Raymond James Financial (NYSE:RJF) Posts Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• EPS beat: Raymond James reported Q earnings of $2.83 per share, beating consensus by $0.07, while revenue of $3.86 billion missed estimates of $3.92 billion; revenue was up 13.4% year-over-year and the firm posted a 13.07% net margin and 17.65% ROE.
• The firm paid a quarterly dividend of $0.54 ($2.16 annualized, 1.4% yield) with a 21.14% payout ratio, and the stock trades around $154.14 with a market cap of $30.38 billion and a PE of 15.08.
• Market reaction was muted (stock down ~0.3% on higher volume), an insider sold 29,551 shares, and analysts remain mixed — consensus rating is Hold with an average target of $175.58 amid several recent price-target cuts.

Raymond James Financial (NYSE:RJF - Get Free Report) posted its quarterly earnings results on Wednesday. The financial services provider reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.07, FiscalAI reports. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. Raymond James Financial had a net margin of 13.07% and a return on equity of 17.65%. The firm's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 earnings per share.

Raymond James Financial Trading Down 0.3%

NYSE:RJF traded down $0.40 during trading hours on Wednesday, hitting $154.14. The company had a trading volume of 2,185,212 shares, compared to its average volume of 1,404,808. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 1.04. Raymond James Financial has a 52 week low of $131.85 and a 52 week high of $177.66. The company has a market capitalization of $30.38 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.16 and a beta of 1.00. The stock has a 50-day moving average price of $150.15 and a 200 day moving average price of $158.77.

Raymond James Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st were issued a $0.54 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $2.16 annualized dividend and a yield of 1.4%. Raymond James Financial's payout ratio is 21.14%.

Insider Buying and Selling at Raymond James Financial

In other Raymond James Financial news, insider Bella Loykhter Allaire sold 29,551 shares of Raymond James Financial stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $142.34, for a total transaction of $4,206,289.34. Following the sale, the insider directly owned 53,586 shares of the company's stock, valued at approximately $7,627,431.24. The trade was a 35.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.58% of the company's stock.

Hedge Funds Weigh In On Raymond James Financial

A number of institutional investors have recently added to or reduced their stakes in RJF. DV Equities LLC purchased a new stake in shares of Raymond James Financial in the 4th quarter worth about $40,000. South Dakota Investment Council purchased a new stake in Raymond James Financial in the fourth quarter worth about $80,000. Zions Bancorporation National Association UT increased its stake in shares of Raymond James Financial by 25.8% during the fourth quarter. Zions Bancorporation National Association UT now owns 497 shares of the financial services provider's stock valued at $80,000 after purchasing an additional 102 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Raymond James Financial during the third quarter valued at approximately $82,000. Finally, MUFG Securities EMEA plc purchased a new stake in shares of Raymond James Financial in the 2nd quarter worth approximately $83,000. Institutional investors own 83.83% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RJF shares. Jefferies Financial Group lowered their price objective 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. Weiss Ratings upgraded shares of Raymond James Financial from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, February 20th. TD Cowen reiterated a "hold" rating on shares of Raymond James Financial in a report on Wednesday, January 14th. Barclays dropped their price target on shares of Raymond James Financial from $196.00 to $174.00 and set an "overweight" rating for the company in a research report on Wednesday, April 8th. Finally, Morgan Stanley cut their price target on shares of Raymond James Financial from $187.00 to $171.00 and set an "equal weight" rating on the stock in a report on Friday, April 10th. Four research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $175.58.

About Raymond James Financial

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.