Raymond James Financial (NYSE:RJF) Rating Increased to Hold at BMO Capital Markets

Raymond James Financial (NYSE:RJF) was upgraded by BMO Capital Markets to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on RJF. Citigroup reiterated a “neutral” rating and set a $180.00 price target (up previously from $170.00) on shares of Raymond James Financial in a research report on Monday, September 22nd. JPMorgan Chase & Co. increased their price target on Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a report on Saturday, September 27th. JMP Securities increased their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a report on Monday, July 14th. Finally, Keefe, Bruyette & Woods increased their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, Raymond James Financial has a consensus rating of “Hold” and a consensus target price of $171.10.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $166.64 on Thursday. The company has a market capitalization of $33.22 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.28 and a beta of 1.03. The business’s 50 day moving average is $168.04 and its two-hundred day moving average is $153.70. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial has a 12-month low of $117.57 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.39 EPS. Analysts expect that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently made changes to their positions in RJF. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial in the first quarter valued at approximately $25,000. Wedmont Private Capital increased its holdings in shares of Raymond James Financial by 450.0% in the first quarter. Wedmont Private Capital now owns 10,318 shares of the financial services provider’s stock valued at $1,396,000 after purchasing an additional 8,442 shares during the last quarter. Bank of New Hampshire increased its holdings in shares of Raymond James Financial by 9.0% in the first quarter. Bank of New Hampshire now owns 10,835 shares of the financial services provider’s stock valued at $1,505,000 after purchasing an additional 896 shares during the last quarter. Portside Wealth Group LLC increased its holdings in shares of Raymond James Financial by 5.6% in the first quarter. Portside Wealth Group LLC now owns 2,469 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 132 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Raymond James Financial by 9.0% in the first quarter. Farther Finance Advisors LLC now owns 994 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

About Raymond James Financial

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.