Raymond James Financial (NYSE:RJF) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays raised its price target on Raymond James Financial from $182 to $192 and kept an overweight rating, implying about 13.48% upside from the previous close.
• Other analysts remain mixed: Jefferies and TD Cowen cut targets and kept hold ratings, while UBS slightly lifted its target and Citigroup reiterated outperform. Overall, MarketBeat shows a Hold consensus with a $174.50 average target.
• Raymond James recently reported better-than-expected earnings of $2.83 per share, though revenue slightly missed estimates; the stock was also trading up about 2.3% on the day of the report.

Raymond James Financial (NYSE:RJF - Get Free Report) had its price target boosted by equities research analysts at Barclays from $182.00 to $192.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. Barclays's price objective indicates a potential upside of 13.48% from the stock's previous close.

RJF has been the subject of several other reports. Jefferies Financial Group reduced their price objective on Raymond James Financial from $165.00 to $145.00 and set a "hold" rating for the company in a research note on Monday, April 6th. TD Cowen dropped their target price on Raymond James Financial from $159.00 to $155.00 and set a "hold" rating on the stock in a report on Thursday, May 28th. UBS Group restated a "neutral" rating and set a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday. Weiss Ratings reiterated a "buy (b-)" rating on shares of Raymond James Financial in a research report on Wednesday, May 20th. Finally, Citigroup reissued an "outperform" rating on shares of Raymond James Financial in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Raymond James Financial has a consensus rating of "Hold" and a consensus price target of $174.50.

Raymond James Financial Trading Up 2.3%

NYSE RJF opened at $169.19 on Thursday. 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 firm has a market cap of $32.97 billion, a PE ratio of 15.90, a P/E/G ratio of 1.29 and a beta of 0.93. Raymond James Financial has a one year low of $138.82 and a one year high of $177.66. The firm's fifty day moving average is $153.89 and its two-hundred day moving average is $156.19.

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, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $2.42 earnings per share. The business's quarterly revenue was up 13.4% compared to the same quarter last year. Analysts expect that Raymond James Financial will post 11.76 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of RJF. Reflection Asset Management purchased a new stake in shares of Raymond James Financial during the 4th quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Raymond James Financial in the 4th quarter valued at about $32,000. Harbor Investment Advisory LLC increased its holdings in shares of Raymond James Financial by 452.6% in the 4th quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Raymond James Financial in the fourth quarter valued at about $35,000. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in shares of Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 228 shares during the period. Hedge funds and other institutional investors own 83.83% of the company's stock.

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.

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