National Bank of Canada FI Has $13.68 Million Position in Raymond James (NYSE:RJF)

National Bank of Canada FI decreased its holdings in shares of Raymond James (NYSE:RJF) by 9.6% in the 4th quarter, HoldingsChannel reports. The firm owned 88,036 shares of the financial services provider’s stock after selling 9,311 shares during the period. National Bank of Canada FI’s holdings in Raymond James were worth $13,675,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. TCTC Holdings LLC lifted its stake in shares of Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Raymond James by 121.0% in the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after buying an additional 127 shares during the last quarter. Plato Investment Management Ltd raised its holdings in Raymond James by 1,142.1% in the 4th quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 217 shares during the period. Quarry LP lifted its position in Raymond James by 80.3% during the third quarter. Quarry LP now owns 420 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 187 shares during the last quarter. Finally, Eastern Bank bought a new stake in shares of Raymond James during the fourth quarter worth approximately $68,000. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company increased their target price on Raymond James from $168.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. The Goldman Sachs Group lowered their price objective on Raymond James from $198.00 to $173.00 and set a “buy” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Keefe, Bruyette & Woods upped their price target on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $164.64.

Raymond James Stock Down 5.2 %

Shares of NYSE RJF opened at $123.51 on Friday. The stock has a 50-day moving average price of $151.43 and a two-hundred day moving average price of $150.78. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.90 and a beta of 0.94. Raymond James has a 12 month low of $104.24 and a 12 month high of $174.32. The company has a current ratio of 1.03, a quick ratio of 1.01 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a return on equity of 19.71% and a net margin of 14.06%. As a group, analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.62%. Raymond James’s dividend payout ratio (DPR) is presently 19.51%.

Raymond James Profile

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.