Bank of New Hampshire Boosts Stock Position in Raymond James Financial, Inc. $RJF

Bank of New Hampshire grew its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,504 shares of the financial services provider’s stock after buying an additional 669 shares during the quarter. Bank of New Hampshire’s holdings in Raymond James Financial were worth $1,764,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial during the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC lifted its position in shares of Raymond James Financial by 164.0% during the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC acquired a new position in Raymond James Financial in the first quarter worth about $33,000. Finally, TCTC Holdings LLC increased its holdings in Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after buying an additional 121 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. JMP Securities increased their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a “market outperform” rating in a report on Monday, July 14th. Keefe, Bruyette & Woods raised their price objective on 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. Citigroup reaffirmed an “outperform” rating on shares of Raymond James Financial in a report on Monday, July 14th. Wells Fargo & Company increased their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $163.80.

Raymond James Financial Stock Performance

RJF opened at $168.47 on Tuesday. The business has a 50 day moving average price of $164.77 and a two-hundred day moving average price of $151.02. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02. The company has a market capitalization of $33.59 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $174.32.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.18). The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.39 EPS. Research analysts predict that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial’s payout ratio is 19.61%.

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.