Raymond James Financial (NYSE:RJF) Given New $161.00 Price Target at TD Cowen

Key Points

• TD Cowen trimmed its price target on Raymond James Financial to $161 from $162 and kept a hold rating, implying slight downside from the prior close.
• The stock has a mixed analyst backdrop: several firms recently maintained or raised targets, but the overall consensus remains Hold with an average price target of $178.91.
• Raymond James posted a strong quarterly beat, reporting $3.14 EPS and $3.93 billion in revenue, both above estimates, while revenue rose 15.6% year over year.

Raymond James Financial (NYSE:RJF - Get Free Report) had its price objective lowered by equities researchers at TD Cowen from $162.00 to $161.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. TD Cowen's price objective would indicate a potential downside of 2.13% from the stock's previous close.

Several other equities research analysts have also issued reports on the stock. BMO Capital Markets reissued a "market perform" rating and issued a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday. Citigroup reiterated a "market outperform" rating on shares of Raymond James Financial in a research note on Thursday. Citizens Jmp increased their price target on Raymond James Financial from $200.00 to $205.00 and gave the stock a "market outperform" rating in a research report on Thursday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Raymond James Financial in a report on Wednesday, May 20th. Finally, Jefferies Financial Group cut their price objective on shares of Raymond James Financial from $165.00 to $145.00 and set a "hold" rating on the stock in a research note on Monday, April 6th. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $178.91.

Raymond James Financial Price Performance

RJF traded down $3.50 during trading on Thursday, reaching $164.51. 716,371 shares of the stock were exchanged, compared to its average volume of 1,419,191. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.05. The business's 50 day moving average price is $156.48 and its two-hundred day moving average price is $156.51. Raymond James Financial has a 1 year low of $138.82 and a 1 year high of $177.66. The company has a market capitalization of $32.06 billion, a price-to-earnings ratio of 15.54, a P/E/G ratio of 1.07 and a beta of 0.93.

Raymond James Financial (NYSE:RJF - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.23. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 17.93% and a net margin of 13.04%.Raymond James Financial's revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 earnings per share. As a group, equities research analysts anticipate that Raymond James Financial will post 11.84 earnings per share for the current year.

Institutional Investors Weigh In On Raymond James Financial

A number of large investors have recently bought and sold shares of RJF. Reflection Asset Management acquired a new stake in shares of Raymond James Financial in the fourth quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Raymond James Financial during the fourth quarter worth $32,000. Hilton Head Capital Partners LLC bought a new position in Raymond James Financial during the 4th quarter valued at about $35,000. Steigerwald Gordon & Koch Inc. raised its stake in shares of Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 228 shares during the last quarter. Finally, DV Equities LLC acquired a new position in Raymond James Financial in the fourth quarter worth $40,000. 83.83% of the stock is currently owned by institutional investors.

Key Stories Impacting Raymond James Financial

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.

About Raymond James Financial

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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