Wilmington Savings Fund Society FSB Reduces Stock Holdings in Raymond James Financial, Inc. $RJF

Wilmington Savings Fund Society FSB decreased its stake in Raymond James Financial, Inc. (NYSE:RJF) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,918 shares of the financial services provider’s stock after selling 2,095 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Raymond James Financial were worth $9,343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpine Bank Wealth Management purchased a new position in shares of Raymond James Financial in the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC boosted its holdings in Raymond James Financial by 164.0% during the 1st quarter. Golden State Wealth Management LLC now owns 198 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 123 shares during the period. Olde Wealth Management LLC purchased a new position in Raymond James Financial during the 1st quarter valued at $33,000. TCTC Holdings LLC boosted its holdings in Raymond James Financial by 72.9% during the 1st quarter. TCTC Holdings LLC now owns 287 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 121 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in Raymond James Financial by 364.3% during the 1st quarter. Larson Financial Group LLC now owns 325 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RJF. Weiss Ratings restated a “hold (c+)” rating on shares of Raymond James Financial in a report on Wednesday, October 8th. JMP Securities lifted their target price on Raymond James Financial from $180.00 to $185.00 and gave the company a “market outperform” rating in a research report on Thursday, October 9th. Wells Fargo & Company lifted their target price on Raymond James Financial from $155.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, July 11th. Keefe, Bruyette & Woods lifted their target price on Raymond James Financial from $167.00 to $170.00 and gave the company a “market perform” rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on Raymond James Financial from $172.00 to $178.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Raymond James Financial has a consensus rating of “Hold” and an average target price of $172.20.

Raymond James Financial Stock Down 0.3%

Raymond James Financial stock opened at $159.76 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.02 and a current ratio of 1.04. The business’s 50-day simple moving average is $167.65 and its two-hundred day simple moving average is $154.70. The company has a market cap of $31.85 billion, a PE ratio of 15.66, a PEG ratio of 1.22 and a beta of 1.03. Raymond James Financial, Inc. has a fifty-two week low of $117.57 and a fifty-two week high of $177.66.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.18 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.18). The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Raymond James Financial had a net margin of 13.56% and a return on equity of 18.38%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.39 EPS. Equities analysts anticipate that Raymond James Financial, Inc. will post 11.17 EPS for the current year.

Raymond James Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 1st will be paid a $0.50 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Raymond James Financial’s dividend payout ratio is presently 19.61%.

Raymond James Financial Profile

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.