Raymond James (NYSE:RJF) announced a quarterly dividend on Wednesday, May 20th, Zacks reports. Shareholders of record on Wednesday, July 1st will be paid a dividend of 0.37 per share by the financial services provider on Wednesday, July 15th. This represents a $1.48 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Tuesday, June 30th.
Raymond James has increased its dividend by an average of 30.9% annually over the last three years and has increased its dividend every year for the last 7 years. Raymond James has a payout ratio of 28.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Raymond James to earn $5.78 per share next year, which means the company should continue to be able to cover its $1.48 annual dividend with an expected future payout ratio of 25.6%.
RJF stock traded down $0.25 during mid-day trading on Friday, hitting $64.53. 16,600 shares of the company were exchanged, compared to its average volume of 1,056,207. The business has a 50 day simple moving average of $63.75 and a 200-day simple moving average of $81.26. The company has a current ratio of 1.06, a quick ratio of 1.05 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $8.85 billion, a PE ratio of 9.56 and a beta of 1.37. Raymond James has a 1-year low of $54.21 and a 1-year high of $102.45.
In other Raymond James news, Vice Chairman Francis S. Godbold bought 12,500 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $61.49 per share, for a total transaction of $768,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Francis S. Godbold bought 12,542 shares of the stock in a transaction on Monday, March 9th. The shares were acquired at an average cost of $65.40 per share, with a total value of $820,246.80. The disclosure for this purchase can be found here. 10.82% of the stock is owned by insiders.
Several brokerages have issued reports on RJF. Credit Suisse Group raised their price objective on shares of Raymond James from $72.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Goldman Sachs Group cut Raymond James from a “neutral” rating to a “sell” rating in a research note on Tuesday, March 24th. Compass Point lowered Raymond James from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Friday, May 1st. ValuEngine cut Raymond James from a “hold” rating to a “sell” rating in a report on Tuesday, May 12th. Finally, JMP Securities reduced their target price on Raymond James from $106.00 to $84.00 and set a “market outperform” rating on the stock in a report on Thursday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Raymond James has an average rating of “Hold” and a consensus price target of $69.33.
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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