Bank of Montreal Can Boosts Stock Position in Raymond James Financial, Inc. $RJF

Bank of Montreal Can grew its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 40.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 281,074 shares of the financial services provider’s stock after buying an additional 81,465 shares during the period. Bank of Montreal Can’s holdings in Raymond James Financial were worth $43,108,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Raymond James Financial by 1.6% during the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider’s stock worth $3,089,942,000 after acquiring an additional 347,916 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Raymond James Financial by 0.7% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider’s stock worth $574,590,000 after buying an additional 29,086 shares in the last quarter. Invesco Ltd. raised its position in shares of Raymond James Financial by 19.1% in the first quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider’s stock worth $403,038,000 after buying an additional 466,129 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Raymond James Financial by 8.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider’s stock worth $324,390,000 after buying an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of Raymond James Financial by 6.7% in the first quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider’s stock worth $312,259,000 after buying an additional 140,704 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Ratings Changes

RJF has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods increased their price objective on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. BMO Capital Markets increased their price objective on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, TD Cowen increased their price objective on Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $177.20.

Raymond James Financial Stock Up 0.8%

RJF opened at $159.43 on Thursday. The stock has a market cap of $31.79 billion, a PE ratio of 15.49, a P/E/G ratio of 1.19 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a 52 week low of $117.57 and a 52 week high of $177.66. The business’s fifty day simple moving average is $166.40 and its 200 day simple moving average is $158.10.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a return on equity of 18.33% and a net margin of 13.42%.The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.95 earnings per share. As a group, research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is 19.44%.

Raymond James Financial 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.