Raymond James Financial (NYSE:RJF) Issues Quarterly Earnings Results

Raymond James Financial (NYSE:RJF) posted its earnings results on Wednesday. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.21, FiscalAI reports. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.87 billion.

Raymond James Financial Price Performance

NYSE RJF traded up $0.42 on Wednesday, reaching $168.35. 1,449,543 shares of the stock traded hands, compared to its average volume of 1,424,525. Raymond James Financial has a 12 month low of $138.82 and a 12 month high of $177.66. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 15.91, a P/E/G ratio of 1.07 and a beta of 0.93. The firm’s fifty day simple moving average is $156.19 and its 200 day simple moving average is $156.45. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s dividend payout ratio (DPR) is presently 20.42%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RJF. UBS Group restated a “neutral” rating and set a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. Barclays boosted their target price on shares of Raymond James Financial from $182.00 to $192.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Jefferies Financial Group decreased their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, April 6th. Morgan Stanley raised their price target on shares of Raymond James Financial from $172.00 to $174.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Finally, Citigroup reiterated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $176.64.

Institutional Trading of Raymond James Financial

Institutional investors have recently modified their holdings of the company. EFG International AG acquired a new stake in Raymond James Financial in the 4th quarter valued at about $781,000. Empowered Funds LLC grew its stake in shares of Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider’s stock worth $573,000 after purchasing an additional 314 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Raymond James Financial in the 2nd quarter worth approximately $554,000. Engineers Gate Manager LP raised its holdings in shares of Raymond James Financial by 66.2% in the 4th quarter. Engineers Gate Manager LP now owns 3,267 shares of the financial services provider’s stock worth $525,000 after purchasing an additional 1,301 shares in the last quarter. Finally, Blair William & Co. IL lifted its stake in Raymond James Financial by 29.0% during the fourth quarter. Blair William & Co. IL now owns 2,888 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 650 shares during the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.