Raymond James Financial, Inc. (NYSE:RJF) was upgraded by equities research analysts at Wells Fargo & Company from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday.

RJF has been the topic of several other reports. BidaskClub upgraded shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, August 29th. Zacks Investment Research cut shares of Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, August 29th. Instinet lowered their target price on shares of Raymond James Financial to $89.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Finally, Nomura increased their target price on shares of Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Raymond James Financial currently has a consensus rating of “Buy” and a consensus price target of $88.50.

Raymond James Financial (RJF) opened at 78.46 on Thursday. The company has a 50-day moving average of $79.89 and a 200-day moving average of $77.70. The company has a market capitalization of $11.28 billion, a PE ratio of 18.66 and a beta of 1.66. Raymond James Financial has a 52 week low of $56.06 and a 52 week high of $85.97.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. Raymond James Financial’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 EPS. On average, equities research analysts anticipate that Raymond James Financial will post $5.07 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: “Raymond James Financial, Inc. (RJF) Upgraded to Outperform at Wells Fargo & Company” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another site, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2017/09/14/raymond-james-financial-inc-rjf-upgraded-to-outperform-at-wells-fargo-company.html.

In related news, insider Bella Loykhter Allaire sold 4,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the sale, the insider now owns 37,513 shares of the company’s stock, valued at $3,107,201.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Paul C. Reilly sold 33,000 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the sale, the chief executive officer now directly owns 128,980 shares in the company, valued at approximately $10,727,266.60. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Raymond James Financial by 13.2% during the first quarter. Bank of America Corp DE now owns 898,931 shares of the financial services provider’s stock valued at $68,554,000 after purchasing an additional 105,145 shares in the last quarter. Bank of Nova Scotia purchased a new stake in Raymond James Financial during the first quarter valued at $2,243,000. Alliancebernstein L.P. raised its stake in Raymond James Financial by 132.5% during the first quarter. Alliancebernstein L.P. now owns 240,437 shares of the financial services provider’s stock valued at $18,336,000 after purchasing an additional 137,022 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Raymond James Financial during the first quarter valued at $3,614,000. Finally, Boston Advisors LLC raised its stake in Raymond James Financial by 4.9% during the second quarter. Boston Advisors LLC now owns 79,960 shares of the financial services provider’s stock valued at $6,414,000 after purchasing an additional 3,744 shares in the last quarter. 70.03% of the stock is currently owned by institutional investors.

Raymond James Financial Company Profile

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.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

Receive News & Ratings for Raymond James Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.