TD Cowen Cuts Raymond James Financial (NYSE:RJF) Price Target to $161.00

Raymond James Financial (NYSE:RJF) had its price target cut by TD Cowen from $162.00 to $161.00 in a research note released on Thursday,Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other analysts have also issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. Citizens Jmp upped their price objective on shares of Raymond James Financial from $200.00 to $205.00 and gave the company a “market outperform” rating in a research note on Thursday. 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 report on Thursday. UBS Group reissued a “neutral” rating and issued a $175.00 target price (up from $166.00) on shares of Raymond James Financial in a research report on Wednesday, July 8th. Finally, Citigroup restated a “market outperform” rating on shares of Raymond James Financial in a report on Thursday. Four analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus target price of $178.82.

Raymond James Financial Trading Up 1.9%

Shares of Raymond James Financial stock opened at $169.27 on Thursday. Raymond James Financial has a fifty-two week low of $138.82 and a fifty-two week high of $177.66. The business’s fifty day moving average is $156.99 and its two-hundred day moving average is $156.61. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44. The firm has a market cap of $32.99 billion, a PE ratio of 14.76, a P/E/G ratio of 1.08 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $3.14 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.23. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.The business’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.18 earnings per share. Analysts anticipate that Raymond James Financial will post 12.01 earnings per share for the current year.

Raymond James Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, July 1st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio (DPR) is currently 18.83%.

Institutional Investors Weigh In On Raymond James Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RJF. Reflection Asset Management purchased a new position in Raymond James Financial in the 4th quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Raymond James Financial during the fourth quarter worth about $32,000. Hilton Head Capital Partners LLC acquired a new position in shares of Raymond James Financial in the fourth quarter worth about $35,000. Steigerwald Gordon & Koch Inc. lifted 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 acquiring an additional 228 shares in the last quarter. Finally, DV Equities LLC purchased a new position in Raymond James Financial in the fourth quarter valued at about $40,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Key Headlines Impacting Raymond James Financial

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: Raymond James posted fiscal Q3 earnings and revenue that topped estimates, with EPS of $3.14 versus $2.91 expected and record revenues, helped by a $26 million credit-loss benefit. Raymond James Financial, Inc. (RJF) Tops Q3 Earnings and Revenue Estimates
• Positive Sentiment: Barclays, Citizens JMP, and JPMorgan all raised price targets on Raymond James Financial, signaling improved confidence in the company’s outlook; Barclays and Citizens JMP kept bullish ratings, while JPMorgan stayed neutral. Barclays Remains a Buy on Raymond James Financial (RJF)
• Neutral Sentiment: TD Cowen trimmed its price target slightly and maintained a hold rating, which adds some caution but does not materially change the broader upbeat sentiment around the stock.
• Neutral Sentiment: One market report said Raymond James Financial underperformed peers on Thursday, suggesting the shares may be lagging some competitors despite the earnings beat and analyst upgrades. Raymond James Financial Inc. stock underperforms Thursday when compared to competitors

Raymond James Financial Company Profile

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.