Raymond James Financial (NYSE:RJF – Get Free Report) had its price target upped by equities researchers at Citizens Jmp from $190.00 to $200.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s target price points to a potential upside of 18.94% from the stock’s previous close.
Several other equities analysts also recently commented on RJF. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday. BMO Capital Markets upped their price target on Raymond James Financial from $152.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, April 23rd. TD Cowen dropped their price objective on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a research note on Thursday, May 28th. Barclays boosted their target price on shares of Raymond James Financial from $182.00 to $192.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $176.64.
View Our Latest Analysis on Raymond James Financial
Raymond James Financial Trading Down 0.3%
Raymond James Financial (NYSE:RJF – Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $2.42 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts forecast that Raymond James Financial will post 11.76 earnings per share for the current fiscal year.
Institutional Trading of Raymond James Financial
Several large investors have recently made changes to their positions in RJF. Kingsview Wealth Management LLC raised its stake in shares of Raymond James Financial by 586.7% in the fourth quarter. Kingsview Wealth Management LLC now owns 20,374 shares of the financial services provider’s stock worth $3,272,000 after acquiring an additional 17,407 shares during the last quarter. Algebris UK Ltd. acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at approximately $10,179,000. Fisher Asset Management LLC raised its position in Raymond James Financial by 6.9% in the 4th quarter. Fisher Asset Management LLC now owns 392,663 shares of the financial services provider’s stock worth $63,058,000 after purchasing an additional 25,410 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Raymond James Financial by 7.2% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 107,794 shares of the financial services provider’s stock worth $17,343,000 after buying an additional 7,202 shares in the last quarter. Finally, Swedbank AB boosted its position in Raymond James Financial by 31.1% in the 4th quarter. Swedbank AB now owns 41,436 shares of the financial services provider’s stock valued at $6,654,000 after buying an additional 9,838 shares during the last quarter. Institutional investors own 83.83% of the company’s stock.
Key Headlines Impacting Raymond James Financial
Here are the key news stories impacting Raymond James Financial this week:
- Positive Sentiment: Several analysts turned more constructive on Raymond James Financial after earnings, including Citizens JMP raising its price target to $200 and Barclays lifting its target to $192 with an overweight rating, signaling expectations for further upside. Raymond James Financial (NYSE:RJF) Given New $200.00 Price Target at Citizens Jmp
- Positive Sentiment: Morgan Stanley also raised its target to $174, and a separate article suggested RJF could be about 3% undervalued after posting strong quarterly results, reinforcing the case that recent fundamentals may be better than the market is pricing in. Raymond James Financial (RJF) Could Be 3% Undervalued After Strong Quarterly Results
- Neutral Sentiment: UBS kept a hold rating on Raymond James Financial, indicating some analysts still see limited near-term upside despite the recent positive momentum. UBS Sticks to Their Hold Rating for Raymond James Financial (RJF)
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.
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