Raymond James (NYSE:RJF) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Raymond James (NYSE:RJFGet Rating) from a buy rating to a hold rating in a report issued on Monday morning.

Other research analysts have also issued reports about the stock. Morgan Stanley lowered their price objective on shares of Raymond James from $138.00 to $119.00 and set an overweight rating on the stock in a research note on Monday, July 18th. Citigroup lowered their price objective on shares of Raymond James from $205.00 to $195.00 in a research note on Friday, April 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $134.25.

Raymond James Stock Up 0.2 %

Raymond James stock opened at $98.66 on Monday. The firm has a market capitalization of $20.55 billion, a PE ratio of 14.05 and a beta of 1.09. The company’s 50-day moving average is $92.47 and its 200-day moving average is $100.27. Raymond James has a fifty-two week low of $84.64 and a fifty-two week high of $117.37. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.98 and a quick ratio of 0.97.

Raymond James (NYSE:RJFGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.12). The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.66 billion. Raymond James had a return on equity of 18.39% and a net margin of 13.58%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.83 earnings per share. Sell-side analysts anticipate that Raymond James will post 7.22 earnings per share for the current year.

Raymond James Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Friday, July 1st were paid a $0.34 dividend. The ex-dividend date was Thursday, June 30th. This represents a $1.36 dividend on an annualized basis and a yield of 1.38%. Raymond James’s dividend payout ratio (DPR) is currently 19.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of RJF. Massmutual Trust Co. FSB ADV increased its holdings in shares of Raymond James by 365.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 298 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 234 shares during the period. Evoke Wealth LLC increased its holdings in shares of Raymond James by 1,780.0% during the fourth quarter. Evoke Wealth LLC now owns 282 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 267 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Raymond James by 59.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 327 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 122 shares during the period. CWM LLC bought a new position in shares of Raymond James during the fourth quarter worth approximately $34,000. Finally, Covestor Ltd increased its holdings in shares of Raymond James by 77.1% during the first quarter. Covestor Ltd now owns 317 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 76.98% of the company’s stock.

Raymond James Company Profile

(Get Rating)

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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