Raymond James Financial (NYSE:RJF) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Raymond James Financial (NYSE:RJF) had its price objective upped by analysts at Citizens Jmp from $200.00 to $205.00 in a report released on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s price target would indicate a potential upside of 21.11% from the stock’s current price.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group dropped their target price on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. 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 note on Wednesday, July 8th. Morgan Stanley lifted their target price on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Raymond James Financial in a report on Thursday. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Raymond James Financial currently has an average rating of “Hold” and an average target price of $178.82.

Raymond James Financial Trading Up 1.9%

NYSE RJF opened at $169.27 on Thursday. The firm’s 50-day moving average is $156.99 and its two-hundred day moving average is $156.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. Raymond James Financial has a 12 month low of $138.82 and a 12 month high of $177.66. The stock has a market capitalization of $32.99 billion, a P/E ratio of 14.76, a PEG ratio of 1.06 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the company posted $2.18 EPS. On average, sell-side analysts anticipate that Raymond James Financial will post 11.84 earnings per share for the current year.

Institutional Investors Weigh In On Raymond James Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Trust Advisors LP grew its stake in shares of Raymond James Financial by 18.3% during the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock worth $493,332,000 after purchasing an additional 474,477 shares during the period. Victory Capital Management Inc. increased its stake in Raymond James Financial by 0.8% in the 4th quarter. Victory Capital Management Inc. now owns 2,785,857 shares of the financial services provider’s stock valued at $447,381,000 after purchasing an additional 21,856 shares in the last quarter. Bank of America Corp DE raised its holdings in Raymond James Financial by 9.9% during the first quarter. Bank of America Corp DE now owns 2,449,760 shares of the financial services provider’s stock worth $354,701,000 after purchasing an additional 220,227 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Raymond James Financial by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,399,638 shares of the financial services provider’s stock worth $347,390,000 after purchasing an additional 41,413 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Raymond James Financial by 12.2% during the fourth quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock worth $375,543,000 after purchasing an additional 254,773 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Key Stories Impacting 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

About Raymond James Financial

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.