Raymond James Financial (NYSE:RJF) Price Target Raised to $196.00 at Bank of America

by · The Markets Daily

Raymond James Financial (NYSE:RJF – Get Free Report) had its target price boosted by equities research analysts at Bank of America from $194.00 to $196.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Bank of America‘s target price suggests a potential upside of 18.47% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. JMP Securities raised their target price on shares of Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. TD Cowen upped their target price on Raymond James Financial from $175.00 to $180.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a research note on Wednesday, October 8th. BMO Capital Markets increased their price target on shares of Raymond James Financial from $180.00 to $182.00 and gave the stock a “market perform” rating in a research report on Thursday, October 23rd. Finally, Citigroup restated an “outperform” rating on shares of Raymond James Financial in a research report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $180.90.

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Raymond James Financial Stock Up 0.3%

RJF traded up $0.51 during trading on Wednesday, reaching $165.44. The company had a trading volume of 300,046 shares, compared to its average volume of 1,263,981. The business’s fifty day moving average price is $160.70 and its 200 day moving average price is $160.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.07 and a quick ratio of 1.04. Raymond James Financial has a 12 month low of $117.57 and a 12 month high of $177.66. The company has a market cap of $32.54 billion, a P/E ratio of 16.09, a PEG ratio of 1.22 and a beta of 0.99.

Raymond James Financial (NYSE:RJF – Get Free Report) last announced its earnings results on Wednesday, October 22nd. The financial services provider reported $3.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.28. Raymond James Financial had a return on equity of 18.19% and a net margin of 13.42%.The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm earned $2.95 EPS. Raymond James Financial’s revenue for the quarter was up 7.7% compared to the same quarter last year. Equities analysts anticipate that Raymond James Financial will post 11.17 EPS for the current year.

Institutional Investors Weigh In On Raymond James Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Covestor Ltd increased its position in shares of Raymond James Financial by 60.8% during the first quarter. Covestor Ltd now owns 542 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 205 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Raymond James Financial during the 1st quarter valued at $111,368,000. Public Sector Pension Investment Board raised its stake in shares of Raymond James Financial by 3.8% during the 1st quarter. Public Sector Pension Investment Board now owns 49,295 shares of the financial services provider’s stock worth $6,848,000 after purchasing an additional 1,788 shares during the period. Resona Asset Management Co. Ltd. boosted its holdings in shares of Raymond James Financial by 5.0% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 62,720 shares of the financial services provider’s stock worth $8,713,000 after buying an additional 2,985 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Raymond James Financial by 2.8% during the first quarter. Russell Investments Group Ltd. now owns 153,556 shares of the financial services provider’s stock valued at $21,332,000 after buying an additional 4,128 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Raymond James Financial Company Profile

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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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