Bayforest Capital Ltd Has $689,000 Holdings in Raymond James Financial, Inc. $RJF

Key Points

• Bayforest Capital Ltd increased its holdings in Raymond James Financial, Inc. by 242.3% during Q1, owning a total of 4,960 shares valued at $689,000.
• Several institutional investors, including Thurston Springer Miller Herd & Titak Inc. and Alpine Bank Wealth Management, also purchased new positions in Raymond James Financial in the first quarter.
• A recent quarterly earnings report revealed that Raymond James Financial's EPS was $2.18, missing analysts' estimates of $2.36, despite a 5.3% year-over-year revenue increase to $3.40 billion.

Bayforest Capital Ltd grew its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 242.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,960 shares of the financial services provider's stock after acquiring an additional 3,511 shares during the quarter. Bayforest Capital Ltd's holdings in Raymond James Financial were worth $689,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Raymond James Financial by 1.6% in the first quarter. Vanguard Group Inc. now owns 22,244,204 shares of the financial services provider's stock worth $3,089,942,000 after acquiring an additional 347,916 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Raymond James Financial by 0.7% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,136,413 shares of the financial services provider's stock worth $574,590,000 after purchasing an additional 29,086 shares in the last quarter. Invesco Ltd. increased its holdings in Raymond James Financial by 19.1% during the 1st quarter. Invesco Ltd. now owns 2,901,435 shares of the financial services provider's stock worth $403,038,000 after purchasing an additional 466,129 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Raymond James Financial by 8.3% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,335,254 shares of the financial services provider's stock worth $324,390,000 after purchasing an additional 178,262 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Raymond James Financial by 6.7% during the 1st quarter. Northern Trust Corp now owns 2,247,922 shares of the financial services provider's stock worth $312,259,000 after purchasing an additional 140,704 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Stock Down 0.5%

Shares of NYSE RJF traded down $0.86 during mid-day trading on Friday, hitting $170.22. The company had a trading volume of 1,188,301 shares, compared to its average volume of 826,323. The company has a market capitalization of $33.94 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.40 and a beta of 1.04. The firm has a 50-day simple moving average of $164.55 and a two-hundred day simple moving average of $150.93. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a one year low of $116.89 and a one year high of $174.32.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the business earned $2.39 EPS. Raymond James Financial's revenue was up 5.3% on a year-over-year basis. On average, equities analysts expect that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Raymond James Financial's dividend payout ratio (DPR) is presently 19.61%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RJF. JMP Securities increased their target price on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. Wells Fargo & Company increased their target price on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a report on Monday, July 14th. JPMorgan Chase & Co. increased their target price on Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Morgan Stanley increased their target price on Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Raymond James Financial has a consensus rating of "Hold" and a consensus price target of $163.80.

Raymond James Financial Profile

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.