North Reef Capital Management LP Buys New Shares in Raymond James Financial, Inc. $RJF

North Reef Capital Management LP purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 159,162 shares of the financial services provider’s stock, valued at approximately $23,045,000. Raymond James Financial accounts for approximately 0.8% of North Reef Capital Management LP’s investment portfolio, making the stock its 28th largest position. North Reef Capital Management LP owned 0.08% of Raymond James Financial as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Reflection Asset Management purchased a new position in shares of Raymond James Financial during the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Raymond James Financial during the 4th quarter valued at approximately $32,000. Hilton Head Capital Partners LLC purchased a new stake in Raymond James Financial in the 4th quarter worth approximately $35,000. Steigerwald Gordon & Koch Inc. increased its holdings in Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 228 shares in the last quarter. Finally, DV Equities LLC bought a new stake in Raymond James Financial during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Raymond James Financial from $175.00 to $179.00 and gave the stock a “neutral” rating in a research note on Thursday. Morgan Stanley raised their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday. Finally, UBS Group reaffirmed a “neutral” rating and issued a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a report on Wednesday, July 8th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $178.82.

Raymond James Financial Trading Up 1.9%

RJF stock opened at $169.27 on Friday. Raymond James Financial, Inc. has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.08 and a beta of 0.93. The business has a 50 day simple moving average of $156.99 and a two-hundred day simple moving average of $156.61.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The company’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. Research analysts anticipate that Raymond James Financial, Inc. will post 12.01 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is currently 18.83%.

Key Headlines Impacting Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

About Raymond James Financial

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.