BMO Capital Markets Begins Coverage on Raymond James Financial (NYSE:RJF)

Research analysts at BMO Capital Markets assumed coverage on shares of Raymond James Financial (NYSE:RJF) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $180.00 price target on the financial services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 8.02% from the stock’s previous close.

RJF has been the topic of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a research note on Thursday, July 24th. Wells Fargo & Company boosted their price target on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, July 11th. Citigroup restated a “neutral” rating and set a $180.00 price target (up from $170.00) on shares of Raymond James Financial in a report on Monday, September 22nd. JMP Securities lifted their price objective on shares of Raymond James Financial from $175.00 to $180.00 and gave the company a “market outperform” rating in a research note on Monday, July 14th. Finally, Morgan Stanley increased their target price on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $171.10.

Raymond James Financial Stock Up 0.1%

Shares of NYSE RJF opened at $166.64 on Friday. The company’s 50 day moving average price is $168.04 and its 200-day moving average price is $153.75. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. Raymond James Financial has a 52-week low of $117.57 and a 52-week high of $177.66. The company has a market capitalization of $33.22 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.28 and a beta of 1.03.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial in the 1st quarter worth about $25,000. Alpine Bank Wealth Management bought a new stake in Raymond James Financial during the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC raised 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 purchasing an additional 123 shares during the last quarter. Olde Wealth Management LLC bought a new position in shares of Raymond James Financial in the first quarter valued at approximately $33,000. Finally, Princeton Global Asset Management LLC boosted its position in shares of Raymond James Financial by 69.0% during the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after buying an additional 100 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors and hedge funds.

About Raymond James Financial

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.