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

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

A number of other research analysts have also commented on the company. Nomura reiterated a “buy” rating and issued a $94.00 price objective on shares of Raymond James Financial in a research report on Tuesday, May 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a research note on Monday, June 26th. 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. Wells Fargo & Company reissued a “market perform” rating and issued a $85.00 price target (up previously from $82.50) on shares of Raymond James Financial in a research note on Monday, June 12th. Finally, Buckingham Research restated a “buy” rating and set a $94.00 price objective (up previously from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Raymond James Financial has an average rating of “Buy” and a consensus price target of $87.50.

Shares of Raymond James Financial (NYSE:RJF) traded up 0.13% during trading on Monday, reaching $77.85. The company had a trading volume of 794,162 shares. The firm has a 50-day moving average price of $81.95 and a 200-day moving average price of $77.67. The company has a market capitalization of $11.19 billion, a P/E ratio of 18.51 and a beta of 1.65. Raymond James Financial has a 52-week low of $55.42 and a 52-week high of $85.97.

Raymond James Financial (NYSE:RJF) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.02. The company had revenue of $1.62 billion during 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 firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 EPS. On average, analysts predict that Raymond James Financial will post $5.07 EPS for the current fiscal year.

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In other Raymond James Financial news, CEO Paul C. Reilly sold 33,000 shares of Raymond James Financial stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $83.17, for a total value of $2,744,610.00. Following the completion of the transaction, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan N. Santelli sold 1,880 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $73.30, for a total transaction of $137,804.00. Following the transaction, the executive vice president now directly owns 3,000 shares of the company’s stock, valued at $219,900. The disclosure for this sale can be found here. Insiders sold a total of 38,880 shares of company stock worth $3,213,734 over the last quarter. Corporate insiders own 11.18% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC raised its position in 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 worth $102,000 after buying an additional 52 shares in the last quarter. Independent Portfolio Consultants Inc. boosted 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. Burt Wealth Advisors purchased a new position in shares of Raymond James Financial during the second quarter valued at $150,000. Americafirst Capital Management LLC purchased a new position in shares of Raymond James Financial during the first quarter valued at $168,000. Finally, Global X Management Co. LLC boosted its position in shares of Raymond James Financial by 42.5% in the first quarter. Global X Management Co. LLC now owns 2,314 shares of the financial services provider’s stock valued at $176,000 after buying an additional 690 shares during the last quarter. Institutional investors and hedge funds own 70.11% 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.

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