Curi RMB Capital LLC Buys 4,165 Shares of Raymond James Financial, Inc. $RJF

Key Points

• Curi RMB Capital LLC significantly increased its holdings in Raymond James Financial, raising its position by 85.5% during the first quarter, now owning 9,035 shares valued at approximately $1.25 million.
• Multiple analysts have raised their price targets for Raymond James Financial, with JMP Securities increasing theirs to $180.00 and the consensus price target currently at $163.80.
• Raymond James Financial announced a quarterly dividend of $0.50 per share, set to be paid on October 15, 2023, with a current yield of 1.2%.

Curi RMB Capital LLC grew its position in Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 85.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,035 shares of the financial services provider's stock after acquiring an additional 4,165 shares during the quarter. Curi RMB Capital LLC's holdings in Raymond James Financial were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RJF. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Raymond James Financial in the first quarter worth $25,000. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial in the 1st quarter worth $27,000. Golden State Wealth Management LLC increased its holdings in shares of Raymond James Financial by 164.0% in the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider's stock worth $28,000 after buying an additional 123 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial during the 1st quarter valued at about $33,000. Finally, TCTC Holdings LLC lifted its holdings in shares of Raymond James Financial by 72.9% in the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 121 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Trading Up 2.6%

RJF traded up $4.32 on Thursday, reaching $171.02. 1,472,735 shares of the company traded hands, compared to its average volume of 798,005. The company has a market cap of $34.10 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.37 and a beta of 1.04. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.33. Raymond James Financial, Inc. has a one year low of $115.91 and a one year high of $174.32. The firm has a fifty day simple moving average of $164.34 and a two-hundred day simple moving average of $150.79.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results 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 analysts' expectations of $3.38 billion. During the same period last year, the business posted $2.39 earnings per share. The business's revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts expect that Raymond James Financial, Inc. will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RJF shares. Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. JMP Securities boosted their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Morgan Stanley increased 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. Keefe, Bruyette & Woods lifted their price target on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Company 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.