Czech National Bank Has $6.81 Million Stock Position in Raymond James Financial, Inc. $RJF

Key Points

• The Czech National Bank increased its holdings in Raymond James Financial by 4.8%, acquiring an additional 2,026 shares, bringing its total shares to 44,384 worth approximately $6.81 million.
• Several analysts have raised their price targets for Raymond James Financial, with JMP Securities setting it at $180.00, indicating positive market sentiment towards the stock.
• Raymond James Financial recently announced a quarterly dividend of $0.50 per share, which translates to an annualized yield of 1.2%.

Czech National Bank lifted its position in shares of Raymond James Financial, Inc. (NYSE:RJF - Free Report) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,384 shares of the financial services provider's stock after buying an additional 2,026 shares during the period. Czech National Bank's holdings in Raymond James Financial were worth $6,807,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial during the first quarter worth $25,000. Alpine Bank Wealth Management acquired a new position in shares of Raymond James Financial during the first quarter worth $27,000. Golden State Wealth Management LLC boosted its stake 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 acquiring an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new position in Raymond James Financial in the first quarter valued at $33,000. Finally, TCTC Holdings LLC boosted its stake 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 acquiring an additional 121 shares in the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RJF. Wells Fargo & Company increased their target price on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their target price on shares of Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods raised their price objective 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. JMP Securities raised their target price on shares of Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Finally, Morgan Stanley lifted their price target on shares of Raymond James Financial from $136.00 to $180.00 and gave the company an "equal weight" rating in a report on Tuesday, July 15th. One research 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 stock. According to data from MarketBeat.com, Raymond James Financial presently has an average rating of "Hold" and an average target price of $163.80.

Raymond James Financial Price Performance

RJF stock traded up $0.22 on Friday, hitting $174.15. 3,059,693 shares of the company's stock traded hands, compared to its average volume of 1,283,093. Raymond James Financial, Inc. has a 1-year low of $117.57 and a 1-year high of $175.27. The stock has a market cap of $34.72 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.40 and a beta of 1.04. The stock has a fifty day moving average of $165.50 and a 200-day moving average of $151.44. 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 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.18). The business had revenue of $3.40 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $2.39 earnings per share. On average, analysts forecast that Raymond James Financial, Inc. will post 11.17 EPS for the current fiscal year.

Raymond James Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's dividend payout ratio is currently 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.