Zions Bancorporation Acquires Shares of 3,706 Raymond James Financial, Inc. (RJF)
Zions Bancorporation acquired a new stake in Raymond James Financial, Inc. (NYSE:RJF) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,706 shares of the financial services provider’s stock, valued at approximately $313,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. YorkBridge Wealth Partners LLC raised its holdings in Raymond James Financial by 4.9% in 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. Burt Wealth Advisors bought a new position in Raymond James Financial in the second quarter worth about $150,000. Noesis Capital Mangement Corp bought a new position in Raymond James Financial in the third quarter worth about $210,000. Pacer Advisors Inc. raised its holdings in Raymond James Financial by 8.2% in 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. Finally, FNY Partners Fund LP raised its holdings in Raymond James Financial by 3,103.0% in the second quarter. FNY Partners Fund LP now owns 3,003 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 3,103 shares in the last quarter. Hedge funds and other institutional investors own 69.86% of the company’s stock.
In other news, Vice Chairman Francis S. Godbold sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $85.51, for a total transaction of $3,847,950.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Thomas A. James sold 200,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $85.98, for a total value of $17,196,000.00. The disclosure for this sale can be found here. Insiders have sold 288,833 shares of company stock worth $24,856,957 in the last 90 days. Insiders own 11.18% of the company’s stock.
A number of brokerages have commented on RJF. Credit Suisse Group began coverage on shares of Raymond James Financial in a report on Thursday, November 30th. They issued an “underperform” rating and a $82.00 target price for the company. Buckingham Research boosted their target price on shares of Raymond James Financial from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $85.00 target price on shares of Raymond James Financial in a report on Tuesday, October 3rd. Wells Fargo & Company upgraded shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $86.00 to $90.00 in a report on Thursday, September 14th. Finally, Zacks Investment Research upgraded shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $88.57.
Shares of Raymond James Financial, Inc. (NYSE RJF) traded down $0.45 during trading on Tuesday, reaching $89.04. 528,200 shares of the company’s stock were exchanged, compared to its average volume of 779,631. The company has a market capitalization of $12,922.40, a P/E ratio of 17.62, a PEG ratio of 0.89 and a beta of 1.71. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.16 and a quick ratio of 1.14. Raymond James Financial, Inc. has a fifty-two week low of $68.97 and a fifty-two week high of $91.29.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.32 by $0.15. Raymond James Financial had a return on equity of 13.75% and a net margin of 9.75%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. equities research analysts predict that Raymond James Financial, Inc. will post 5.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Stockholders of record on Wednesday, January 3rd will be paid a dividend of $0.25 per share. This is a positive change from Raymond James Financial’s previous quarterly dividend of $0.22. The ex-dividend date is Tuesday, January 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.12%. Raymond James Financial’s payout ratio is presently 20.32%.
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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.
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