TD Cowen Lowers Raymond James Financial (NYSE:RJF) Price Target to $161.00

Raymond James Financial (NYSE:RJF) had its price objective cut by TD Cowen from $162.00 to $161.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential downside of 4.88% from the stock’s previous close.

RJF has been the topic of several other reports. UBS Group reiterated a “neutral” rating and set a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a report on Wednesday, July 8th. Barclays raised their price target on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday. BMO Capital Markets reiterated a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a report on Thursday. Citizens Jmp increased their target price on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday. Finally, Jefferies Financial Group dropped their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $178.82.

Raymond James Financial Stock Up 1.9%

Shares of NYSE RJF 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 firm’s 50-day moving average is $156.99 and its 200-day moving average is $156.61. 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 has a market capitalization of $32.99 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.06 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last posted 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 return on equity of 19.17% and a net margin of 13.57%.The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same quarter in the prior year, the business posted $2.18 EPS. The firm’s quarterly revenue was up 15.6% on a year-over-year basis. Equities analysts expect that Raymond James Financial will post 11.84 EPS for the current year.

Hedge Funds Weigh In On Raymond James Financial

Large investors have recently modified their holdings of the business. Empowered Funds LLC raised its holdings in shares of Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 314 shares during the period. Woodline Partners LP lifted its position in Raymond James Financial by 41.8% during the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider’s stock worth $2,164,000 after acquiring an additional 4,592 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Raymond James Financial by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider’s stock valued at $182,000 after purchasing an additional 685 shares during the period. Brown Advisory Inc. boosted its position in shares of Raymond James Financial by 15.1% in the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 298 shares during the period. Finally, Cresset Asset Management LLC acquired a new stake in Raymond James Financial in the 2nd quarter worth about $363,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial News Roundup

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.