Raymond James Financial, Inc. (NYSE:RJF) Sees Large Increase in Short Interest

Raymond James Financial, Inc. (NYSE:RJF) saw a large increase in short interest in October. As of October 31st, there was short interest totalling 2,647,883 shares, an increase of 39.7% from the October 13th total of 1,896,003 shares. Based on an average daily volume of 822,930 shares, the days-to-cover ratio is currently 3.2 days. Approximately 2.1% of the shares of the stock are sold short.

Raymond James Financial (NYSE:RJF) traded up $0.74 during midday trading on Thursday, hitting $88.46. The stock had a trading volume of 495,239 shares, compared to its average volume of 781,825. The company has a market capitalization of $12,753.45, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.88 and a beta of 1.71. Raymond James Financial has a 52-week low of $68.97 and a 52-week high of $91.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.14 and a current ratio of 1.16.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.15. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.67 billion. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The company’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.28 earnings per share. equities analysts expect that Raymond James Financial will post 5.89 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Wednesday, January 3rd will be given a dividend of $0.25 per share. This is a boost from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.13%. Raymond James Financial’s payout ratio is presently 20.32%.

A number of equities analysts have recently issued reports on RJF shares. Buckingham Research raised their price objective on Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded Raymond James Financial from a “buy” rating to a “hold” rating in a report on Tuesday, August 29th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a report on Tuesday, October 3rd. Credit Suisse Group started coverage on Raymond James Financial in a report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 target price for the company. Finally, Wells Fargo & Company upgraded Raymond James Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $86.00 to $90.00 in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $88.57.

In related news, CEO Steven M. Raney sold 9,890 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $88.95, for a total value of $879,715.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Francis S. Godbold sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total value of $3,847,950.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,812 shares of company stock worth $24,145,735. 11.18% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. purchased a new position in Raymond James Financial in the second quarter worth $225,000. Gateway Investment Advisers LLC boosted its position in Raymond James Financial by 3.6% in the second quarter. Gateway Investment Advisers LLC now owns 10,309 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 362 shares during the last quarter. Creative Planning boosted its position in Raymond James Financial by 30.3% in the second quarter. Creative Planning now owns 4,391 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 1,022 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Raymond James Financial by 71.5% in the second quarter. State of Alaska Department of Revenue now owns 7,269 shares of the financial services provider’s stock worth $583,000 after purchasing an additional 3,030 shares during the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its position in Raymond James Financial by 514.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 20,954 shares of the financial services provider’s stock worth $1,681,000 after purchasing an additional 17,546 shares during the last quarter. 69.86% of the stock is currently owned by institutional investors.

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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.

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