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

Key Points

• Raymond James Financial, Inc. has received a consensus rating of "Hold" from analysts, with 8 hold, 3 buy, and 1 strong buy recommendations.
• The company recently announced a quarterly dividend of $0.50 per share, translating to an annualized yield of 1.2%.
• Raymond James Financial reported $2.18 earnings per share for the last quarter, which fell short of analysts' expectations by $0.18.

Shares of Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) have earned a consensus rating of "Hold" from the twelve ratings firms that are currently covering the firm, MarketBeat reports. Eight research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $163.80.

A number of brokerages have recently commented on RJF. JMP Securities increased their price target on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research note on Monday, July 14th. Morgan Stanley increased their price target on 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. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research note on Monday, July 14th. Wells Fargo & Company increased their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. increased their price target on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th.

Raymond James Financial Trading Down 1.1%

Shares of RJF stock opened at $168.47 on Tuesday. The stock's fifty day moving average price is $164.77 and its two-hundred day moving average price is $151.02. The company has a market cap of $33.59 billion, a PE ratio of 16.52, a P/E/G ratio of 1.40 and a beta of 1.04. Raymond James Financial has a fifty-two week low of $117.57 and a fifty-two week high of $174.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). The business had revenue of $3.40 billion during 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 company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.39 EPS. Equities analysts predict that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Raymond James Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 1st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, October 1st. Raymond James Financial's dividend payout ratio (DPR) is currently 19.61%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RJF. Thurston Springer Miller Herd & Titak Inc. bought a new position in Raymond James Financial during the 1st quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC grew its stake 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 valued at $28,000 after buying an additional 123 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of Raymond James Financial in the 1st quarter valued at about $33,000. Finally, Princeton Global Asset Management LLC boosted its stake in Raymond James Financial by 69.0% during the 2nd quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 100 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

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.

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