Raymond James (NYSE:RJF) Short Interest Up 21.2% in March

Raymond James (NYSE:RJF) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 7,610,000 shares, an increase of 21.2% from the March 15th total of 6,280,000 shares. Based on an average trading volume of 1,570,000 shares, the days-to-cover ratio is presently 4.8 days. Approximately 3.7% of the company’s shares are sold short.

Raymond James Trading Down 1.8 %

Shares of RJF stock traded down $2.45 on Monday, reaching $131.01. 1,592,572 shares of the stock were exchanged, compared to its average volume of 1,294,534. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. Raymond James has a 1-year low of $104.24 and a 1-year high of $174.32. The stock has a market cap of $26.85 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The firm has a 50 day moving average of $142.34 and a two-hundred day moving average of $151.74.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, research analysts anticipate that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.53%. Raymond James’s dividend payout ratio is presently 19.51%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RJF. Keefe, Bruyette & Woods upped their target price on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. JMP Securities cut their target price on Raymond James from $190.00 to $175.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective on shares of Raymond James from $176.00 to $143.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. raised their price objective on shares of Raymond James from $166.00 to $172.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Citigroup cut their price target on shares of Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a report on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.27.

Institutional Trading of Raymond James

Several institutional investors have recently added to or reduced their stakes in RJF. Barclays PLC lifted its position in shares of Raymond James by 33.5% in the 3rd quarter. Barclays PLC now owns 847,108 shares of the financial services provider’s stock worth $103,738,000 after buying an additional 212,697 shares during the last quarter. Virtu Financial LLC bought a new position in Raymond James during the 3rd quarter valued at $308,000. Pine Valley Investments Ltd Liability Co lifted its stake in Raymond James by 18.7% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,788 shares of the financial services provider’s stock valued at $341,000 after purchasing an additional 439 shares during the last quarter. World Investment Advisors LLC grew its holdings in shares of Raymond James by 7.3% in the 3rd quarter. World Investment Advisors LLC now owns 28,290 shares of the financial services provider’s stock worth $3,464,000 after acquiring an additional 1,924 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in Raymond James by 1.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 67,439 shares of the financial services provider’s stock valued at $8,259,000 after buying an additional 1,026 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Raymond James 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.