First Hawaiian Bank Purchases 11,771 Shares of Raymond James Financial, Inc. $RJF

First Hawaiian Bank increased its position in shares of Raymond James Financial, Inc. (NYSE:RJF) by 45.5% during the 1st quarter, Holdings Channel reports. The fund owned 37,631 shares of the financial services provider’s stock after buying an additional 11,771 shares during the quarter. First Hawaiian Bank’s holdings in Raymond James Financial were worth $5,227,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. boosted its stake in Raymond James Financial by 3.6% during the 1st quarter. D.A. Davidson & CO. now owns 5,603 shares of the financial services provider’s stock worth $778,000 after acquiring an additional 197 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Raymond James Financial by 164.0% in the first 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 in the last quarter. Jefferies Financial Group Inc. bought a new position in Raymond James Financial in the fourth quarter valued at approximately $9,366,000. Assenagon Asset Management S.A. lifted its stake in Raymond James Financial by 13.8% in the first quarter. Assenagon Asset Management S.A. now owns 24,979 shares of the financial services provider’s stock valued at $3,470,000 after buying an additional 3,035 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Raymond James Financial by 0.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 468,343 shares of the financial services provider’s stock valued at $65,058,000 after buying an additional 3,691 shares in the last quarter. Institutional investors own 83.83% of the company’s stock.

Raymond James Financial Stock Performance

Shares of RJF stock opened at $171.02 on Friday. The company’s fifty day simple moving average is $164.34 and its 200-day simple moving average is $150.79. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. The firm has a market cap of $34.10 billion, a PE ratio of 16.77, a P/E/G ratio of 1.37 and a beta of 1.04. Raymond James Financial, Inc. has a 12 month low of $115.91 and a 12 month high of $174.32.

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

Raymond James Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given 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 is Wednesday, October 1st. Raymond James Financial’s dividend payout ratio is 19.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of 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. Wells Fargo & Company lifted their price target on shares of 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. JMP Securities lifted their price target on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. JPMorgan Chase & Co. lifted their price target on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley boosted their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial currently has an average rating of “Hold” and an average price target of $163.80.

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.