Raymond James (RJF) Upgraded at Zacks Investment Research

Raymond James (NYSE:RJF) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Shares of Raymond James have underperformed the industry over the past six months. The company's earnings have surpassed the Zacks Consensus Estimate in only one of the trailing four quarters. Slowdown in equity and debt issuances will continue to weigh on the company’s underwriting revenues. Also, mounting expenses mainly due to higher compensation costs and bank loan loss provisions will likely hurt bottom-line growth to some extent. However, strategic acquisitions, lower tax rates and persistent loan growth are expected to support profitability. Moreover, given a solid capital position, the company is expected to continue enhancing shareholder value through efficient capital deployment activities.”

RJF has been the topic of a number of other reports. Buckingham Research reduced their price objective on shares of Raymond James from $117.00 to $111.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Wells Fargo & Co reduced their price objective on shares of Raymond James from $111.00 to $96.00 and set an “outperform” rating on the stock in a research note on Friday, October 26th. Goldman Sachs Group assumed coverage on shares of Raymond James in a research note on Tuesday, November 27th. They issued a “neutral” rating and a $85.00 price objective on the stock. Wolfe Research assumed coverage on shares of Raymond James in a research note on Tuesday, September 25th. They issued an “outperform” rating on the stock. Finally, Citigroup cut shares of Raymond James from a “buy” rating to a “neutral” rating in a research note on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $100.63.

RJF opened at $77.48 on Wednesday. Raymond James has a one year low of $71.93 and a one year high of $102.17. The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.42. The company has a market cap of $10.93 billion, a PE ratio of 11.98, a P/E/G ratio of 0.60 and a beta of 1.74.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.68 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by ($0.13). Raymond James had a net margin of 11.46% and a return on equity of 15.72%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. As a group, equities analysts anticipate that Raymond James will post 7.48 EPS for the current fiscal year.

In other Raymond James news, SVP George Catanese sold 6,611 shares of the stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $78.71, for a total value of $520,351.81. Following the sale, the senior vice president now directly owns 6,180 shares in the company, valued at $486,427.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tashtego S. Elwyn bought 1,500 shares of the business’s stock in a transaction on Monday, October 29th. The stock was purchased at an average price of $73.75 per share, for a total transaction of $110,625.00. Following the completion of the acquisition, the insider now owns 12,055 shares of the company’s stock, valued at approximately $889,056.25. The disclosure for this purchase can be found here. 10.46% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Raymond James by 8.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 408,967 shares of the financial services provider’s stock worth $36,541,000 after purchasing an additional 33,257 shares during the period. Toronto Dominion Bank raised its holdings in Raymond James by 19.6% in the second quarter. Toronto Dominion Bank now owns 83,577 shares of the financial services provider’s stock worth $7,466,000 after purchasing an additional 13,694 shares during the period. We Are One Seven LLC acquired a new stake in Raymond James in the third quarter worth $344,000. Global Financial Private Capital LLC acquired a new stake in Raymond James in the third quarter worth $268,000. Finally, NumerixS Investment Technologies Inc raised its holdings in Raymond James by 332.1% in the second quarter. NumerixS Investment Technologies Inc now owns 12,100 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 9,300 shares during the period. Institutional investors own 72.74% of the company’s stock.

Raymond James Company Profile

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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