Barclays Forecasts Strong Price Appreciation for Raymond James Financial (NYSE:RJF) Stock

Raymond James Financial (NYSE:RJF) had its price target upped by equities researchers at Barclays from $192.00 to $196.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 15.79% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Citizens Jmp boosted their target price on shares of Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday. UBS Group reaffirmed 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. 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 research note on Thursday. Citigroup reissued a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday. Finally, Jefferies Financial Group decreased their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial has an average rating of “Hold” and a consensus price target 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 12-month low of $138.82 and a 12-month high of $177.66. The stock’s fifty day simple moving average is $156.99 and its two-hundred day simple moving average is $156.61. The stock 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. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the previous year, the company posted $2.18 EPS. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. As a group, analysts expect that Raymond James Financial will post 11.84 EPS for the current fiscal year.

Institutional Trading of Raymond James Financial

Large investors have recently bought and sold shares of the stock. Reflection Asset Management acquired a new position in Raymond James Financial during the 4th quarter valued at approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial during the fourth quarter worth $32,000. Hilton Head Capital Partners LLC acquired a new stake in shares of Raymond James Financial during the fourth quarter worth $35,000. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock valued at $37,000 after buying an additional 228 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in shares of Raymond James Financial during the fourth quarter valued at $40,000. Hedge funds and other 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.