Raymond James Financial (NYSE:RJF) Price Target Raised to $182.00

Key Points

• BMO Capital Markets has raised the price target for Raymond James Financial from $180 to $182, indicating a potential upside of 9.71% from the stock's previous close.
• Raymond James Financial reported $3.11 earnings per share for the quarter, surpassing expectations of $2.83, with a revenue of $3.73 billion.
• The company currently holds a consensus rating of "Hold," with 83.83% of its stock owned by institutional investors and hedge funds.

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price boosted by equities researchers at BMO Capital Markets from $180.00 to $182.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "market perform" rating on the financial services provider's stock. BMO Capital Markets' price target points to a potential upside of 9.71% from the stock's previous close.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Raymond James Financial from $172.00 to $178.00 and gave the company a "neutral" rating in a report on Tuesday, October 7th. JMP Securities raised their price objective on Raymond James Financial from $185.00 to $190.00 and gave the company a "market outperform" rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a "market perform" rating in a report on Thursday, July 24th. Wells Fargo & Company increased their price target on shares of Raymond James Financial from $155.00 to $163.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley raised their price target on shares of Raymond James Financial from $176.00 to $184.00 and gave the company an "equal weight" rating in a report on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $172.90.

Raymond James Financial Trading Up 0.1%

NYSE:RJF opened at $165.90 on Thursday. The firm has a 50-day simple moving average of $167.38 and a 200-day simple moving average of $155.82. Raymond James Financial has a one year low of $117.57 and a one year high of $177.66. The firm has a market cap of $33.08 billion, a P/E ratio of 16.26, a P/E/G 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 issued its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.28. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. Raymond James Financial's revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $2.95 earnings per share. Equities analysts anticipate that Raymond James Financial will post 11.17 EPS for the current fiscal year.

Institutional Trading of Raymond James Financial

A number of institutional investors have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. grew its position in Raymond James Financial by 1.5% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 4,076 shares of the financial services provider's stock worth $625,000 after purchasing an additional 61 shares during the period. Waterloo Capital L.P. lifted its holdings in shares of Raymond James Financial by 2.0% in the 2nd quarter. Waterloo Capital L.P. now owns 3,302 shares of the financial services provider's stock valued at $506,000 after buying an additional 64 shares during the period. Wedmont Private Capital lifted its holdings in shares of Raymond James Financial by 0.6% in the 3rd quarter. Wedmont Private Capital now owns 10,425 shares of the financial services provider's stock valued at $1,727,000 after buying an additional 64 shares during the period. Tectonic Advisors LLC boosted its stake in shares of Raymond James Financial by 2.0% in the third quarter. Tectonic Advisors LLC now owns 3,264 shares of the financial services provider's stock worth $563,000 after buying an additional 65 shares during the last quarter. Finally, Level Four Advisory Services LLC grew its holdings in Raymond James Financial by 2.4% during the second quarter. Level Four Advisory Services LLC now owns 2,880 shares of the financial services provider's stock worth $442,000 after acquiring an additional 67 shares during the period. 83.83% of the stock is currently owned by institutional investors and hedge funds.

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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