Raymond James (NYSE:RJF) Posts Earnings Results

Raymond James (NYSE:RJF) released its quarterly earnings data on Wednesday. The financial services provider reported $2.31 EPS for the quarter, missing analysts’ consensus estimates of $2.32 by ($0.01), Briefing.com reports. The firm had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.15 billion. Raymond James had a return on equity of 18.24% and a net margin of 12.72%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.03 earnings per share.

Raymond James Stock Performance

NYSE RJF traded up $0.14 on Friday, hitting $122.09. The stock had a trading volume of 195,453 shares, compared to its average volume of 1,065,035. The company’s 50-day moving average is $123.04 and its two-hundred day moving average is $112.35. Raymond James has a one year low of $82.00 and a one year high of $131.19. The stock has a market cap of $25.52 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 0.89 and a beta of 1.05. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.37.

Raymond James Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 1st were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.80 annualized dividend and a yield of 1.47%. Raymond James’s dividend payout ratio is presently 21.77%.

Insider Activity at Raymond James

In other news, Director Art A. Garcia acquired 879 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was acquired at an average price of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now directly owns 879 shares in the company, valued at approximately $98,711.70. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Art A. Garcia purchased 879 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was acquired at an average cost of $112.30 per share, for a total transaction of $98,711.70. Following the completion of the acquisition, the director now owns 879 shares in the company, valued at approximately $98,711.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jonathan N. Santelli sold 1,891 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $111.91, for a total value of $211,621.81. Following the sale, the executive vice president now directly owns 21,491 shares of the company’s stock, valued at $2,405,057.81. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Jefferies Financial Group restated a “hold” rating and issued a $117.00 price target (up previously from $112.00) on shares of Raymond James in a report on Tuesday, January 9th. JPMorgan Chase & Co. raised Raymond James from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $110.00 to $135.00 in a research report on Wednesday, January 10th. Bank of America lowered their target price on Raymond James from $145.00 to $141.00 and set a “buy” rating for the company in a research note on Thursday. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Finally, Morgan Stanley upped their target price on shares of Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $126.22.

About Raymond James

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.