BidaskClub lowered shares of Raymond James Financial, Inc. (NYSE:RJF) from a buy rating to a hold rating in a research report released on Sunday.

Several other equities analysts have also commented on RJF. Nomura reaffirmed a buy rating and set a $91.00 target price on shares of Raymond James Financial in a report on Sunday, April 9th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $85.00 target price on shares of Raymond James Financial in a report on Wednesday, May 24th. Instinet reduced their target price on shares of Raymond James Financial to $89.00 and set a buy rating on the stock in a report on Thursday, May 25th. Wells Fargo & Company reaffirmed a market perform rating and set a $85.00 target price (up previously from $82.50) on shares of Raymond James Financial in a report on Monday, June 12th. Finally, Buckingham Research reaffirmed a buy rating and set a $94.00 target price (up previously from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $87.50.

Raymond James Financial (NYSE RJF) traded down 0.10% during trading on Friday, reaching $82.82. 268,239 shares of the company traded hands. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 19.70 and a beta of 1.65. Raymond James Financial has a 12-month low of $54.71 and a 12-month high of $85.97. The firm’s 50 day moving average price is $81.09 and its 200 day moving average price is $77.11.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.02. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.57%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the firm earned $0.93 EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. Equities research analysts expect that Raymond James Financial will post $5.10 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Raymond James Financial, Inc. (NYSE:RJF) Lowered to Hold at BidaskClub” was originally published by Daily Political and is the property of of Daily Political. If you are reading this news story on another site, it was stolen and republished in violation of US and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2017/08/07/raymond-james-financial-inc-nyserjf-lowered-to-hold-at-bidaskclub.html.

The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Thursday, June 29th. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.90%.

In other news, EVP Jonathan N. Santelli sold 1,880 shares of Raymond James Financial stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $73.30, for a total transaction of $137,804.00. Following the sale, the executive vice president now owns 3,000 shares of the company’s stock, valued at approximately $219,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $82.83, for a total transaction of $331,320.00. Following the sale, the insider now directly owns 37,513 shares in the company, valued at approximately $3,107,201.79. The disclosure for this sale can be found here. 11.18% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. YorkBridge Wealth Partners LLC raised its stake in shares of Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock worth $102,000 after buying an additional 52 shares during the last quarter. Independent Portfolio Consultants Inc. raised its stake in shares of Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock worth $138,000 after buying an additional 40 shares during the last quarter. Burt Wealth Advisors bought a new stake in shares of Raymond James Financial during the second quarter worth $150,000. Americafirst Capital Management LLC bought a new stake in shares of Raymond James Financial during the first quarter worth $168,000. Finally, Global X Management Co. LLC raised its stake in shares of Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock worth $176,000 after buying an additional 690 shares during the last quarter. 70.87% of the stock is currently owned by hedge funds and other institutional investors.

Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

Receive News & Ratings for Raymond James Financial Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Raymond James Financial Inc. and related companies with MarketBeat.com's FREE daily email newsletter.