Raymond James Financial (NYSE:RJF) Price Target Raised to $190.00

Raymond James Financial (NYSE:RJF) had its price objective boosted by equities researchers at JMP Securities from $185.00 to $190.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ target price points to a potential upside of 14.53% from the stock’s current price.

A number of other equities research analysts also recently issued reports on RJF. JPMorgan Chase & Co. boosted their price target on Raymond James Financial from $172.00 to $178.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Wells Fargo & Company increased their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a report on Thursday, October 9th. Keefe, Bruyette & Woods increased their price target on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets began coverage on Raymond James Financial in a report on Friday, October 3rd. They issued a “market perform” rating and a $180.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $172.70.

Raymond James Financial Stock Performance

Raymond James Financial stock opened at $165.90 on Thursday. The firm has a market capitalization of $33.08 billion, a P/E ratio of 16.26, a PEG ratio of 1.26 and a beta of 1.03. The stock has a fifty day moving average price of $167.38 and a 200 day moving average price of $155.82. Raymond James Financial has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, beating the consensus estimate of $2.83 by $0.28. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a return on equity of 18.38% and a net margin of 13.56%.The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.95 earnings per share. Equities research analysts anticipate that Raymond James Financial will post 11.17 earnings per share for the current year.

Institutional Trading of Raymond James Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. West Branch Capital LLC purchased a new stake in Raymond James Financial in the 3rd quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new position in Raymond James Financial in the 3rd quarter valued at approximately $31,000. Alpine Bank Wealth Management purchased a new position in Raymond James Financial in the 1st quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its holdings in 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 purchasing an additional 123 shares during the period. Finally, Olde Wealth Management LLC bought a new position in Raymond James Financial in the 1st quarter valued at $33,000. Institutional investors own 83.83% of the company’s stock.

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.