Bryn Mawr Trust Advisors LLC Invests $212,000 in Raymond James Financial, Inc. $RJF

Bryn Mawr Trust Advisors LLC acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, Holdings Channel.com reports. The firm acquired 1,380 shares of the financial services provider’s stock, valued at approximately $212,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Abacus Planning Group Inc. bought a new stake in shares of Raymond James Financial in the second quarter worth about $222,000. Swedbank AB raised its position 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 valued at $4,846,000 after purchasing an additional 20,022 shares during the last quarter. Bridgewater Advisors Inc. purchased a new stake in Raymond James Financial in the 1st quarter worth approximately $761,000. MQS Management LLC bought a new stake in shares of Raymond James Financial in the 1st quarter worth approximately $527,000. Finally, Victory Capital Management Inc. increased its stake in shares of Raymond James Financial by 1,502.0% during the first quarter. Victory Capital Management Inc. now owns 1,883,139 shares of the financial services provider’s stock valued at $261,587,000 after buying an additional 1,765,588 shares during the period. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Up 1.3%

Shares of Raymond James Financial stock opened at $162.92 on Monday. Raymond James Financial, Inc. has a 1 year low of $117.57 and a 1 year high of $177.66. The firm has a market cap of $32.48 billion, a price-to-earnings ratio of 15.83, a PEG ratio of 1.19 and a beta of 1.05. The company has a 50-day moving average of $166.11 and a 200 day moving average of $158.67. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping the consensus estimate of $2.83 by $0.28. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.33%. Raymond James Financial’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. As a group, sell-side analysts anticipate that Raymond James Financial, Inc. will post 11.17 earnings per share for the current fiscal year.

Raymond James Financial Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RJF. BMO Capital Markets raised their price target on Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Raymond James Financial from $178.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. TD Cowen lifted their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. Cowen reiterated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $177.20.

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.