Raymond James (NYSE:RJF) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank increased its position in Raymond James (NYSE:RJF) by 45.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,631 shares of the financial services provider’s stock after purchasing an additional 11,771 shares during the period. First Hawaiian Bank’s holdings in Raymond James were worth $5,227,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RJF. TCTC Holdings LLC lifted its holdings in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 127 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 217 shares during the last quarter. Covestor Ltd lifted its holdings in Raymond James by 56.7% in the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. bought a new position in Raymond James in the fourth quarter worth about $53,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RJF. The Goldman Sachs Group cut their target price on shares of Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. dropped their target price on Raymond James from $149.00 to $143.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. Wall Street Zen cut Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $175.00 price target on shares of Raymond James in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Eleven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus price target of $153.82.

Insider Activity

In other news, insider James E. Bunn sold 3,650 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $136.49, for a total value 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. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Raymond James Trading Down 1.2%

Shares of NYSE:RJF opened at $146.30 on Thursday. The stock has a market capitalization of $29.52 billion, a PE ratio of 14.27, a P/E/G ratio of 0.90 and a beta of 1.02. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The firm has a fifty day moving average price of $140.20 and a 200 day moving average price of $152.29. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

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

Raymond James Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Tuesday, July 1st. Raymond James’s dividend payout ratio is presently 19.25%.

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.