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

Raymond James Financial, Inc. (NYSE:RJF - Get Free Report) has been given an average recommendation of "Hold" by the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $172.20.

A number of equities research analysts recently issued reports on RJF shares. JMP Securities boosted their target price on shares of Raymond James Financial from $180.00 to $185.00 and gave the company a "market outperform" rating in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Raymond James Financial from $172.00 to $178.00 and gave the company a "neutral" rating in a report on Tuesday. Weiss Ratings restated a "hold (c+)" rating on shares of Raymond James Financial in a report on Wednesday. BMO Capital Markets initiated coverage on shares of Raymond James Financial in a report on Friday, October 3rd. They issued a "market perform" rating and a $180.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted 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.

Raymond James Financial Price Performance

Raymond James Financial stock opened at $160.36 on Friday. Raymond James Financial has a 1 year low of $117.57 and a 1 year high of $177.66. The firm has a 50 day moving average price of $167.78 and a 200 day moving average price of $154.40. The company has a market cap of $31.97 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.26 and a beta of 1.03. 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 released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.38 billion. During the same quarter in the previous year, the firm posted $2.39 earnings per share. Raymond James Financial's revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts predict that Raymond James Financial will post 11.17 earnings per share for the current year.

Raymond James Financial Dividend Announcement

The firm 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 dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, October 1st. Raymond James Financial's payout ratio is currently 19.61%.

Institutional Investors Weigh In On Raymond James Financial

Several institutional investors have recently bought and sold shares of the business. Great Valley Advisor Group Inc. grew its stake in Raymond James Financial by 1.5% during the second quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock worth $625,000 after buying an additional 61 shares during the period. Waterloo Capital L.P. grew its stake in Raymond James Financial by 2.0% during the second quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider's stock worth $506,000 after buying an additional 64 shares during the period. Wedmont Private Capital boosted its stake in shares of Raymond James Financial by 0.6% in the third quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider's stock valued at $1,727,000 after purchasing an additional 64 shares during the period. Level Four Advisory Services LLC boosted its stake in shares of Raymond James Financial by 2.4% in the second quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider's stock valued at $442,000 after purchasing an additional 67 shares during the period. Finally, Capital Investment Advisors LLC boosted its stake in shares of Raymond James Financial by 0.9% in the second quarter. Capital Investment Advisors LLC now owns 7,629 shares of the financial services provider's stock valued at $1,170,000 after purchasing an additional 68 shares during the period. 83.83% of the stock is currently owned by hedge funds and other 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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