According to Zacks, “Raymond James remains well positioned to grow via acquisitions supported by strong liquidity position. In September, the company closed a deal to acquire U.S. Private Client Services unit of Deutsche Asset & Wealth Management. Further, loan growth coupled with improving economic environment will boost the company’s top line growth over the coming quarters. However, mounting expenses remains a major near-term concern. Also, higher bank loan provisions and increased dependence on domestic revenue could weigh on the company’s financials going forward.”
Other analysts also recently issued research reports about the stock. Nomura reduced their price target on shares of Raymond James Financial from $62.00 to $59.00 and set a neutral rating for the company in a research report on Monday, July 11th. Wells Fargo & Co. reissued a hold rating on shares of Raymond James Financial in a research report on Thursday, September 22nd. Finally, Credit Suisse Group AG set a $56.00 price target on shares of Raymond James Financial and gave the company a buy rating in a research report on Wednesday, July 20th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $59.89.
Raymond James Financial (NYSE:RJF) opened at 56.65 on Monday. The company has a 50 day moving average of $57.10 and a 200 day moving average of $52.70. Raymond James Financial has a 1-year low of $39.84 and a 1-year high of $59.81. The firm has a market capitalization of $8.00 billion, a P/E ratio of 16.92 and a beta of 1.50.
Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. Raymond James Financial had a net margin of 9.02% and a return on equity of 10.20%. The business earned $1.36 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter last year, the firm posted $0.91 EPS. Raymond James Financial’s revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Raymond James Financial will post $3.51 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, September 29th. Raymond James Financial’s payout ratio is 23.88%.
In related news, COO Dennis W. Zank sold 10,010 shares of Raymond James Financial stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $57.64, for a total value of $576,976.40. Following the completion of the sale, the chief operating officer now owns 148,369 shares of the company’s stock, valued at approximately $8,551,989.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jeffrey P. Julien sold 18,600 shares of Raymond James Financial stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $57.62, for a total value of $1,071,732.00. Following the completion of the sale, the chief financial officer now directly owns 46,407 shares of the company’s stock, valued at approximately $2,673,971.34. The disclosure for this sale can be found here. Insiders own 11.21% of the company’s stock.
Large investors have recently made changes to their positions in the company. Mizuho Asset Management Co. Ltd. raised its stake in shares of Raymond James Financial by 148.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,026 shares of the company’s stock valued at $100,000 after buying an additional 1,209 shares during the period. Advisor Group Inc. bought a new position in Raymond James Financial during the second quarter worth $158,000. Tower Research Capital LLC TRC raised its position in Raymond James Financial by 16.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,333 shares of the company’s stock worth $165,000 after buying an additional 475 shares during the last quarter. Creative Planning raised its position in Raymond James Financial by 4.6% in the second quarter. Creative Planning now owns 3,378 shares of the company’s stock worth $167,000 after buying an additional 149 shares during the last quarter. Finally, Strs Ohio raised its position in Raymond James Financial by 44.8% in the second quarter. Strs Ohio now owns 3,560 shares of the company’s stock worth $175,000 after buying an additional 1,101 shares during the last quarter. 70.38% of the stock is owned by institutional investors.
Raymond James Financial Company Profile
Raymond James Financial, Inc, is a financial services company providing private client, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank, and the Other Segment.
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