First United Bank & Trust Has $382,000 Position in Raymond James Financial, Inc. $RJF

Key Points

• First United Bank & Trust increased its stake in Raymond James Financial by 136.0%, bringing its total to 2,490 shares valued at $382,000.
• Wall Street analysts have raised their target prices for Raymond James Financial, with a consensus price target now set at $165.30 and a majority rating of "Hold."
• Raymond James Financial recently reported earnings of $2.18 per share, falling short of estimates, and announced a quarterly dividend of $0.50.

First United Bank & Trust boosted its holdings in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 136.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,490 shares of the financial services provider's stock after buying an additional 1,435 shares during the period. First United Bank & Trust's holdings in Raymond James Financial were worth $382,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RJF. Wealth Enhancement Advisory Services LLC lifted its holdings in Raymond James Financial by 11.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 42,628 shares of the financial services provider's stock valued at $6,621,000 after buying an additional 4,269 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in Raymond James Financial by 32.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 788 shares of the financial services provider's stock valued at $109,000 after buying an additional 195 shares during the period. GAMMA Investing LLC increased its stake in Raymond James Financial by 25,259.8% in the first quarter. GAMMA Investing LLC now owns 674,825 shares of the financial services provider's stock valued at $93,740,000 after purchasing an additional 672,164 shares in the last quarter. Parallel Advisors LLC increased its stake in Raymond James Financial by 5.8% in the first quarter. Parallel Advisors LLC now owns 2,383 shares of the financial services provider's stock valued at $331,000 after purchasing an additional 131 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in Raymond James Financial by 7.5% in the first quarter. Fifth Third Wealth Advisors LLC now owns 3,579 shares of the financial services provider's stock valued at $497,000 after purchasing an additional 250 shares in the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. JMP Securities upped their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. upped their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods upped 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 research note on Thursday, July 24th. Morgan Stanley upped their target price on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 15th. Finally, Wells Fargo & Company increased their price objective on shares of 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $165.30.

Raymond James Financial Stock Up 0.4%

Raymond James Financial stock opened at $176.36 on Tuesday. The company has a market cap of $35.16 billion, a P/E ratio of 17.29, a price-to-earnings-growth ratio of 1.44 and a beta of 1.04. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $177.66. The company has a fifty day simple moving average of $167.74 and a 200 day simple moving average of $153.16. 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 (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the business posted $2.39 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. 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.

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