Raymond James Financial Inc. (RJF) Stock Rating Reaffirmed by Nomura
Raymond James Financial Inc. (NYSE:RJF)‘s stock had its “hold” rating restated by Nomura in a research report issued on Friday. They presently have a $62.00 price objective on the stock. Nomura’s price objective suggests a potential upside of 6.84% from the stock’s current price.
RJF has been the topic of a number of other research reports. Zacks Investment Research raised Raymond James Financial from a “sell” rating to a “hold” rating and set a $65.00 price target on the stock in a research note on Monday, September 5th. Wells Fargo & Co. reissued a “hold” rating on shares of Raymond James Financial in a research note on Thursday, September 22nd. Finally, Credit Suisse Group AG set a $56.00 price target on Raymond James Financial and gave the stock a “buy” rating in a research note on Wednesday, July 20th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $60.22.
Shares of Raymond James Financial (NYSE:RJF) opened at 58.03 on Friday. Raymond James Financial has a 12 month low of $39.84 and a 12 month high of $59.81. The firm has a 50-day moving average of $57.21 and a 200 day moving average of $52.95. The firm has a market cap of $8.19 billion, a P/E ratio of 17.33 and a beta of 1.55.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Raymond James Financial had a return on equity of 10.20% and a net margin of 9.02%. Raymond James Financial’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, equities research analysts anticipate that Raymond James Financial will post $3.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.80 annualized dividend and a yield of 1.38%. Raymond James Financial’s dividend payout ratio (DPR) is presently 23.88%.
In other Raymond James Financial news, CFO Jeffrey P. Julien sold 18,600 shares of Raymond James Financial stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $57.62, for a total transaction of $1,071,732.00. Following the transaction, the chief financial officer now owns 46,407 shares of the company’s stock, valued at approximately $2,673,971.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Dennis W. Zank sold 10,010 shares of Raymond James Financial stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $57.64, for a total value of $576,976.40. Following the transaction, the chief operating officer now directly owns 148,369 shares in the company, valued at approximately $8,551,989.16. The disclosure for this sale can be found here. Company insiders own 11.21% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Chip Partners Inc. boosted its position in Raymond James Financial by 0.4% in the second quarter. Blue Chip Partners Inc. now owns 4,876 shares of the company’s stock valued at $240,000 after buying an additional 20 shares during the period. Montag & Caldwell LLC boosted its position in Raymond James Financial by 0.5% in the second quarter. Montag & Caldwell LLC now owns 19,011 shares of the company’s stock valued at $937,000 after buying an additional 90 shares during the period. Creative Planning boosted its position in Raymond James Financial by 4.6% in the second quarter. Creative Planning now owns 3,378 shares of the company’s stock valued at $167,000 after buying an additional 149 shares during the period. Utah Retirement Systems boosted its position in Raymond James Financial by 0.9% in the second quarter. Utah Retirement Systems now owns 23,047 shares of the company’s stock valued at $1,136,000 after buying an additional 200 shares during the period. Finally, BOKF NA boosted its position in Raymond James Financial by 1.0% in the second quarter. BOKF NA now owns 20,659 shares of the company’s stock valued at $1,019,000 after buying an additional 212 shares during the period. 70.38% of the stock is currently owned by institutional investors.
Raymond James Financial Company Profile
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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