Raymond James Financial Inc. (RJF) Shares Gap Up to $56.04
Raymond James Financial Inc. (NYSE:RJF)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $55.85, but opened at $56.04. Raymond James Financial shares last traded at $56.55, with a volume of 205,141 shares.
A number of equities analysts have recently weighed in on RJF shares. Credit Suisse Group AG reissued a “buy” rating on shares of Raymond James Financial in a report on Wednesday, May 18th. Zacks Investment Research lowered Raymond James Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, June 22nd. Wells Fargo & Co. reiterated a “hold” rating on shares of Raymond James Financial in a research note on Thursday, May 12th. TheStreet upgraded Raymond James Financial from a “hold” rating to a “buy” rating in a research note on Monday, May 2nd. Finally, Nomura reiterated a “hold” rating on shares of Raymond James Financial in a research note on Monday, July 11th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Raymond James Financial currently has a consensus rating of “Buy” and a consensus price target of $60.18.
The firm has a market capitalization of $7.97 billion and a PE ratio of 16.85. The company’s 50-day moving average price is $54.13 and its 200 day moving average price is $50.37.
Raymond James Financial (NYSE:RJF) last issued its earnings results on Wednesday, July 20th. The company reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03. The business earned $1.36 billion during the quarter, compared to analyst estimates of $1.32 billion. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. On average, analysts forecast that Raymond James Financial Inc. will post $3.51 EPS for the current fiscal year.
In other news, insider George Catanese sold 4,158 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $53.89, for a total value of $224,074.62. Following the completion of the sale, the insider now owns 8,739 shares of the company’s stock, valued at $470,944.71. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Dennis W. Zank sold 15,000 shares of the firm’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $56.54, for a total value of $848,100.00. Following the completion of the sale, the chief operating officer now directly owns 158,379 shares of the company’s stock, valued at approximately $8,954,748.66. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Raymond James Financial stock. Suntrust Banks Inc. raised its stake in Raymond James Financial Inc. (NYSE:RJF) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 23,215 shares of the company’s stock after buying an additional 1,015 shares during the period. Suntrust Banks Inc.’s holdings in Raymond James Financial were worth $1,344,000 as of its most recent SEC filing.
Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.
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