Raymond James Financial, Inc. (NYSE:RJF) announced its earnings results on Wednesday. The financial services provider reported $1.47 EPS for the quarter, topping the consensus estimate of $1.32 by $0.15, Bloomberg Earnings reports. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.67 billion. Raymond James Financial had a net margin of 9.78% and a return on equity of 13.37%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $1.28 EPS.
Shares of Raymond James Financial (NYSE:RJF) traded down 0.73% during trading on Wednesday, hitting $85.73. 766,389 shares of the stock traded hands. The company has a 50-day moving average of $83.10 and a 200-day moving average of $79.28. The firm has a market cap of $12.32 billion, a P/E ratio of 20.39 and a beta of 1.67. Raymond James Financial has a 52 week low of $58.66 and a 52 week high of $87.22.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were paid a dividend of $0.22 per share. The ex-dividend date was Friday, September 29th. This represents a $0.88 annualized dividend and a dividend yield of 1.03%. Raymond James Financial’s dividend payout ratio is currently 20.90%.
Several analysts have commented on RJF shares. Wells Fargo & Company upgraded shares of Raymond James Financial from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $86.00 to $90.00 in a report on Thursday, September 14th. Buckingham Research restated a “buy” rating and set a $94.00 target price (up from $88.00) on shares of Raymond James Financial in a report on Monday, July 10th. Zacks Investment Research upgraded shares of Raymond James Financial from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a report on Wednesday, August 30th. BidaskClub upgraded shares of Raymond James Financial from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $85.00 target price on shares of Raymond James Financial in a report on Tuesday, August 29th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Raymond James Financial currently has an average rating of “Buy” and an average price target of $89.33.
In other news, CEO Paul C. Reilly sold 33,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $83.17, for a total transaction of $2,744,610.00. Following the transaction, the chief executive officer now directly owns 128,980 shares of the company’s stock, valued at $10,727,266.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bella Loykhter Allaire sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $82.83, for a total value of $331,320.00. Following the transaction, the insider now directly owns 37,513 shares in the company, valued at $3,107,201.79. The disclosure for this sale can be found here. 11.18% of the stock is currently owned by insiders.
Raymond James Financial Company Profile
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.