Raymond James Financial (NYSE:RJF) Price Target Raised to $181.00

Raymond James Financial (NYSE:RJF) had its price objective increased by Keefe, Bruyette & Woods from $174.00 to $181.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

RJF has been the topic of a number of other reports. Cowen reaffirmed a “hold” rating on shares of Raymond James Financial in a research note on Thursday. TD Cowen raised their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley upped their price objective on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a report on Wednesday, October 1st. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Finally, BMO Capital Markets upped their price target on Raymond James Financial from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus target price of $177.20.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $162.25 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial has a 1-year low of $117.57 and a 1-year high of $177.66. The stock has a market capitalization of $32.35 billion, a P/E ratio of 15.77, a P/E/G ratio of 1.24 and a beta of 1.03. The business has a 50-day moving average price of $167.36 and a two-hundred day moving average price of $156.58.

Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.28. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm earned $2.95 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts predict that Raymond James Financial will post 11.17 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.44%.

Institutional Trading of Raymond James Financial

A number of large investors have recently bought and sold shares of RJF. D.A. Davidson & CO. boosted its holdings in shares of Raymond James Financial by 3.6% in the first quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock valued at $778,000 after buying an additional 197 shares during the period. Abacus Planning Group Inc. acquired a new position in Raymond James Financial in the 2nd quarter worth $222,000. Swedbank AB increased its holdings in Raymond James Financial by 173.0% during the 2nd quarter. Swedbank AB now owns 31,598 shares of the financial services provider’s stock worth $4,846,000 after purchasing an additional 20,022 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 123 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Raymond James Financial by 0.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider’s stock valued at $65,058,000 after purchasing an additional 3,691 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

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.