Bokf Na Has $7.12 Million Stock Position in Raymond James (NYSE:RJF)

BOKF NA lowered its position in Raymond James (NYSE:RJF - Free Report) by 12.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 46,188 shares of the financial services provider's stock after selling 6,369 shares during the period. BOKF NA's holdings in Raymond James were worth $7,123,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. TCTC Holdings LLC increased its position in shares of Raymond James by 176.7% during the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider's stock worth $26,000 after purchasing an additional 106 shares in the last quarter. Y.D. More Investments Ltd lifted its stake in shares of Raymond James by 121.0% in the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 127 shares during the period. Plato Investment Management Ltd increased its stake in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 217 shares in the last quarter. Covestor Ltd raised its holdings in Raymond James by 56.7% during the fourth quarter. Covestor Ltd now owns 337 shares of the financial services provider's stock worth $52,000 after purchasing an additional 122 shares during the last quarter. Finally, Mizuho Bank Ltd. purchased a new stake in Raymond James during the fourth quarter worth $53,000. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and set a $175.00 price target on shares of Raymond James in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective on Raymond James from $170.00 to $177.00 and gave the stock a "market perform" rating in a report on Thursday, January 30th. Bank of America downgraded Raymond James from a "buy" rating to a "neutral" rating and set a $159.00 price objective on the stock. in a report on Wednesday, April 30th. Citigroup cut their target price on Raymond James from $180.00 to $150.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 2nd. Finally, Wells Fargo & Company decreased their price objective on Raymond James from $176.00 to $143.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $153.82.

Raymond James Stock Performance

Shares of NYSE RJF traded up $5.26 during mid-day trading on Monday, hitting $150.63. The company had a trading volume of 470,671 shares, compared to its average volume of 1,298,387. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The firm has a market cap of $30.87 billion, a P/E ratio of 14.71, a PEG ratio of 0.90 and a beta of 1.02. The business's 50-day simple moving average is $138.22 and its 200-day simple moving average is $152.33. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01.

Raymond James (NYSE:RJF - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.02). The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.46 billion. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. The business's revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. As a group, analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.33%. The ex-dividend date was Tuesday, April 1st. Raymond James's dividend payout ratio is 19.25%.

Insider Activity

In other news, insider James E. Bunn sold 3,650 shares of Raymond James stock in a transaction on Monday, April 28th. The shares were sold at an average price of $136.49, for a total transaction of $498,188.50. Following the transaction, the insider now directly owns 78,227 shares of the company's stock, valued at $10,677,203.23. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

About Raymond James

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.