Raymond James Financial, Inc. $RJF Shares Bought by BNP Paribas Financial Markets

Key Points

• BNP Paribas Financial Markets increased its stake in Raymond James Financial by 17.1%, holding 578,705 shares valued at approximately $80.4 million as of the latest SEC filing.
• Raymond James Financial reported earnings per share of $2.18 for the last quarter, missing estimates, but had a revenue of $3.40 billion, exceeding expectations.
• The company announced a $0.50 quarterly dividend, resulting in an annualized dividend of $2.00 and a yield of 1.2%.

BNP Paribas Financial Markets boosted its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 17.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578,705 shares of the financial services provider's stock after purchasing an additional 84,582 shares during the period. BNP Paribas Financial Markets owned about 0.29% of Raymond James Financial worth $80,388,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the first quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new position in Raymond James Financial in the first quarter valued at about $27,000. Golden State Wealth Management LLC increased its holdings in Raymond James Financial by 164.0% in the first quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock valued at $28,000 after buying an additional 123 shares in the last quarter. Olde Wealth Management LLC purchased a new position in Raymond James Financial in the first quarter valued at about $33,000. Finally, TCTC Holdings LLC increased its holdings in Raymond James Financial by 72.9% in the first quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after buying an additional 121 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RJF. Keefe, Bruyette & Woods increased their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Wells Fargo & Company increased their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Morgan Stanley raised their price objective on shares of Raymond James Financial from $136.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. raised their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, JMP Securities raised their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $163.80.

Raymond James Financial Trading Up 2.0%

NYSE RJF traded up $3.33 during mid-day trading on Thursday, reaching $169.89. 138,997 shares of the stock were exchanged, compared to its average volume of 1,280,631. Raymond James Financial, Inc. has a 1-year low of $113.91 and a 1-year high of $174.32. The business's fifty day simple moving average is $162.87 and its 200 day simple moving average is $150.33. The stock has a market capitalization of $33.87 billion, a PE ratio of 16.66, a PEG ratio of 1.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (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 firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business posted $2.39 EPS. The firm's revenue was up 5.3% compared to the same quarter last year. 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 Announces Dividend

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

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.