worth about $30,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Raymond James in the 4th quarter valued at $33,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James in the 1st quarter worth $33,000. Addison Advisors LLC increased its stake in Raymond James by 32.9% during the 3rd quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after buying an additional 103 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Raymond James during the 4th quarter valued at approximately $50,000. 83.83% of the stock is owned by institutional investors.

Raymond James Company Profile

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.