Raymond James COO Sells $512,238 in Stock (RJF)
Raymond James (NYSE:RJF) COO Dennis W. Zank sold 9,430 shares of the stock on the open market in a transaction dated Friday, August 22nd. The stock was sold at an average price of $54.32, for a total transaction of $512,237.60. Following the completion of the sale, the chief operating officer now directly owns 142,944 shares of the company’s stock, valued at approximately $7,764,718. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Raymond James (NYSE:RJF) traded up 0.42% during mid-day trading on Tuesday, hitting $54.93. The stock had a trading volume of 191,341 shares. Raymond James has a 52 week low of $40.01 and a 52 week high of $56.32. The stock’s 50-day moving average is $51.05 and its 200-day moving average is $51.02. The company has a market cap of $7.705 billion and a price-to-earnings ratio of 17.07.
Raymond James (NYSE:RJF) last released its earnings data on Wednesday, July 23rd. The company reported $0.85 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.65 earnings per share. Raymond James’s revenue was up 9.4% compared to the same quarter last year. Analysts expect that Raymond James will post $3.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Monday, September 29th.
A number of research firms have recently commented on RJF. 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. Separately, 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $56.00.
Raymond James Financial, Inc (NYSE:RJF) is a financial holding company.
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