Raymond James Financial (RJF) Research Coverage Started at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Raymond James Financial (NYSE:RJF) in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage issued an underperform rating and a $82.00 target price on the financial services provider’s stock.

Several other equities analysts have also issued reports on the company. Buckingham Research increased their target price on Raymond James Financial from $92.00 to $96.00 and gave the stock a buy rating in a research note on Friday, October 27th. Wells Fargo & Company raised Raymond James Financial from a market perform rating to an outperform rating and increased their target price for the stock from $86.00 to $90.00 in a research note on Thursday, September 14th. Zacks Investment Research raised Raymond James Financial from a hold rating to a buy rating and set a $87.00 target price on the stock in a research note on Wednesday, August 30th. Keefe, Bruyette & Woods reissued a hold rating and set a $85.00 target price on shares of Raymond James Financial in a research note on Tuesday, October 3rd. Finally, BidaskClub lowered Raymond James Financial from a buy rating to a hold rating in a research note on Sunday, August 6th. 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 company. Raymond James Financial has an average rating of Buy and a consensus price target of $88.57.

Raymond James Financial (NYSE RJF) traded down $0.06 on Thursday, reaching $88.24. The company had a trading volume of 1,420,000 shares, compared to its average volume of 592,108. Raymond James Financial has a 1 year low of $68.97 and a 1 year high of $90.27. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.60. The firm has a market cap of $12,741.86, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.88 and a beta of 1.71.

Raymond James Financial (NYSE:RJF) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.67 billion. During the same quarter in the prior year, the company earned $1.28 EPS. Raymond James Financial’s revenue was up 15.8% on a year-over-year basis. research analysts anticipate that Raymond James Financial will post 5.89 earnings per share for the current year.

In other Raymond James Financial news, Vice Chairman Francis S. Godbold sold 45,000 shares of the company’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 filing with the SEC, which is available at the SEC website. Also, CEO Steven M. Raney sold 9,890 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $88.95, for a total value of $879,715.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,812 shares of company stock worth $24,145,735. 11.18% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. YorkBridge Wealth Partners LLC increased its holdings in Raymond James Financial by 4.9% during the 2nd 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 during the period. Burt Wealth Advisors purchased a new stake in Raymond James Financial during the 2nd quarter worth about $150,000. Noesis Capital Mangement Corp purchased a new stake in Raymond James Financial during the 3rd quarter worth about $210,000. Pacer Advisors Inc. increased its holdings in Raymond James Financial by 8.2% during the 2nd 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 during the period. Finally, Sterling Capital Management LLC purchased a new stake in Raymond James Financial during the 3rd quarter worth about $219,000. Institutional investors own 69.95% of the company’s stock.

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About Raymond James Financial

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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