Raymond James Financial, Inc. (NYSE:RJF) Given Average Rating of "Hold" by Analysts

Key Points

• Analysts are broadly neutral on Raymond James Financial, with 12 covering analysts averaging a “Hold” rating; eight rate it hold and four rate it buy. The average 12-month price target is about $176.64.
• The company recently beat earnings expectations, reporting $2.83 EPS versus the $2.76 consensus, while revenue rose 13.4% year over year to $3.86 billion. Analysts now expect full-year EPS of 11.83.
• Raymond James also announced a quarterly dividend of $0.54 per share, payable July 15, which annualizes to $2.16 and a 1.3% yield. The payout ratio is relatively modest at 20.42%.

Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) has been assigned an average recommendation of "Hold" from the twelve analysts that are presently covering the stock, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $176.6364.

Several equities research analysts have weighed in on RJF shares. Barclays increased their price objective on Raymond James Financial from $182.00 to $192.00 and gave the stock an "overweight" rating in a report on Thursday. Weiss Ratings restated a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Citigroup reaffirmed an "outperform" rating on shares of Raymond James Financial in a research note on Thursday. Citizens Jmp lifted their price target on shares of Raymond James Financial from $190.00 to $200.00 and gave the company a "market outperform" rating in a report on Thursday. Finally, UBS Group reissued a "neutral" rating and set a $175.00 price objective (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday.

Raymond James Financial Stock Performance

Shares of NYSE:RJF opened at $168.15 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $154.40 and a 200-day moving average price of $156.25. The company has a market cap of $32.77 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.07 and a beta of 0.93. Raymond James Financial has a 12 month low of $138.82 and a 12 month high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. The company had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.92 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial's quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm earned $2.42 earnings per share. As a group, equities analysts anticipate that Raymond James Financial will post 11.83 EPS for the current year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial's payout ratio is presently 20.42%.

Hedge Funds Weigh In On Raymond James Financial

Institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in Raymond James Financial by 8.2% during the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock valued at $573,000 after acquiring an additional 314 shares in the last quarter. Woodline Partners LP raised its position in shares of Raymond James Financial by 41.8% in the 1st quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock worth $2,164,000 after acquiring an additional 4,592 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Raymond James Financial by 137.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider's stock valued at $182,000 after purchasing an additional 685 shares during the period. Brown Advisory Inc. lifted its stake in shares of Raymond James Financial by 15.1% in the 2nd quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider's stock valued at $348,000 after purchasing an additional 298 shares during the period. Finally, Cresset Asset Management LLC bought a new stake in shares of Raymond James Financial during the second quarter valued at approximately $363,000. 83.83% of the stock is owned by institutional investors.

Raymond James Financial News Summary

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

• Positive Sentiment: Several analysts turned more constructive on Raymond James Financial after earnings, including Citizens JMP raising its price target to $200 and Barclays lifting its target to $192 with an overweight rating, signaling expectations for further upside. Raymond James Financial NYSE: RJF Given New $200.00 Price Target at Citizens Jmp
• Positive Sentiment: Morgan Stanley also raised its target to $174, and a separate article suggested RJF could be about 3% undervalued after posting strong quarterly results, reinforcing the case that recent fundamentals may be better than the market is pricing in. Raymond James Financial (RJF) Could Be 3% Undervalued After Strong Quarterly Results
• Neutral Sentiment: UBS kept a hold rating on Raymond James Financial, indicating some analysts still see limited near-term upside despite the recent positive momentum. UBS Sticks to Their Hold Rating for Raymond James Financial (RJF)

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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