M&T Bank Corp Grows Stock Holdings in Raymond James Financial, Inc. $RJF

M&T Bank Corp raised its holdings in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 181.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,509 shares of the financial services provider's stock after purchasing an additional 20,322 shares during the quarter. M&T Bank Corp's holdings in Raymond James Financial were worth $5,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RJF. West Branch Capital LLC bought a new stake in shares of Raymond James Financial in the 3rd quarter worth about $26,000. Salomon & Ludwin LLC bought a new position in shares of Raymond James Financial in the 3rd quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the fourth quarter worth about $32,000. Quent Capital LLC purchased a new position in Raymond James Financial in the third quarter worth about $33,000. Finally, Anfield Capital Management LLC bought a new stake in Raymond James Financial during the third quarter worth approximately $33,000. 83.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RJF has been the topic of a number of recent research reports. TD Cowen restated a "hold" rating and set a $159.00 price objective (up from $156.00) on shares of Raymond James Financial in a research report on Thursday. BMO Capital Markets boosted their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research report on Thursday. Barclays restated an "overweight" rating and set a $182.00 price target (up from $174.00) on shares of Raymond James Financial in a report on Thursday. UBS Group restated a "neutral" rating and issued a $166.00 price target (up from $158.00) on shares of Raymond James Financial in a research report on Thursday. Finally, Jefferies Financial Group dropped their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. Four analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $173.17.

Insiders Place Their Bets

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total value of $4,206,289.34. Following the sale, the insider owned 53,586 shares in the company, valued at $7,627,431.24. This trade represents a 35.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by insiders.

Raymond James Financial Stock Up 0.0%

Shares of NYSE RJF opened at $153.48 on Monday. Raymond James Financial, Inc. has a 1 year low of $133.89 and a 1 year high of $177.66. The firm has a 50-day simple moving average of $149.88 and a two-hundred day simple moving average of $158.51. The company has a market cap of $30.25 billion, a P/E ratio of 14.51, a PEG ratio of 1.19 and a beta of 1.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 EPS for the quarter, beating analysts' consensus estimates of $2.76 by $0.07. Raymond James Financial had a return on equity of 18.01% and a net margin of 13.04%.The firm had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the prior year, the firm posted $2.42 earnings per share. The company's quarterly revenue was up 13.4% on a year-over-year basis. Research analysts anticipate that Raymond James Financial, Inc. will post 11.68 earnings per share for the current year.

Raymond James Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Wednesday, April 1st were given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Wednesday, April 1st. Raymond James Financial's dividend payout ratio is 20.42%.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm's core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.

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