Raymond James Plans Quarterly Dividend of $0.16 (RJF)
Raymond James (NYSE:RJF) announced a quarterly dividend on Thursday, August 21st, Analyst Ratings News reports. Investors of record on Wednesday, October 1st will be paid a dividend of 0.16 per share on Wednesday, October 15th. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, September 29th.
RJF has been the subject of a number of recent research reports. Analysts at Susquehanna upgraded shares of Raymond James from a “neutral” rating to a “positive” rating in a research note on Thursday, July 31st. They now have a $62.00 price target on the stock, up previously from $56.00. On a related note, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Raymond James in a research note on Friday, July 25th. They now have a $55.00 price target on the stock, up previously from $53.00. Finally, analysts at Nomura raised their price target on shares of Raymond James from $59.00 to $60.00 in a research note on Wednesday, July 9th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.00.
Shares of Raymond James (NYSE:RJF) traded up 1.87% during mid-day trading on Thursday, hitting $54.02. 756,634 shares of the company’s stock traded hands. Raymond James has a one year low of $40.01 and a one year high of $56.32. The stock has a 50-day moving average of $50.79 and a 200-day moving average of $50.88. The company has a market cap of $7.577 billion and a price-to-earnings ratio of 16.55.
Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts expect that Raymond James will post $3.21 EPS for the current fiscal year.
In other Raymond James news, CFO Jeffrey P. Julien sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $51.72, for a total value of $517,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Raymond James Financial, Inc (NYSE:RJF) is a financial holding company.
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