Raymond James Financial (NYSE:RJF) Price Target Raised to $196.00

Raymond James Financial (NYSE:RJF) had its price objective hoisted by Barclays from $192.00 to $196.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

RJF has been the topic of a number of other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. TD Cowen reduced their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 28th. BMO Capital Markets reiterated a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research report on Thursday. Morgan Stanley lifted their price target on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Finally, UBS Group restated a “neutral” rating and set a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a report on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $178.82.

Raymond James Financial Trading Up 1.9%

Shares of NYSE:RJF opened at $169.27 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.08 and a beta of 0.93. Raymond James Financial has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a 50 day moving average price of $156.99 and a 200 day moving average price of $156.61.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the prior year, the company earned $2.18 earnings per share. The firm’s revenue was up 15.6% on a year-over-year basis. On average, research analysts anticipate that Raymond James Financial will post 12.01 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.54 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is presently 18.83%.

Hedge Funds Weigh In On Raymond James Financial

Several institutional investors and hedge funds have recently bought and sold shares of RJF. Empowered Funds LLC grew its position in Raymond James Financial by 8.2% during the first quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares in the last quarter. Woodline Partners LP increased its stake in Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock valued at $2,164,000 after buying an additional 4,592 shares during the period. EverSource Wealth Advisors LLC lifted its position in Raymond James Financial by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock worth $182,000 after buying an additional 685 shares in the last quarter. Brown Advisory Inc. lifted its position in Raymond James Financial by 15.1% in the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock worth $348,000 after buying an additional 298 shares in the last quarter. Finally, Cresset Asset Management LLC acquired a new stake in shares of Raymond James Financial during the 2nd quarter valued at $363,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

More Raymond James Financial News

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

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

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.