Raymond James Financial, Inc. $RJF Shares Bought by Tectonic Advisors LLC

Tectonic Advisors LLC boosted its stake in shares of Raymond James Financial, Inc. (NYSE:RJF) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,199 shares of the financial services provider’s stock after acquiring an additional 80 shares during the quarter. Tectonic Advisors LLC’s holdings in Raymond James Financial were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of RJF. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC lifted its holdings 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 buying an additional 123 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at approximately $33,000. TCTC Holdings LLC lifted its holdings in shares of Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after buying an additional 121 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in shares of Raymond James Financial by 364.3% in the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after buying an additional 255 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a report on Thursday. Wells Fargo & Company raised their price objective on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday. Keefe, Bruyette & Woods raised their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley raised their price objective on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $172.20.

Raymond James Financial Stock Performance

NYSE RJF opened at $160.36 on Friday. 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 business has a 50 day moving average price of $167.78 and a 200 day moving average price of $154.40. The company has a market capitalization of $31.97 billion, a P/E ratio of 15.72, a PEG ratio of 1.26 and a beta of 1.03. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66.

Raymond James Financial (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.39 earnings per share. Sell-side analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

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.