Basswood Capital Management L.L.C. Buys Shares of 108,544 Raymond James Financial, Inc. $RJF

Basswood Capital Management L.L.C. purchased a new stake in shares of Raymond James Financial, Inc. (NYSE:RJF) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 108,544 shares of the financial services provider’s stock, valued at approximately $16,502,000. Basswood Capital Management L.L.C. owned approximately 0.06% of Raymond James Financial at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Caisse de depot et placement du Quebec bought a new position in Raymond James Financial in the 2nd quarter valued at approximately $34,418,000. Man Group plc bought a new stake in Raymond James Financial during the 2nd quarter worth approximately $6,939,000. Western Wealth Management LLC acquired a new position in Raymond James Financial in the 2nd quarter valued at approximately $1,492,000. Jupiter Topco LLC acquired a new position in Raymond James Financial in the 2nd quarter valued at approximately $3,406,000. Finally, EFG International AG bought a new position in shares of Raymond James Financial during the second quarter valued at $768,000. 83.83% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $176.06, for a total value of $1,760,600.00. Following the transaction, the insider directly owned 45,114 shares of the company’s stock, valued at $7,942,770.84. The trade was a 18.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Raney sold 5,770 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $172.97, for a total value of $998,036.90. Following the sale, the insider owned 43,046 shares in the company, valued at approximately $7,445,666.62. The trade was a 11.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.58% of the company’s stock.

Raymond James Financial Trading Up 1.2%

NYSE:RJF opened at $176.85 on Thursday. Raymond James Financial, Inc. has a 52 week low of $138.82 and a 52 week high of $182.73. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.03 and a current ratio of 1.06. The firm’s fifty day moving average is $169.39 and its 200-day moving average is $157.93. The firm has a market cap of $34.02 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.07 and a beta of 0.92.

Raymond James Financial (NYSE:RJF) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $3.14 earnings per share for the quarter, topping 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 net margin of 13.57% and a return on equity of 19.07%. Raymond James Financial’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.18 earnings per share. Equities analysts expect that Raymond James Financial, Inc. will post 12.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

RJF has been the topic of a number of recent research reports. BMO Capital Markets reiterated a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday, July 23rd. Barclays increased their price objective on Raymond James Financial from $192.00 to $196.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Raymond James Financial in a report on Monday, August 17th. Citigroup reiterated a “market outperform” rating on shares of Raymond James Financial in a research report on Thursday, July 23rd. Finally, UBS Group set a $184.00 price target on Raymond James Financial and gave the company a “neutral” rating in a research note on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $181.00.

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.