Raymond James Financial (NYSE:RJF – Get Free Report) had its target price lowered by investment analysts at TD Cowen from $162.00 to $161.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. TD Cowen’s price target points to a potential downside of 2.13% from the stock’s current price.
RJF has been the topic of several other research reports. Citizens Jmp raised their price objective on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research note on Thursday. BMO Capital Markets restated a “market perform” rating and issued a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday. UBS Group reaffirmed a “neutral” rating and set a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. Morgan Stanley lifted their price objective on Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a report on Friday, July 10th. 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 research report on Monday, April 6th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $178.91.
Get Our Latest Stock Analysis on RJF
Raymond James Financial Trading Down 2.1%
Raymond James Financial (NYSE:RJF – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the business posted $2.18 earnings per share. Analysts predict that Raymond James Financial will post 11.84 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new stake in Raymond James Financial in the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at about $32,000. Hilton Head Capital Partners LLC bought a new stake in Raymond James Financial during the fourth quarter worth about $35,000. DV Equities LLC acquired a new position in Raymond James Financial during the fourth quarter valued at approximately $40,000. Finally, Salomon & Ludwin LLC increased its position in shares of Raymond James Financial by 34.8% during the 4th quarter. Salomon & Ludwin LLC now owns 252 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.
Key Stories Impacting Raymond James Financial
Here are the key news stories impacting Raymond James Financial this week:
- Positive Sentiment: Raymond James delivered an earnings beat, with EPS of $3.14 and revenue of $3.93 billion both topping estimates, reinforcing confidence in the company’s profitability. Article Title
- Positive Sentiment: Record revenues, record earnings per share, and a 42% year-over-year jump in net income highlight broad-based business strength across private client, capital markets, asset management, and banking. Article Title
- Positive Sentiment: Key growth metrics were strong, including $21.7 billion in domestic private client net new assets and record client assets under administration of $1.92 trillion, suggesting continued asset-gathering momentum. Article Title
- Positive Sentiment: Analysts turned more constructive after the report, with Barclays raising its price target to $196 and Citizens JMP lifting its target to $205, both signaling upside expectations for RJF. Article Title
- Neutral Sentiment: The company repurchased $400 million of stock during the quarter and still has $1.1 billion remaining under its buyback authorization, which supports capital return but is largely in line with expectations.
- Neutral Sentiment: The quarter also included a $26 million credit-loss benefit in the bank segment and a lower tax rate, which helped results but may not recur at the same level.
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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