Raymond James Financial (NYSE:RJF) Price Target Raised to $190.00

Key Points

• Raymond James Financial's stock price target has been increased from $185.00 to $190.00 by JMP Securities, indicating a potential upside of 14.53% based on the stock's previous close.
• The company reported $3.11 EPS in its latest quarterly earnings, exceeding analysts' expectations by $0.28, with revenue growing by 7.7% year-over-year.
• Current market sentiment is mixed, with one analyst rating the stock as a Strong Buy, three as Buy, and nine assigning it a Hold rating, leading to an average consensus price target of $172.70.

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price lifted by equities research analysts at JMP Securities from $185.00 to $190.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "market outperform" rating on the financial services provider's stock. JMP Securities' target price suggests a potential upside of 14.53% from the stock's previous close.

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets began coverage on shares of Raymond James Financial in a research note on Friday, October 3rd. They set a "market perform" rating and a $180.00 target price for the company. Wells Fargo & Company lifted 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 report on Friday, July 11th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Raymond James Financial in a report on Wednesday, October 8th. Keefe, Bruyette & Woods increased 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 research report on Thursday, July 24th. Finally, Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $172.70.

Raymond James Financial Trading Up 0.1%

Raymond James Financial stock opened at $165.90 on Thursday. The company has a 50 day moving average price of $167.38 and a 200 day moving average price of $155.82. Raymond James Financial has a 52 week low of $117.57 and a 52 week high of $177.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The firm has a market capitalization of $33.08 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 1.26 and a beta of 1.03.

Raymond James Financial (NYSE:RJF - Get Free Report) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $3.11 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.28. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the business posted $2.95 EPS. The company's revenue was up 7.7% on a year-over-year basis. Research analysts forecast that Raymond James Financial will post 11.17 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RJF. West Branch Capital LLC purchased a new position in shares of Raymond James Financial during the third quarter worth approximately $26,000. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial during the first quarter worth approximately $27,000. Golden State Wealth Management LLC grew its holdings in shares of Raymond James Financial by 164.0% in the first 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 during the last quarter. Salomon & Ludwin LLC purchased a new position in Raymond James Financial during the 3rd quarter valued at $31,000. Finally, Olde Wealth Management LLC purchased a new position in Raymond James Financial during the 1st quarter valued at $33,000. 83.83% of the stock is 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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