Raymond James Financial, Inc. (NYSE:RJF) Downgraded by BidaskClub to Buy

Raymond James Financial, Inc. (NYSE:RJF) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Monday, July 31st.

Other analysts have also issued research reports about the company. Instinet reaffirmed a “buy” rating and set a $90.00 price objective (up previously from $89.00) on shares of Raymond James Financial in a research note on Thursday, July 13th. Nomura raised their price target on Raymond James Financial from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 13th. Buckingham Research reissued a “buy” rating and issued a $94.00 price target (up from $88.00) on shares of Raymond James Financial in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $85.00 price target on shares of Raymond James Financial in a research note on Wednesday, May 24th. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $85.00 price target (up from $82.50) on shares of Raymond James Financial in a research note on Monday, June 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Raymond James Financial currently has an average rating of “Buy” and a consensus target price of $87.50.

Raymond James Financial (RJF) traded down 0.63% on Monday, hitting $79.35. The stock had a trading volume of 520,920 shares. The stock’s 50 day moving average is $81.82 and its 200 day moving average is $77.50. Raymond James Financial has a one year low of $55.42 and a one year high of $85.97. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of 18.88 and a beta of 1.65.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.02. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.61 billion. Raymond James Financial had a return on equity of 13.37% and a net margin of 9.78%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Analysts anticipate that Raymond James Financial will post $5.07 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Raymond James Financial, Inc. (NYSE:RJF) Downgraded by BidaskClub to Buy” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was copied illegally and republished in violation of US and international copyright and trademark laws. The legal version of this article can be viewed at https://www.com-unik.info/2017/08/11/raymond-james-financial-inc-nyserjf-stock-rating-lowered-by-bidaskclub-updated.html.

In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the sale, the chief executive officer now directly owns 128,980 shares in the company, valued at approximately $10,727,266.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of Raymond James Financial stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the sale, the insider now owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,880 shares of company stock worth $3,213,734. Company insiders own 11.18% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Raymond James Financial by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,523 shares of the financial services provider’s stock valued at $764,000 after buying an additional 37 shares during the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of Raymond James Financial by 2.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,805 shares of the financial services provider’s stock valued at $138,000 after buying an additional 40 shares during the last quarter. YorkBridge Wealth Partners LLC raised its position in shares of Raymond James Financial by 4.0% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,347 shares of the financial services provider’s stock valued at $102,000 after buying an additional 52 shares during the last quarter. Sawtooth Solutions LLC raised its position in shares of Raymond James Financial by 2.1% in the second quarter. Sawtooth Solutions LLC now owns 3,067 shares of the financial services provider’s stock valued at $246,000 after buying an additional 62 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of Raymond James Financial by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the financial services provider’s stock valued at $642,000 after buying an additional 100 shares during the last quarter. Institutional investors own 70.87% of the company’s stock.

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.

Analyst Recommendations for Raymond James Financial (NYSE:RJF)

What are top analysts saying about Raymond James Financial Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Raymond James Financial Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit