Analysts Set Raymond James Financial, Inc. (NYSE:RJF) Price Target at $177.20

Shares of Raymond James Financial, Inc. (NYSE:RJF) have earned an average rating of “Hold” from the thirteen analysts that are covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $177.20.

Several research analysts recently issued reports on RJF shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their target price on Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Cowen restated a “hold” rating on shares of Raymond James Financial in a research report on Thursday, October 23rd. JMP Securities upped their price target on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 23rd. Finally, Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th.

Institutional Trading of Raymond James Financial

Several hedge funds have recently modified their holdings of RJF. West Branch Capital LLC acquired a new position in shares of Raymond James Financial in the 3rd quarter worth approximately $26,000. Salomon & Ludwin LLC bought a new position in Raymond James Financial in the 3rd quarter valued at $31,000. Quent Capital LLC bought a new position in Raymond James Financial in the 3rd quarter valued at $33,000. Princeton Global Asset Management LLC boosted its stake in Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 100 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in shares of Raymond James Financial by 72.9% during the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Stock Up 1.3%

Shares of RJF stock opened at $162.92 on Wednesday. Raymond James Financial has a one year low of $117.57 and a one year high of $177.66. 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 stock has a fifty day moving average price of $166.11 and a 200 day moving average price of $158.67. The stock has a market cap of $32.48 billion, a P/E ratio of 15.83, a price-to-earnings-growth ratio of 1.19 and a beta of 1.05.

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

Raymond James Financial Dividend Announcement

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

About Raymond James Financial

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.