Raymond James Financial (NYSE:RJF) Price Target Raised to $179.00 at JPMorgan Chase & Co.

Raymond James Financial (NYSE:RJF) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $175.00 to $179.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 8.31% from the company’s current price.

A number of other research firms also recently commented on RJF. BMO Capital Markets reaffirmed a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research note on Thursday. Jefferies Financial Group decreased their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Barclays increased their price target on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research report on Thursday. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday. Finally, UBS Group reaffirmed a “neutral” rating and set a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.82.

Raymond James Financial Price Performance

Shares of NYSE:RJF traded down $2.74 on Thursday, hitting $165.27. The stock had a trading volume of 871,426 shares, compared to its average volume of 1,420,224. The firm’s 50 day moving average price is $156.48 and its 200-day moving average price is $156.51. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $177.66. The company has a market capitalization of $32.21 billion, a price-to-earnings ratio of 15.59, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. Raymond James Financial’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period last year, the company posted $2.18 EPS. On average, equities research analysts predict that Raymond James Financial will post 11.84 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Reflection Asset Management purchased a new position in shares of Raymond James Financial during the fourth quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial in the fourth quarter worth $32,000. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial in the fourth quarter valued at $35,000. Steigerwald Gordon & Koch Inc. increased its position in Raymond James Financial by 760.0% during the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 228 shares during the period. Finally, DV Equities LLC purchased a new position in Raymond James Financial during the 4th quarter valued at $40,000. Institutional investors own 83.83% of the company’s stock.

Key Headlines Impacting Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James delivered an earnings beat, with EPS of $3.14 and revenue of $3.93 billion both topping estimates, reinforcing confidence in the company’s profitability. Article Title
• Positive Sentiment: Record revenues, record earnings per share, and a 42% year-over-year jump in net income highlight broad-based business strength across private client, capital markets, asset management, and banking. Article Title
• Positive Sentiment: Key growth metrics were strong, including $21.7 billion in domestic private client net new assets and record client assets under administration of $1.92 trillion, suggesting continued asset-gathering momentum. Article Title
• Positive Sentiment: Analysts turned more constructive after the report, with Barclays raising its price target to $196 and Citizens JMP lifting its target to $205, both signaling upside expectations for RJF. Article Title
• Neutral Sentiment: The company repurchased $400 million of stock during the quarter and still has $1.1 billion remaining under its buyback authorization, which supports capital return but is largely in line with expectations.
• Neutral Sentiment: The quarter also included a $26 million credit-loss benefit in the bank segment and a lower tax rate, which helped results but may not recur at the same level.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.