Raymond James (NYSE:RJF) Shares Purchased by Commerce Bank

Commerce Bank raised its stake in Raymond James (NYSE:RJF) by 6.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,445 shares of the financial services provider’s stock after acquiring an additional 658 shares during the period. Commerce Bank’s holdings in Raymond James were worth $1,279,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atria Investments Inc raised its position in shares of Raymond James by 37.3% during the first quarter. Atria Investments Inc now owns 31,287 shares of the financial services provider’s stock worth $4,018,000 after purchasing an additional 8,507 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Raymond James by 1.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider’s stock valued at $57,941,000 after buying an additional 7,028 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Raymond James by 390.7% in the second quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider’s stock worth $1,032,000 after buying an additional 6,649 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of Raymond James by 105.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider’s stock worth $3,834,000 after acquiring an additional 15,940 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in shares of Raymond James by 529.4% during the first quarter. Cetera Investment Advisers now owns 21,656 shares of the financial services provider’s stock valued at $2,781,000 after acquiring an additional 18,215 shares during the period. Institutional investors and hedge funds own 83.83% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on RJF shares. JMP Securities raised their price objective on shares of Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 24th. Bank of America lifted their price target on Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. The Goldman Sachs Group lifted their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, TD Cowen increased their price target on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Raymond James has a consensus rating of “Hold” and a consensus price target of $140.91.

Raymond James Price Performance

NYSE RJF opened at $165.18 on Monday. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $34.02 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. Raymond James has a 12-month low of $102.42 and a 12-month high of $165.42. The company has a 50 day moving average price of $139.90 and a two-hundred day moving average price of $125.89.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same period last year, the business earned $2.13 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts predict that Raymond James will post 10.83 earnings per share for the current fiscal year.

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.