BMO Capital Markets Increases Raymond James Financial (NYSE:RJF) Price Target to $165.00

Raymond James Financial (NYSE:RJF) had its price objective boosted by investment analysts at BMO Capital Markets from $152.00 to $165.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price target points to a potential upside of 6.66% from the company’s previous close.

RJF has been the topic of a number of other reports. Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. UBS Group cut their price target on shares of Raymond James Financial from $176.00 to $158.00 and set a “neutral” rating on the stock in a report on Wednesday, April 8th. Morgan Stanley lowered their price objective on shares of Raymond James Financial from $187.00 to $171.00 and set an “equal weight” rating for the company in a research note on Friday, April 10th. Weiss Ratings upgraded shares of Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Finally, Barclays reissued an “overweight” rating on shares of Raymond James Financial in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $174.17.

Raymond James Financial Trading Up 0.1%

NYSE RJF opened at $154.69 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.06 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $30.49 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 1.18 and a beta of 1.00. The stock’s 50-day simple moving average is $150.06 and its two-hundred day simple moving average is $158.74. Raymond James Financial has a twelve month low of $131.85 and a twelve month high of $177.66.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the firm posted $2.42 EPS. Raymond James Financial’s revenue for the quarter was up 13.4% compared to the same quarter last year. Research analysts forecast that Raymond James Financial will post 11.73 EPS for the current fiscal year.

Insider Buying and Selling at Raymond James Financial

In other news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the completion of the transaction, the insider directly owned 53,586 shares in the company, valued at approximately $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On Raymond James Financial

Hedge funds have recently added to or reduced their stakes in the stock. West Branch Capital LLC purchased a new position in shares of Raymond James Financial in the 3rd quarter worth about $26,000. Reflection Asset Management purchased a new stake in Raymond James Financial during the 4th quarter valued at about $28,000. Salomon & Ludwin LLC bought a new stake in Raymond James Financial during the 3rd quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial during the 4th quarter valued at about $32,000. Finally, Quent Capital LLC purchased a new position in Raymond James Financial in the third quarter worth about $33,000. 83.83% of the stock is owned by institutional investors.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.