Raymond James (NYSE:RJF) Price Target Increased to $152.00 by Analysts at Bank of America

Raymond James (NYSE:RJF) had its price objective increased by stock analysts at Bank of America from $136.00 to $152.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s target price indicates a potential upside of 4.89% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. UBS Group dropped their price target on shares of Raymond James from $138.00 to $135.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Wolfe Research reaffirmed a “peer perform” rating on shares of Raymond James in a research report on Monday, July 8th. JPMorgan Chase & Co. decreased their target price on shares of Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. TD Cowen raised their price target on Raymond James from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, July 8th. Finally, JMP Securities upped their price objective on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $137.36.

Raymond James Price Performance

Shares of RJF opened at $144.91 on Thursday. The company has a market capitalization of $30.04 billion, a P/E ratio of 17.52, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. Raymond James has a twelve month low of $93.91 and a twelve month high of $148.68. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $124.23 and a 200 day moving average of $121.37.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.54. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 EPS. As a group, equities research analysts anticipate that Raymond James will post 9.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Raymond James news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now directly owns 35,380 shares of the company’s stock, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Raymond James news, EVP Bella Loykhter Allaire sold 17,363 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now directly owns 75,586 shares in the company, valued at $8,692,390. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tashtego S. Elwyn sold 31,277 shares of Raymond James stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the sale, the chief executive officer now owns 35,380 shares in the company, valued at approximately $3,879,063.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Institutional Trading of Raymond James

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. Wolff Wiese Magana LLC grew its holdings in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after buying an additional 198 shares in the last quarter. Quarry LP purchased a new position in shares of Raymond James in the 2nd quarter worth approximately $29,000. Smithfield Trust Co lifted its stake in shares of Raymond James by 105.0% during the 1st quarter. Smithfield Trust Co now owns 246 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 126 shares during the last quarter. Covestor Ltd boosted its stake in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 104 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Raymond James in the third quarter worth about $32,000. 83.83% of the stock is currently owned by institutional investors.

About Raymond James

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.