Weekly Research Analysts’ Ratings Changes for Raymond James (RJF)

by · The Cerbat Gem

Several brokerages have updated their recommendations and price targets on shares of Raymond James (NYSE: RJF) in the last few weeks:

  • 10/30/2024 – Raymond James had its price target raised by analysts at TD Cowen from $128.00 to $150.00. They now have a “hold” rating on the stock.
  • 10/29/2024 – Raymond James had its price target raised by analysts at Morgan Stanley from $132.00 to $145.00. They now have an “equal weight” rating on the stock.
  • 10/24/2024 – Raymond James had its price target raised by analysts at Wells Fargo & Company from $140.00 to $152.00. They now have an “overweight” rating on the stock.
  • 10/24/2024 – Raymond James had its price target raised by analysts at The Goldman Sachs Group, Inc. from $125.00 to $142.00. They now have a “neutral” rating on the stock.
  • 10/24/2024 – Raymond James had its price target raised by analysts at JMP Securities from $146.00 to $150.00. They now have a “market outperform” rating on the stock.
  • 10/24/2024 – Raymond James had its price target raised by analysts at Bank of America Co. from $136.00 to $152.00. They now have a “buy” rating on the stock.
  • 10/9/2024 – Raymond James had its price target raised by analysts at Wells Fargo & Company from $138.00 to $140.00. They now have an “overweight” rating on the stock.
  • 10/9/2024 – Raymond James was upgraded by analysts at JMP Securities from a “market perform” rating to a “market outperform” rating. They now have a $146.00 price target on the stock.
  • 10/4/2024 – Raymond James had its price target raised by analysts at Jefferies Financial Group Inc. from $123.00 to $126.00. They now have a “hold” rating on the stock.
  • 9/26/2024 – Raymond James had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $127.00 to $125.00. They now have a “neutral” rating on the stock.

Raymond James Trading Up 0.3 %

Shares of RJF stock traded up $0.42 during trading hours on Wednesday, hitting $162.69. The company had a trading volume of 132,927 shares, compared to its average volume of 1,139,750. The company’s fifty day moving average is $132.64 and its 200 day moving average is $123.73. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.02 and a quick ratio of 0.99. Raymond James has a fifty-two week low of $101.90 and a fifty-two week high of $163.39. The stock has a market capitalization of $33.50 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.82 and a beta of 0.99.

Raymond James (NYSE:RJF – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.61%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.13 EPS. Research analysts expect that Raymond James will post 10.73 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Tuesday, October 1st. Raymond James’s dividend payout ratio (DPR) is 18.54%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Metis Global Partners LLC grew its position in shares of Raymond James by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock valued at $749,000 after buying an additional 82 shares during the last quarter. Wedmont Private Capital grew its position in Raymond James by 5.1% during the 3rd quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 86 shares during the last quarter. Private Advisor Group LLC grew its position in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 93 shares during the last quarter. Portside Wealth Group LLC lifted its stake in shares of Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 93 shares during the period. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in shares of Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 96 shares during the period. 83.83% of the stock is owned by hedge funds and other institutional investors.

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.

Featured Articles