Comerica Bank Sells 3,069 Shares of Raymond James (NYSE:RJF)

Comerica Bank reduced its position in shares of Raymond James (NYSE:RJF) by 9.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,737 shares of the financial services provider’s stock after selling 3,069 shares during the quarter. Comerica Bank’s holdings in Raymond James were worth $4,619,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. CX Institutional raised its holdings in shares of Raymond James by 2.9% in the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock valued at $361,000 after purchasing an additional 66 shares during the period. Crestwood Advisors Group LLC raised its stake in Raymond James by 3.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock valued at $308,000 after buying an additional 67 shares during the period. Stablepoint Partners LLC lifted its position in shares of Raymond James by 0.5% in the fourth quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock valued at $2,276,000 after buying an additional 73 shares during the last quarter. Keybank National Association OH boosted its stake in shares of Raymond James by 0.7% during the 4th quarter. Keybank National Association OH now owns 11,248 shares of the financial services provider’s stock worth $1,747,000 after acquiring an additional 76 shares during the period. Finally, Private Trust Co. NA raised its stake in Raymond James by 23.9% in the 4th quarter. Private Trust Co. NA now owns 487 shares of the financial services provider’s stock valued at $76,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling at Raymond James

In related news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the sale, the insider now directly owns 78,227 shares of the company’s stock, valued at approximately $10,677,203.23. The trade was a 4.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.54% of the company’s stock.

Raymond James Price Performance

Shares of NYSE:RJF opened at $142.04 on Tuesday. The firm has a 50 day moving average of $138.72 and a 200-day moving average of $152.21. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $29.11 billion, a PE ratio of 13.86, a PEG ratio of 0.90 and a beta of 1.02.

Raymond James (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.02). The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.31 earnings per share. On average, equities research analysts predict that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.41%. The ex-dividend date was Tuesday, April 1st. Raymond James’s dividend payout ratio (DPR) is presently 19.25%.

Analysts Set New Price Targets

RJF has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $175.00 price objective on shares of Raymond James in a research report on Thursday, April 24th. Wells Fargo & Company lowered their price target on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley boosted their price objective on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Bank of America lowered Raymond James from a “buy” rating to a “neutral” rating and set a $159.00 target price on the stock. in a research note on Wednesday, April 30th. Finally, StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Eleven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $153.82.

Raymond James 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.