Raymond James (NYSE:RJF) PT Lowered to $141.00 at Bank of America

Raymond James (NYSE:RJF) had its target price decreased by equities research analysts at Bank of America from $145.00 to $141.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 17.97% from the company’s previous close.

A number of other equities analysts have also issued reports on RJF. The Goldman Sachs Group reissued a “neutral” rating and set a $116.00 price target (down previously from $125.00) on shares of Raymond James in a report on Wednesday, January 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Raymond James in a report on Tuesday, April 9th. UBS Group cut their price objective on Raymond James from $116.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Jefferies Financial Group reiterated a “hold” rating and set a $117.00 target price (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. Finally, Keefe, Bruyette & Woods dropped their price target on Raymond James from $132.00 to $131.00 and set a “market perform” rating for the company in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $126.78.

Raymond James Trading Down 6.3 %

Shares of NYSE:RJF traded down $8.02 on Thursday, hitting $119.52. 1,429,087 shares of the company’s stock were exchanged, compared to its average volume of 1,057,742. The stock has a market capitalization of $24.98 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 0.89 and a beta of 1.05. The business’s 50 day simple moving average is $122.97 and its two-hundred day simple moving average is $112.28. Raymond James has a 12 month low of $82.00 and a 12 month high of $131.19. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.99 and a quick ratio of 0.97.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01). Raymond James had a net margin of 12.81% and a return on equity of 17.95%. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm earned $2.03 EPS. Raymond James’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that Raymond James will post 9.45 EPS for the current fiscal year.

Insider Transactions at Raymond James

In other Raymond James news, EVP Jonathan N. Santelli sold 1,891 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total transaction of $211,621.81. Following the transaction, the executive vice president now owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Raymond James news, Director Art A. Garcia purchased 879 shares of the stock in a transaction dated Friday, February 9th. The stock was bought at an average price of $112.30 per share, with a total value of $98,711.70. Following the acquisition, the director now owns 879 shares of the company’s stock, valued at $98,711.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jonathan N. Santelli sold 1,891 shares of Raymond James stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the completion of the transaction, the executive vice president now directly owns 21,491 shares in the company, valued at $2,405,057.81. The disclosure for this sale can be found here. 9.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Raymond James

Several large investors have recently added to or reduced their stakes in the business. Drive Wealth Management LLC lifted its holdings in Raymond James by 3.4% during the first quarter. Drive Wealth Management LLC now owns 2,552 shares of the financial services provider’s stock worth $329,000 after acquiring an additional 85 shares during the period. Steph & Co. raised its stake in shares of Raymond James by 9.3% in the fourth quarter. Steph & Co. now owns 1,067 shares of the financial services provider’s stock valued at $119,000 after buying an additional 91 shares during the period. Federated Hermes Inc. increased its holdings in Raymond James by 12.4% in the 4th quarter. Federated Hermes Inc. now owns 873 shares of the financial services provider’s stock worth $97,000 after acquiring an additional 96 shares during the last quarter. Oarsman Capital Inc. lifted its holdings in Raymond James by 0.9% during the fourth quarter. Oarsman Capital Inc. now owns 10,760 shares of the financial services provider’s stock valued at $1,200,000 after purchasing an additional 99 shares during the last quarter. Finally, Addison Advisors LLC increased its stake in shares of Raymond James by 32.9% in the third quarter. Addison Advisors LLC now owns 416 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 83.83% 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.