Raymond James Financial (NYSE:RJF) Price Target Raised to $179.00

Raymond James Financial (NYSE:RJF) had its target price upped by JPMorgan Chase & Co. from $175.00 to $179.00 in a research note released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the stock. Barclays increased their price target on shares of Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley boosted their price objective on shares of Raymond James Financial from $172.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Friday, July 10th. Jefferies Financial Group dropped their target price on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, April 6th. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research note on Thursday. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Raymond James Financial presently has a consensus rating of “Hold” and a consensus price target of $178.82.

Raymond James Financial Trading Up 1.9%

Shares of Raymond James Financial stock opened at $169.27 on Thursday. Raymond James Financial has a 12-month low of $138.82 and a 12-month high of $177.66. The stock has a market cap of $32.99 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.08 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $156.99 and its 200-day moving average is $156.61.

Raymond James Financial (NYSE:RJF) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a net margin of 13.57% and a return on equity of 19.17%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period last year, the business earned $2.18 earnings per share. Equities research analysts predict that Raymond James Financial will post 12.01 earnings per share for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given 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 payout ratio is 18.83%.

Hedge Funds Weigh In On Raymond James Financial

Several large investors have recently modified their holdings of RJF. Reflection Asset Management acquired a new stake in shares of Raymond James Financial during the 4th quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial in the 4th quarter valued at about $32,000. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial in the 4th quarter valued at about $35,000. Steigerwald Gordon & Koch Inc. lifted its position in Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 228 shares during the last quarter. Finally, DV Equities LLC acquired a new stake in Raymond James Financial during the fourth quarter worth approximately $40,000. 83.83% of the stock is owned by institutional investors.

Key Stories Impacting Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

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.