Raymond James Financial (NYSE:RJF) Rating Increased to Hold at BMO Capital Markets

Key Points

• BMO Capital Markets has upgraded Raymond James Financial (NYSE:RJF) to a "hold" rating, reflecting a shift in analysts' perspectives on the stock.
• Several analysts have raised their target prices for RJF, with Morgan Stanley setting a new target of $184.00 and JMP Securities increasing it to $180.00.
• Raymond James Financial reported earnings of $2.18 per share for the last quarter, which was below the estimated $2.36, but with a revenue increase of 5.3% year-over-year.

Raymond James Financial (NYSE:RJF - Get Free Report) was upgraded by stock analysts at BMO Capital Markets to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

RJF has been the topic of several other reports. Morgan Stanley upped their target price on Raymond James Financial from $176.00 to $184.00 and gave the company an "equal weight" rating in a research report on Wednesday. JMP Securities upped their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Raymond James Financial from $151.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods upped their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Finally, Citigroup reissued a "neutral" rating and issued a $180.00 price objective (up from $170.00) on shares of Raymond James Financial in a report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial has an average rating of "Hold" and an average target price of $171.10.

Raymond James Financial Trading Up 0.1%

Shares of NYSE:RJF opened at $166.64 on Thursday. The business's 50-day moving average is $168.04 and its 200 day moving average is $153.70. Raymond James Financial has a 1 year low of $117.57 and a 1 year high of $177.66. The firm has a market capitalization of $33.22 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.28 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.04 and a quick ratio of 1.02.

Raymond James Financial (NYSE:RJF - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.18). Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The business had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the company earned $2.39 earnings per share. The company's quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts predict that Raymond James Financial will post 11.17 earnings per share for the current fiscal year.

Institutional Trading of Raymond James Financial

Hedge funds have recently modified their holdings of the stock. 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 purchased a new stake in shares of Raymond James Financial in the first quarter worth about $27,000. Golden State Wealth Management LLC boosted its stake 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 buying an additional 123 shares during the last quarter. Olde Wealth Management LLC purchased a new stake in shares of Raymond James Financial in the first quarter worth about $33,000. Finally, Princeton Global Asset Management LLC boosted its stake in shares of Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider's stock worth $38,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

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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