Raymond James Financial (NYSE:RJF) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Raymond James Financial (NYSE:RJF) to a hold rating in a research report report published on Thursday morning,Zacks.com reports.

Several other research firms have also recently issued reports on RJF. Wells Fargo & Company raised their price objective on shares of Raymond James Financial from $155.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. Citigroup restated a “neutral” rating and set a $180.00 price objective (up from $170.00) on shares of Raymond James Financial in a research report on Monday, September 22nd. Morgan Stanley raised their price objective on shares of Raymond James Financial from $176.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Raymond James Financial from $151.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Raymond James Financial from $167.00 to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $171.10.

Raymond James Financial Price Performance

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

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

Raymond James Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Wednesday, October 1st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Raymond James Financial’s dividend payout ratio (DPR) is currently 19.61%.

Institutional Investors Weigh In On Raymond James Financial

Institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Raymond James Financial during the first quarter valued at about $25,000. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial in the first quarter valued at approximately $27,000. Golden State Wealth Management LLC boosted 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 valued at $28,000 after purchasing an additional 123 shares during the period. Olde Wealth Management LLC purchased 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 stake in shares of Raymond James Financial by 69.0% in the second quarter. Princeton Global Asset Management LLC now owns 245 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 100 shares during the period. 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.