Raymond James Financial, Inc. (NYSE:RJF) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Raymond James Financial, Inc. (NYSE:RJF) have received an average rating of “Hold” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $176.6364.

Several analysts have commented on RJF shares. Citigroup reissued an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 9th. BMO Capital Markets lifted their price target on shares of Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, April 23rd. Morgan Stanley upped their price target on Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. 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 research note on Thursday, May 28th.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $168.41 on Monday. Raymond James Financial has a 12 month low of $138.82 and a 12 month high of $177.66. The stock’s fifty day moving average price is $155.56 and its 200-day moving average price is $156.41. The firm has a market cap of $32.82 billion, a P/E ratio of 15.92, a P/E/G ratio of 1.08 and a beta of 0.93. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

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 analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the firm earned $2.42 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that Raymond James Financial will post 11.84 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.54 dividend. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is 20.42%.

Hedge Funds Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently bought and sold shares of RJF. Reflection Asset Management acquired a new stake in shares of Raymond James Financial during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial during the 4th quarter valued at about $32,000. Harbor Investment Advisory LLC increased its stake in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Raymond James Financial in the 4th quarter valued at about $35,000. Finally, Steigerwald Gordon & Koch Inc. raised its holdings in Raymond James Financial by 760.0% in the 1st quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

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.