Raymond James (NYSE:RJF) announced a quarterly dividend on Friday, August 24th, Wall Street Journal reports. Stockholders of record on Monday, October 1st will be given a dividend of 0.30 per share by the financial services provider on Monday, October 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, September 28th.

Raymond James has increased its dividend payment by an average of 11.2% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Raymond James has a payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Raymond James to earn $7.65 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 15.7%.

NYSE:RJF opened at $95.13 on Friday. Raymond James has a fifty-two week low of $81.90 and a fifty-two week high of $102.17. The stock has a market capitalization of $13.88 billion, a PE ratio of 18.19, a PEG ratio of 0.85 and a beta of 1.65. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.44.

Raymond James (NYSE:RJF) last released its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.17). Raymond James had a net margin of 10.87% and a return on equity of 15.66%. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. equities research analysts forecast that Raymond James will post 6.6 EPS for the current year.

In related news, President John C. Jr. Carson sold 5,698 shares of Raymond James stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $92.66, for a total value of $527,976.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.46% of the stock is owned by company insiders.

A number of research firms have recently weighed in on RJF. JMP Securities upgraded shares of Raymond James from a “market perform” rating to an “outperform” rating in a report on Friday, July 27th. Zacks Investment Research upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Citigroup raised their price target on shares of Raymond James from $95.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, June 15th. Finally, Goldman Sachs Group upgraded shares of Raymond James from a “neutral” rating to a “buy” rating in a report on Thursday, May 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $103.75.

About Raymond James

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.

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Dividend History for Raymond James (NYSE:RJF)

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