Wells Fargo & Co reissued their outperform rating on shares of Raymond James Financial (NYSE:RJF) in a research report report published on Thursday, The Fly reports. Wells Fargo & Co currently has a $110.00 target price on the financial services provider’s stock, up from their previous target price of $94.00.

Other equities analysts also recently issued research reports about the stock. Buckingham Research boosted their price target on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a buy rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods restated a hold rating and issued a $85.00 price target on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group restated a hold rating and issued a $82.00 price target on shares of Raymond James Financial in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $91.43.

Shares of Raymond James Financial (NYSE:RJF) opened at $90.95 on Thursday. Raymond James Financial has a 1-year low of $70.74 and a 1-year high of $91.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14. The firm has a market cap of $13,133.22, a P/E ratio of 17.90, a P/E/G ratio of 0.79 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.15. Raymond James Financial had a net margin of 9.75% and a return on equity of 13.75%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. equities analysts expect that Raymond James Financial will post 6.78 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Shareholders of record on Wednesday, January 3rd will be paid a $0.25 dividend. This is an increase from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, January 2nd. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. Raymond James Financial’s payout ratio is 23.09%.

In related news, Vice Chairman Francis S. Godbold sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $85.51, for a total transaction of $3,847,950.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP George Catanese sold 506 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $88.29, for a total transaction of $44,674.74. Following the transaction, the senior vice president now owns 5,884 shares of the company’s stock, valued at approximately $519,498.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 318,204 shares of company stock valued at $27,453,239. Insiders own 11.18% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. YorkBridge Wealth Partners LLC grew its stake in shares of Raymond James Financial by 4.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,413 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 66 shares in the last quarter. Noesis Capital Mangement Corp acquired a new position in shares of Raymond James Financial during the third quarter worth $210,000. Sterling Capital Management LLC acquired a new position in shares of Raymond James Financial during the third quarter worth $219,000. Visionary Asset Management Inc. acquired a new position in shares of Raymond James Financial during the third quarter worth $220,000. Finally, Pacer Advisors Inc. grew its stake in shares of Raymond James Financial by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,714 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 69.79% of the company’s stock.

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Raymond James Financial Company Profile

Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.

The Fly

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

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