Raymond James Financial (NYSE:RJF) Given New $174.00 Price Target at Morgan Stanley

Raymond James Financial (NYSE:RJF) had its price objective increased by Morgan Stanley from $172.00 to $174.00 in a research report sent to investors on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other analysts also recently issued research reports about the stock. Citigroup restated an “outperform” rating on shares of Raymond James Financial in a report on Thursday. BMO Capital Markets increased their price objective on Raymond James Financial from $152.00 to $165.00 and gave the stock a “market perform” rating in a research report on Thursday, April 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Raymond James Financial in a research note on Wednesday, May 20th. UBS Group restated 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. Finally, TD Cowen lowered their price target on Raymond James Financial from $159.00 to $155.00 and set a “hold” rating for the company in a report on Thursday, May 28th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $176.64.

Raymond James Financial Trading Down 0.3%

Shares of RJF stock traded down $0.57 on Friday, hitting $168.15. 1,000,423 shares of the stock traded hands, compared to its average volume of 1,493,235. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.07. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $177.66. The firm’s 50-day moving average price is $154.40 and its two-hundred day moving average price is $156.32. The stock has a market capitalization of $32.77 billion, a PE ratio of 15.89, a PEG ratio of 1.30 and a beta of 0.93.

Raymond James Financial (NYSE:RJF) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the business earned $2.42 earnings per share. Raymond James Financial’s revenue was up 13.4% compared to the same quarter last year. As a group, analysts anticipate that Raymond James Financial will post 11.76 EPS for the current year.

Raymond James Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, July 1st. Raymond James Financial’s dividend payout ratio is currently 20.42%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Reflection Asset Management purchased a new stake in Raymond James Financial during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Raymond James Financial in the 4th quarter valued at approximately $32,000. Harbor Investment Advisory LLC grew its stake in shares of Raymond James Financial by 452.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 210 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 172 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new stake in shares of Raymond James Financial during the fourth quarter worth $35,000. Finally, DV Equities LLC purchased a new stake in shares of Raymond James Financial during the fourth quarter worth $40,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Raymond James Financial News Summary

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

• Positive Sentiment: Several analysts turned more constructive on Raymond James Financial after earnings, including Citizens JMP raising its price target to $200 and Barclays lifting its target to $192 with an overweight rating, signaling expectations for further upside. Raymond James Financial (NYSE:RJF) Given New $200.00 Price Target at Citizens Jmp
• Positive Sentiment: Morgan Stanley also raised its target to $174, and a separate article suggested RJF could be about 3% undervalued after posting strong quarterly results, reinforcing the case that recent fundamentals may be better than the market is pricing in. Raymond James Financial (RJF) Could Be 3% Undervalued After Strong Quarterly Results
• Neutral Sentiment: UBS kept a hold rating on Raymond James Financial, indicating some analysts still see limited near-term upside despite the recent positive momentum. UBS Sticks to Their Hold Rating for Raymond James Financial (RJF)

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.