Short Interest in Raymond James (NYSE:RJF) Rises By 9.8%

Raymond James (NYSE:RJF) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 1,912,000 shares, an increase of 9.8% from the June 30th total of 1,741,400 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average trading volume of 956,900 shares, the days-to-cover ratio is currently 2.0 days.

RJF stock traded up $0.44 during trading on Thursday, hitting $73.75. The company had a trading volume of 954,187 shares, compared to its average volume of 953,674. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 11.40 and a beta of 1.52. Raymond James has a 52-week low of $69.11 and a 52-week high of $96.76. The firm has a 50 day moving average of $82.24. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 1.08.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($0.06). Raymond James had a return on equity of 16.24% and a net margin of 13.06%. The company had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.94 billion. During the same period in the prior year, the business earned $1.55 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. As a group, analysts anticipate that Raymond James will post 7.4 earnings per share for the current year.

Several research analysts recently commented on the stock. Argus reaffirmed a “buy” rating on shares of Raymond James in a research note on Tuesday, April 30th. Citigroup set a $87.00 price target on shares of Raymond James and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, ValuEngine downgraded shares of Raymond James from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Raymond James presently has an average rating of “Buy” and an average target price of $93.88.

In other news, EVP Jonathan N. Santelli sold 725 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $84.82, for a total value of $61,494.50. Following the sale, the executive vice president now owns 3,003 shares of the company’s stock, valued at $254,714.46. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.74% of the company’s stock.

A number of institutional investors have recently modified their holdings of RJF. Parallel Advisors LLC grew its holdings in Raymond James by 215.3% during the 1st quarter. Parallel Advisors LLC now owns 309 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 211 shares in the last quarter. Atlas Capital Advisors LLC bought a new position in Raymond James during the 2nd quarter worth about $31,000. Motco bought a new position in Raymond James during the 2nd quarter worth about $31,000. Bremer Bank National Association bought a new position in Raymond James during the 1st quarter worth about $38,000. Finally, CSat Investment Advisory L.P. grew its holdings in Raymond James by 78.2% during the 2nd quarter. CSat Investment Advisory L.P. now owns 629 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 70.09% of the company’s stock.

About Raymond James

Raymond James Financial, Inc, a financial holding company, through its subsidiaries, engages in the underwriting, distribution, trading, and brokerage of equity and debt securities, and the sale of mutual funds and other investment products in the United States, Canada, Europe, and internationally. The company operates through Private Client Group, Capital Markets, Asset Management, RJ Bank, and Other segments.

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