Raymond James Financial (NYSE:RJF)‘s stock had its “underperform” rating reiterated by equities research analysts at Credit Suisse Group in a research report issued on Tuesday. They presently have a $95.00 price objective on the financial services provider’s stock, up from their previous price objective of $82.00. Credit Suisse Group’s price objective points to a potential downside of 0.42% from the company’s previous close.
Several other brokerages have also recently issued reports on RJF. Keefe, Bruyette & Woods reissued a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a report on Tuesday, October 3rd. Wells Fargo & Co reissued an “outperform” rating and set a $110.00 target price (up previously from $94.00) on shares of Raymond James Financial in a report on Thursday, January 4th. Finally, Buckingham Research raised their target price on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $93.29.
Shares of Raymond James Financial (RJF) traded down $0.85 during trading on Tuesday, hitting $95.40. 795,114 shares of the company traded hands, compared to its average volume of 1,006,709. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. Raymond James Financial has a 12-month low of $71.35 and a 12-month high of $97.83. The stock has a market capitalization of $13,780.00, a PE ratio of 22.08, a PEG ratio of 0.83 and a beta of 1.71.
Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.15. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.67 billion. During the same quarter last year, the company posted $1.28 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. analysts predict that Raymond James Financial will post 6.78 earnings per share for the current fiscal year.
In other Raymond James Financial news, SVP George Catanese sold 2,000 shares of Raymond James Financial stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.63, for a total value of $171,260.00. Following the completion of the transaction, the senior vice president now owns 6,678 shares of the company’s stock, valued at $571,837.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of Raymond James Financial stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total transaction of $3,847,950.00. The disclosure for this sale can be found here. Insiders sold 318,204 shares of company stock valued at $27,453,239 in the last ninety days. 10.46% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC increased its holdings in Raymond James Financial by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock valued at $115,000 after buying an additional 66 shares in the last quarter. Noesis Capital Mangement Corp purchased a new position in Raymond James Financial in the third quarter valued at $210,000. Sterling Capital Management LLC purchased a new position in Raymond James Financial in the third quarter valued at $219,000. Visionary Asset Management Inc. purchased a new position in Raymond James Financial in the third quarter valued at $220,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in shares of Raymond James Financial by 37.6% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 798 shares during the period. 69.31% of the stock is owned by institutional investors.
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About Raymond James Financial
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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