Bayforest Capital Ltd Has $438,000 Stake in Raymond James Financial, Inc. $RJF

Key Points

• Bayforest Capital Ltd reduced its stake in Raymond James Financial by 42.4%, owning 2,857 shares valued at approximately $438,000, as per its latest SEC 13F filing.
• Raymond James Financial reported a Q2 earnings per share of $2.18, which was below analysts' estimates of $2.36, despite a 5.3% year-over-year increase in revenue.
• The company declared a quarterly dividend of $0.50, representing an annualized dividend yield of 1.2% with a payout ratio of 19.61%.

Bayforest Capital Ltd decreased its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 42.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,857 shares of the financial services provider's stock after selling 2,103 shares during the quarter. Bayforest Capital Ltd's holdings in Raymond James Financial were worth $438,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of RJF. Capital Investment Advisors LLC increased its holdings in Raymond James Financial by 0.9% in the second quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider's stock valued at $1,170,000 after purchasing an additional 68 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Raymond James Financial by 2.2% in the first quarter. Venturi Wealth Management LLC now owns 3,318 shares of the financial services provider's stock worth $461,000 after acquiring an additional 73 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Raymond James Financial by 5.5% in the first quarter. EP Wealth Advisors LLC now owns 1,506 shares of the financial services provider's stock worth $209,000 after acquiring an additional 78 shares in the last quarter. Tectonic Advisors LLC increased its holdings in shares of Raymond James Financial by 2.6% in the second quarter. Tectonic Advisors LLC now owns 3,199 shares of the financial services provider's stock worth $491,000 after acquiring an additional 80 shares in the last quarter. Finally, Cigna Investments Inc. New increased its holdings in shares of Raymond James Financial by 4.1% in the first quarter. Cigna Investments Inc. New now owns 2,044 shares of the financial services provider's stock worth $284,000 after acquiring an additional 81 shares in the last quarter. Institutional investors own 83.83% of the company's stock.

Raymond James Financial Stock Performance

Shares of Raymond James Financial stock opened at $163.63 on Thursday. Raymond James Financial, Inc. has a one year low of $117.57 and a one year high of $177.66. The firm has a market capitalization of $32.62 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.24 and a beta of 1.03. The business has a 50-day simple moving average of $167.51 and a 200 day simple moving average of $154.82. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

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

Raymond James Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st were paid a $0.50 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $2.00 annualized dividend and a yield of 1.2%. Raymond James Financial's dividend payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Raymond James Financial in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on Raymond James Financial from $172.00 to $178.00 and gave the company a "neutral" rating in a research note on Tuesday, October 7th. Finally, Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $172.20.

About Raymond James Financial

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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