Raymond James Financial (NYSE:RJF) Price Target Raised to $200.00

Key Points

• Citizens JMP raised its price target on Raymond James Financial from $190 to $200 and kept a market outperform rating, implying about 17.45% upside from the prior close.
• Other analysts were mixed: Citigroup reiterated outperform, while Jefferies cut its target to $145 with a hold rating; overall, MarketBeat shows an average Hold rating and a $175.33 average target.
• The stock traded up 3.0% to $170.28, and the company recently reported Q1 earnings of $2.83 per share, beating estimates, on revenue of $3.86 billion.

Raymond James Financial (NYSE:RJF - Get Free Report) had its target price increased by analysts at Citizens Jmp from $190.00 to $200.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the financial services provider's stock. Citizens Jmp's price target would suggest a potential upside of 17.45% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. Citigroup reiterated an "outperform" rating on shares of Raymond James Financial in a report on Thursday. Jefferies Financial Group dropped their target price on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research report on Monday, April 6th. BMO Capital Markets upped their target price on Raymond James Financial from $152.00 to $165.00 and gave the company a "market perform" rating in a research note on Thursday, April 23rd. Barclays upped their target price on Raymond James Financial from $182.00 to $192.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $175.33.

Raymond James Financial Trading Up 3.0%

NYSE RJF traded up $4.93 on Thursday, hitting $170.28. 58,777 shares of the stock were exchanged, compared to its average volume of 1,424,090. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. The stock has a fifty day moving average price of $153.89 and a two-hundred day moving average price of $156.19. The firm has a market capitalization of $33.18 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.29 and a beta of 0.93. Raymond James Financial has a 52-week low of $138.82 and a 52-week high of $177.66.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.07. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.42 earnings per share. Research analysts forecast that Raymond James Financial will post 11.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Empowered Funds LLC lifted its position in shares of Raymond James Financial by 8.2% in the 1st quarter. Empowered Funds LLC now owns 4,142 shares of the financial services provider's stock worth $573,000 after purchasing an additional 314 shares during the period. Woodline Partners LP raised its stake in Raymond James Financial by 41.8% in the first quarter. Woodline Partners LP now owns 15,580 shares of the financial services provider's stock worth $2,164,000 after buying an additional 4,592 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Raymond James Financial by 137.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,184 shares of the financial services provider's stock worth $182,000 after buying an additional 685 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Raymond James Financial by 15.1% during the second quarter. Brown Advisory Inc. now owns 2,268 shares of the financial services provider's stock worth $348,000 after buying an additional 298 shares during the period. Finally, Cresset Asset Management LLC purchased a new stake in Raymond James Financial during the second quarter worth $363,000. 83.83% of the stock is currently owned by institutional investors.

Raymond James Financial Company Profile

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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