8,383 Shares in Raymond James Financial, Inc. $RJF Acquired by Commerce Bank

Commerce Bank bought a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) in the 2nd quarter, Holdings Channel.com reports. The firm bought 8,383 shares of the financial services provider’s stock, valued at approximately $1,274,000.

Other institutional investors have also added to or reduced their stakes in the company. Reflection Asset Management purchased a new stake in shares of Raymond James Financial in the 4th quarter worth $28,000. Hilton Head Capital Partners LLC purchased a new stake in Raymond James Financial in the fourth quarter worth about $35,000. Steigerwald Gordon & Koch Inc. raised its stake in shares of Raymond James Financial by 760.0% in the first quarter. Steigerwald Gordon & Koch Inc. now owns 258 shares of the financial services provider’s stock worth $37,000 after buying an additional 228 shares during the period. Clearstead Trust LLC purchased a new stake in Raymond James Financial in the 2nd quarter worth approximately $40,000. Finally, DV Equities LLC bought a new position in shares of Raymond James Financial in the fourth quarter worth approximately $40,000. 83.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total transaction of $1,760,600.00. Following the completion of the transaction, the insider directly owned 45,114 shares in the company, valued at approximately $7,942,770.84. This represents a 18.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven M. Raney sold 5,770 shares of the firm’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $172.97, for a total transaction of $998,036.90. Following the completion of the transaction, the insider directly owned 43,046 shares of the company’s stock, valued at approximately $7,445,666.62. This trade represents a 11.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Down 1.0%

Shares of Raymond James Financial stock opened at $174.92 on Wednesday. Raymond James Financial, Inc. has a twelve month low of $138.82 and a twelve month high of $182.73. The company has a quick ratio of 1.03, a current ratio of 1.06 and a debt-to-equity ratio of 0.43. The business has a 50-day moving average price of $169.03 and a 200-day moving average price of $157.87. The firm has a market cap of $33.65 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.08 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23. Raymond James Financial had a return on equity of 19.07% and a net margin of 13.57%.The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.87 billion. During the same period in the previous year, the business earned $2.18 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. Equities research analysts anticipate that Raymond James Financial, Inc. will post 12.07 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. TD Cowen dropped their target price on shares of Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a report on Thursday, July 23rd. Barclays upped their price objective on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Citizens Jmp boosted their price target on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a report on Thursday, July 23rd. Argus upped their price target on Raymond James Financial from $178.00 to $196.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $175.00 price objective (up from $160.00) on shares of Raymond James Financial in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and a consensus price target of $181.00.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.