Raymond James Financial (RJF) PT Raised to $117.00 at Buckingham Research

Raymond James Financial (NYSE:RJF) had its price target raised by investment analysts at Buckingham Research from $113.00 to $117.00 in a research report issued on Friday. The brokerage currently has a “buy” rating on the financial services provider’s stock. Buckingham Research’s target price would suggest a potential upside of 19.07% from the company’s current price.

RJF has been the subject of several other research reports. Credit Suisse Group began coverage on Raymond James Financial in a research note on Thursday, November 30th. They issued an “underperform” rating and a $82.00 price target for the company. Wells Fargo & Co reissued an “outperform” rating and issued a $110.00 price target (up previously from $94.00) on shares of Raymond James Financial in a research note on Thursday, January 4th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $98.71.

Raymond James Financial (RJF) traded up $2.41 during trading hours on Friday, reaching $98.26. The company’s stock had a trading volume of 1,371,955 shares, compared to its average volume of 992,096. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. Raymond James Financial has a 52 week low of $71.35 and a 52 week high of $98.78. The stock has a market cap of $13,840.00, a PE ratio of 22.75, a PEG ratio of 0.84 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.19. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Raymond James Financial had a return on equity of 15.07% and a net margin of 9.00%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS. sell-side analysts forecast that Raymond James Financial will post 6.78 EPS for the current year.

In related news, Vice Chairman Francis S. Godbold sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $85.51, for a total value of $3,847,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP George Catanese sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $85.63, for a total value of $171,260.00. Following the completion of the sale, the senior vice president now owns 6,678 shares of the company’s stock, valued at $571,837.14. The disclosure for this sale can be found here. In the last three months, insiders sold 318,204 shares of company stock valued at $27,453,239. 10.46% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arthur M. Cohen & Associates LLC acquired a new stake in Raymond James Financial in the 4th quarter worth approximately $221,000. Advisor Partners LLC acquired a new stake in Raymond James Financial in the 4th quarter worth approximately $218,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Raymond James Financial in the 4th quarter worth approximately $555,000. Eqis Capital Management Inc. lifted its holdings in Raymond James Financial by 4.0% in the 4th quarter. Eqis Capital Management Inc. now owns 16,781 shares of the financial services provider’s stock worth $1,499,000 after purchasing an additional 646 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Raymond James Financial by 1.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 119,450 shares of the financial services provider’s stock worth $10,666,000 after purchasing an additional 1,385 shares during the last quarter. Hedge funds and other institutional investors own 69.30% of the company’s stock.

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About Raymond James Financial

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.