Keefe, Bruyette & Woods Reaffirms Hold Rating for Raymond James Financial, Inc. (RJF)
Raymond James Financial, Inc. (NYSE:RJF)‘s stock had its “hold” rating reaffirmed by stock analysts at Keefe, Bruyette & Woods in a report issued on Tuesday. They presently have a $85.00 price target on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target points to a potential downside of 0.92% from the company’s current price.
A number of other analysts have also recently issued reports on the company. BidaskClub cut Raymond James Financial from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Instinet reissued a “buy” rating and set a $90.00 target price (up from $89.00) on shares of Raymond James Financial in a report on Thursday, July 13th. Nomura boosted their target price on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Buckingham Research restated a “buy” rating and issued a $94.00 price target (up previously from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Finally, Zacks Investment Research upgraded Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Wednesday, August 30th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Raymond James Financial has a consensus rating of “Buy” and a consensus target price of $89.33.
Shares of Raymond James Financial (NYSE RJF) traded up 1.47% during mid-day trading on Tuesday, reaching $85.79. 511,617 shares of the company’s stock were exchanged. Raymond James Financial has a 52-week low of $56.61 and a 52-week high of $86.18. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 20.40 and a beta of 1.67. The stock’s 50-day moving average is $79.68 and its 200-day moving average is $78.02.
Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.02. The firm had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 earnings per share. On average, equities analysts expect that Raymond James Financial will post $5.07 EPS for the current year.
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In other news, CEO Paul C. Reilly sold 33,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the transaction, the chief executive officer now owns 128,980 shares in the company, valued at $10,727,266.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the transaction, the insider now owns 37,513 shares in the company, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. Insiders own 11.18% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. BB&T Corp increased its position in Raymond James Financial by 13.5% during the 4th quarter. BB&T Corp now owns 31,015 shares of the financial services provider’s stock worth $1,798,000 after buying an additional 3,693 shares during the period. Palisade Capital Management LLC NJ boosted its holdings in Raymond James Financial by 1.6% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 763,587 shares of the financial services provider’s stock valued at $37,645,000 after purchasing an additional 12,290 shares during the period. Bank of America Corp DE boosted its holdings in Raymond James Financial by 13.2% in the 1st 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 during the period. Bank of Nova Scotia bought a new stake in Raymond James Financial in the 1st quarter valued at about $2,243,000. Finally, Hartford Investment Management Co. bought a new stake in Raymond James Financial in the 1st quarter valued at about $2,216,000. 70.02% of the stock is owned by institutional investors and hedge funds.
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.
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