Raymond James Financial (NYSE:RJF) Now Covered by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets has initiated coverage on Raymond James Financial (NYSE:RJF) with a "market perform" rating and a price target of $180.00, indicating an 8.10% potential upside from its current price.
• Raymond James recently reported earnings per share of $2.18 for the last quarter, which was below analysts' expectations of $2.36, but the company's revenue increased by 5.3% year-over-year.
• The stock currently has a consensus rating of "Hold" from analysts, with a notable distribution of ratings: one Strong Buy, two Buy, and ten Hold ratings.

Equities researchers at BMO Capital Markets began coverage on shares of Raymond James Financial (NYSE:RJF - Get Free Report) in a report released on Friday,Benzinga reports. The brokerage set a "market perform" rating and a $180.00 price target on the financial services provider's stock. BMO Capital Markets' price target indicates a potential upside of 8.10% from the company's current price.

RJF has been the subject of several other research reports. Wells Fargo & Company boosted their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. increased their price objective on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Morgan Stanley boosted their target price on Raymond James Financial from $176.00 to $184.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their price target on Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Finally, JMP Securities boosted their price target on Raymond James Financial from $175.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $167.00.

Raymond James Financial Stock Up 0.4%

Shares of NYSE RJF opened at $166.51 on Friday. Raymond James Financial has a 12-month low of $117.57 and a 12-month high of $177.66. The stock's fifty day simple moving average is $168.07 and its two-hundred day simple moving average is $153.54. The stock has a market capitalization of $33.20 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.21 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.33.

Raymond James Financial (NYSE:RJF - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. Raymond James Financial's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.39 EPS. As a group, analysts expect that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial in the first quarter worth about $25,000. Alpine Bank Wealth Management acquired a new position in Raymond James Financial in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted its position in 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 worth $28,000 after purchasing an additional 123 shares in the last quarter. Olde Wealth Management LLC acquired a new stake in shares of Raymond James Financial during the 1st quarter worth approximately $33,000. Finally, Princeton Global Asset Management LLC increased its holdings in shares of 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 in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

About Raymond James Financial

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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