Bank of America Increases Raymond James Financial (NYSE:RJF) Price Target to $196.00

Raymond James Financial (NYSE:RJF) had its price target lifted by Bank of America from $194.00 to $196.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 18.47% from the company’s previous close.

A number of other brokerages also recently weighed in on RJF. JPMorgan Chase & Co. raised their target price on shares of Raymond James Financial from $178.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Keefe, Bruyette & Woods increased their price target on shares of Raymond James Financial from $174.00 to $181.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. JMP Securities lifted their price objective on shares of Raymond James Financial from $185.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. BMO Capital Markets upped their target price on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Morgan Stanley raised their price target on Raymond James Financial from $176.00 to $184.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Raymond James Financial presently has an average rating of “Hold” and a consensus price target of $180.90.

Raymond James Financial Price Performance

NYSE RJF traded up $0.51 during trading hours on Wednesday, hitting $165.44. The company had a trading volume of 300,046 shares, compared to its average volume of 1,263,981. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.04 and a current ratio of 1.07. The firm has a market capitalization of $32.54 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 1.22 and a beta of 0.99. Raymond James Financial has a 52 week low of $117.57 and a 52 week high of $177.66. The firm has a 50 day simple moving average of $160.70 and a 200 day simple moving average of $160.72.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.83 by $0.28. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.64 billion. Raymond James Financial had a net margin of 13.42% and a return on equity of 18.19%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.95 earnings per share. Equities research analysts expect that Raymond James Financial will post 11.17 earnings per share for the current year.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds have recently added to or reduced their stakes in the stock. Great Valley Advisor Group Inc. raised its holdings in Raymond James Financial by 1.5% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider’s stock worth $625,000 after acquiring an additional 61 shares during the last quarter. Meridian Wealth Advisors LLC raised its stake in shares of Raymond James Financial by 0.6% in the third quarter. Meridian Wealth Advisors LLC now owns 10,216 shares of the financial services provider’s stock worth $1,763,000 after purchasing an additional 62 shares during the last quarter. Waterloo Capital L.P. lifted its holdings in shares of Raymond James Financial by 2.0% during the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider’s stock valued at $506,000 after purchasing an additional 64 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Raymond James Financial by 0.6% during the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider’s stock valued at $1,727,000 after buying an additional 64 shares during the last quarter. Finally, Tectonic Advisors LLC increased its holdings in Raymond James Financial by 2.0% in the 3rd quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider’s stock worth $563,000 after buying an additional 65 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

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.