Raymond James (NYSE:RJF) Price Target Raised to $77.00 at Credit Suisse Group

Raymond James (NYSE:RJF) had its price objective raised by Credit Suisse Group from $74.00 to $77.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Credit Suisse Group’s price target indicates a potential upside of 10.82% from the company’s previous close.

A number of other research firms also recently issued reports on RJF. Seaport Global Securities began coverage on shares of Raymond James in a research report on Wednesday, July 8th. They issued a “neutral” rating for the company. Compass Point downgraded shares of Raymond James from a “buy” rating to a “neutral” rating and set a $65.00 target price for the company. in a research report on Friday, May 1st. Morgan Stanley cut their target price on shares of Raymond James from $95.00 to $91.00 and set an “overweight” rating for the company in a research report on Friday. JMP Securities cut their target price on shares of Raymond James from $106.00 to $84.00 and set a “market outperform” rating for the company in a research report on Thursday, April 9th. Finally, ValuEngine upgraded shares of Raymond James from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $73.86.

Shares of NYSE:RJF traded up $0.40 during mid-day trading on Friday, hitting $69.48. The stock had a trading volume of 736,552 shares, compared to its average volume of 637,181. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.05 and a current ratio of 1.06. The company has a market cap of $9.52 billion, a PE ratio of 10.99 and a beta of 1.38. Raymond James has a 12-month low of $54.21 and a 12-month high of $102.45. The company’s 50 day moving average is $70.16 and its 200-day moving average is $74.62.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.26. The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.84 billion. Raymond James had a net margin of 10.75% and a return on equity of 13.15%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.80 EPS. On average, equities research analysts predict that Raymond James will post 5.31 EPS for the current fiscal year.

In other Raymond James news, EVP Jonathan N. Santelli sold 1,250 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $81.33, for a total value of $101,662.50. Following the sale, the executive vice president now directly owns 2,503 shares in the company, valued at approximately $203,568.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President John C. Jr. Carson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $82.53, for a total transaction of $825,300.00. Following the completion of the sale, the president now owns 46,224 shares in the company, valued at $3,814,866.72. The disclosure for this sale can be found here. Insiders sold a total of 20,400 shares of company stock worth $1,673,420 over the last quarter. 10.82% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp grew its position in Raymond James by 2.7% in the 1st quarter. M&T Bank Corp now owns 6,456 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 171 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Raymond James by 25.5% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 860 shares of the financial services provider’s stock valued at $54,000 after buying an additional 175 shares during the period. CIBC Asset Management Inc lifted its position in shares of Raymond James by 1.6% in the second quarter. CIBC Asset Management Inc now owns 11,074 shares of the financial services provider’s stock worth $762,000 after purchasing an additional 176 shares in the last quarter. Blue Chip Partners Inc. lifted its position in shares of Raymond James by 8.5% in the first quarter. Blue Chip Partners Inc. now owns 2,467 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 194 shares in the last quarter. Finally, Cigna Investments Inc. New lifted its position in shares of Raymond James by 6.2% in the first quarter. Cigna Investments Inc. New now owns 3,418 shares of the financial services provider’s stock worth $215,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 74.24% of the company’s stock.

Raymond James Company 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.

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