Raymond James Financial (NYSE:RJF) Price Target Raised to $180.00

Raymond James Financial (NYSE:RJF) had its target price increased by JPMorgan Chase & Co. from $178.00 to $180.00 in a report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Several other brokerages have also recently weighed in on RJF. Wells Fargo & Company boosted their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Morgan Stanley upped their price target on Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 1st. JMP Securities lifted their price objective on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday. Cowen restated a “hold” rating on shares of Raymond James Financial in a report on Thursday. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial has an average rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Stock Down 1.7%

NYSE RJF opened at $162.25 on Thursday. The business has a fifty day moving average price of $167.36 and a 200 day moving average price of $156.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market cap of $32.35 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.24 and a beta of 1.03. Raymond James Financial has a one year low of $117.57 and a one year high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.28. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.95 EPS. Research analysts anticipate that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Raymond James Financial’s payout ratio is currently 19.44%.

Institutional Investors Weigh In On Raymond James Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of Raymond James Financial by 82.6% in the first quarter. GAMMA Investing LLC now owns 4,858 shares of the financial services provider’s stock valued at $675,000 after purchasing an additional 2,197 shares in the last quarter. GHP Investment Advisors Inc. bought a new position in Raymond James Financial in the 1st quarter worth approximately $907,000. Asset Management One Co. Ltd. raised its holdings in Raymond James Financial by 10.3% during the first quarter. Asset Management One Co. Ltd. now owns 82,808 shares of the financial services provider’s stock worth $11,503,000 after purchasing an additional 7,715 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in Raymond James Financial by 0.8% during the first quarter. Chevy Chase Trust Holdings LLC now owns 96,778 shares of the financial services provider’s stock valued at $13,443,000 after purchasing an additional 765 shares during the last quarter. Finally, Moran Wealth Management LLC boosted its position in shares of Raymond James Financial by 12.3% in the first quarter. Moran Wealth Management LLC now owns 36,814 shares of the financial services provider’s stock worth $5,114,000 after buying an additional 4,035 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Raymond James Financial Company Profile

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.