JPMorgan Chase & Co. Increases Raymond James Financial (NYSE:RJF) Price Target to $179.00

Raymond James Financial (NYSE:RJF) had its price target upped by stock analysts at JPMorgan Chase & Co. from $175.00 to $179.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 5.75% from the company’s previous close.

A number of other research firms also recently weighed in on RJF. Citizens Jmp boosted their target price on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday. UBS Group reiterated a “neutral” rating and issued a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a report on Thursday. Barclays raised their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, BMO Capital Markets reissued a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $178.82.

Raymond James Financial Price Performance

Shares of RJF stock opened at $169.27 on Thursday. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The firm’s 50 day moving average is $156.99 and its 200-day moving average is $156.61. The firm has a market capitalization of $32.99 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.06 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same quarter last year, the business posted $2.18 earnings per share. Raymond James Financial’s revenue for the quarter was up 15.6% compared to the same quarter last year. Sell-side analysts forecast that Raymond James Financial will post 11.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Raymond James Financial

A number of large investors have recently added to or reduced their stakes in the company. Great Valley Advisor Group Inc. boosted its position in shares of Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after buying an additional 61 shares during the period. Collective Family Office LLC raised its position in Raymond James Financial by 3.0% in the 2nd quarter. Collective Family Office LLC now owns 2,124 shares of the financial services provider’s stock valued at $323,000 after buying an additional 62 shares during the last quarter. Salomon & Ludwin LLC raised its position in Raymond James Financial by 34.8% in the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock valued at $42,000 after buying an additional 65 shares during the last quarter. Bridgewater Advisors Inc. lifted its stake in Raymond James Financial by 1.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 5,261 shares of the financial services provider’s stock valued at $892,000 after acquiring an additional 68 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in Raymond James Financial by 10.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 765 shares of the financial services provider’s stock valued at $116,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Trending Headlines about Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.