Basswood Capital Management L.L.C. Purchases 55,943 Shares of Raymond James Financial, Inc. $RJF

Basswood Capital Management L.L.C. grew its position in Raymond James Financial, Inc. (NYSE:RJF) by 56.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 155,430 shares of the financial services provider’s stock after buying an additional 55,943 shares during the quarter. Raymond James Financial accounts for approximately 1.0% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 28th biggest holding. Basswood Capital Management L.L.C.’s holdings in Raymond James Financial were worth $24,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Kestra Advisory Services LLC raised its holdings in Raymond James Financial by 257.6% during the fourth quarter. Kestra Advisory Services LLC now owns 25,357 shares of the financial services provider’s stock worth $4,072,000 after acquiring an additional 18,266 shares in the last quarter. Marshall Wace LLP raised its holdings in Raymond James Financial by 108.5% during the fourth quarter. Marshall Wace LLP now owns 145,719 shares of the financial services provider’s stock worth $23,401,000 after acquiring an additional 75,833 shares in the last quarter. Bridgewater Associates LP raised its holdings in Raymond James Financial by 96.3% during the fourth quarter. Bridgewater Associates LP now owns 63,619 shares of the financial services provider’s stock worth $10,217,000 after acquiring an additional 31,217 shares in the last quarter. Bank of Nova Scotia raised its holdings in Raymond James Financial by 202.9% during the fourth quarter. Bank of Nova Scotia now owns 68,452 shares of the financial services provider’s stock worth $10,993,000 after acquiring an additional 45,855 shares in the last quarter. Finally, Bragg Financial Advisors Inc raised its holdings in Raymond James Financial by 3.9% during the fourth quarter. Bragg Financial Advisors Inc now owns 92,557 shares of the financial services provider’s stock worth $14,864,000 after acquiring an additional 3,460 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on RJF shares. Morgan Stanley upped their target price on Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. UBS Group reiterated a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Barclays reiterated an “overweight” rating and set a $182.00 target price (up from $174.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, TD Cowen dropped their target price on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating on the stock in a report on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $172.92.

Raymond James Financial Price Performance

NYSE:RJF opened at $154.25 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average price is $151.05 and its two-hundred day moving average price is $156.53. The firm has a market capitalization of $30.06 billion, a price-to-earnings ratio of 14.58, a P/E/G ratio of 1.19 and a beta of 0.94. Raymond James Financial, Inc. has a 12-month low of $138.82 and a 12-month high of $177.66.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.07. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.42 earnings per share. On average, analysts anticipate that Raymond James Financial, Inc. will post 11.82 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Raymond James Financial’s payout ratio is presently 20.42%.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $142.34, for a total value of $4,206,289.34. Following the transaction, the insider directly owned 53,586 shares of the company’s stock, valued at $7,627,431.24. This represents a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

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.