Fulton Bank N.A. reduced its position in Raymond James (NYSE:RJF – Get Rating) by 10.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,983 shares of the financial services provider’s stock after selling 338 shares during the period. Fulton Bank N.A.’s holdings in Raymond James were worth $319,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Intrust Bank NA increased its stake in shares of Raymond James by 1.9% in the 3rd quarter. Intrust Bank NA now owns 5,344 shares of the financial services provider’s stock valued at $528,000 after buying an additional 101 shares during the period. Wetherby Asset Management Inc. grew its stake in shares of Raymond James by 5.0% during the first quarter. Wetherby Asset Management Inc. now owns 2,520 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 121 shares during the period. King Luther Capital Management Corp grew its stake in shares of Raymond James by 0.9% during the second quarter. King Luther Capital Management Corp now owns 15,172 shares of the financial services provider’s stock worth $1,357,000 after purchasing an additional 131 shares during the period. Salem Investment Counselors Inc. grew its stake in shares of Raymond James by 5.7% during the second quarter. Salem Investment Counselors Inc. now owns 2,458 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 133 shares during the period. Finally, Covestor Ltd grew its stake 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. 74.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. The Goldman Sachs Group decreased their price objective on Raymond James from $148.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, January 4th. Keefe, Bruyette & Woods lifted their price objective on Raymond James from $120.00 to $126.00 and gave the stock a “market perform” rating in a research note on Thursday, January 12th. UBS Group decreased their price objective on Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a research note on Monday, January 9th. Credit Suisse Group decreased their price objective on Raymond James from $119.00 to $116.00 and set a “neutral” rating for the company in a research note on Thursday, January 26th. Finally, StockNews.com began coverage on Raymond James in a research note on Thursday. They set a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $122.86.
Raymond James Stock Performance
RJF stock opened at $88.02 on Friday. The business’s 50-day moving average price is $108.88 and its two-hundred day moving average price is $109.71. The company has a current ratio of 0.98, a quick ratio of 0.96 and a debt-to-equity ratio of 0.39. The firm has a market cap of $18.96 billion, a PE ratio of 12.26 and a beta of 1.05. Raymond James has a 1-year low of $84.86 and a 1-year high of $126.00.
Raymond James (NYSE:RJF – Get Rating) last posted its earnings results on Wednesday, January 25th. The financial services provider reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.01. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.83 billion. Raymond James had a return on equity of 17.78% and a net margin of 13.65%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $2.12 earnings per share. As a group, research analysts forecast that Raymond James will post 9.44 earnings per share for the current year.
Raymond James Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, April 17th. Stockholders of record on Monday, April 3rd will be issued a $0.42 dividend. The ex-dividend date is Friday, March 31st. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.91%. Raymond James’s dividend payout ratio (DPR) is 23.40%.
Raymond James Company 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.
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