JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Raymond James Financial (NYSE:RJF) Stock

Key Points

• JPMorgan raised its price target on Raymond James Financial to $179 from $175, while keeping a neutral rating. The new target implies about 8.3% upside from the prior close.
• Other analysts were mixed but generally constructive: Barclays lifted its target to $196 with an overweight rating, while TD Cowen trimmed its target slightly to $161 and stayed at hold. Overall, Raymond James has an average Hold rating and a consensus target of $178.82.
• The company recently posted a strong quarterly beat, with EPS of $3.14 and revenue of $3.93 billion both topping estimates. Revenue rose 15.6% year over year, and analysts expect full-year EPS of 11.84.

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price raised by analysts at JPMorgan Chase & Co. from $175.00 to $179.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 8.31% from the company's previous close.

A number of other equities research analysts have also weighed in on the stock. Barclays upped their target price on shares of Raymond James Financial from $192.00 to $196.00 and gave the stock an "overweight" rating in a report on Thursday. TD Cowen cut their price objective on shares of Raymond James Financial from $162.00 to $161.00 and set a "hold" rating for the company in a research note on Thursday. Citigroup reissued a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday. BMO Capital Markets restated a "market perform" rating and set a $175.00 target price (up from $160.00) on shares of Raymond James Financial in a report on Thursday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial has an average rating of "Hold" and an average price target of $178.82.

Raymond James Financial Price Performance

Shares of RJF traded down $2.74 during trading hours on Thursday, hitting $165.27. 871,426 shares of the company were exchanged, compared to its average volume of 1,420,224. The company has a market cap of $32.21 billion, a price-to-earnings ratio of 15.59, a P/E/G ratio of 1.07 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. Raymond James Financial has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The firm's fifty day moving average is $156.48 and its 200 day moving average is $156.51.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.23. The firm had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $3.87 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.The business's revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.18 earnings per share. On average, equities analysts anticipate that Raymond James Financial will post 11.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Raymond James Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Reflection Asset Management acquired a new position in shares of Raymond James Financial during the fourth quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Raymond James Financial during the fourth quarter worth $32,000. Hilton Head Capital Partners LLC purchased a new stake in Raymond James Financial in the 4th quarter valued at approximately $35,000. Steigerwald Gordon & Koch Inc. lifted its stake in shares of Raymond James Financial by 760.0% during the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider's stock valued at $37,000 after buying an additional 228 shares during the period. Finally, DV Equities LLC purchased a new position in shares of Raymond James Financial during the 4th quarter worth about $40,000. Institutional investors and hedge funds own 83.83% of the company's stock.

Key Raymond James Financial News

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James delivered an earnings beat, with EPS of $3.14 and revenue of $3.93 billion both topping estimates, reinforcing confidence in the company’s profitability. Article Title
• Positive Sentiment: Record revenues, record earnings per share, and a 42% year-over-year jump in net income highlight broad-based business strength across private client, capital markets, asset management, and banking. Article Title
• Positive Sentiment: Key growth metrics were strong, including $21.7 billion in domestic private client net new assets and record client assets under administration of $1.92 trillion, suggesting continued asset-gathering momentum. Article Title
• Positive Sentiment: Analysts turned more constructive after the report, with Barclays raising its price target to $196 and Citizens JMP lifting its target to $205, both signaling upside expectations for RJF. Article Title
• Neutral Sentiment: The company repurchased $400 million of stock during the quarter and still has $1.1 billion remaining under its buyback authorization, which supports capital return but is largely in line with expectations.
• Neutral Sentiment: The quarter also included a $26 million credit-loss benefit in the bank segment and a lower tax rate, which helped results but may not recur at the same level.

Raymond James Financial Company Profile

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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