Huntington National Bank Buys 511 Shares of Raymond James (NYSE:RJF)

Huntington National Bank grew its stake in Raymond James (NYSE:RJF) by 22.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,783 shares of the financial services provider’s stock after purchasing an additional 511 shares during the quarter. Huntington National Bank’s holdings in Raymond James were worth $432,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. TCTC Holdings LLC boosted its holdings in 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 acquiring an additional 106 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Plato Investment Management Ltd grew its position 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 worth $37,000 after purchasing an additional 217 shares in the last quarter. Quarry LP increased its stake in Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Raymond James in the 4th quarter worth approximately $68,000. Institutional investors own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RJF. The Goldman Sachs Group decreased their price target on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday. UBS Group upgraded Raymond James from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. StockNews.com lowered shares of Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities lifted their price objective on shares of Raymond James from $175.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Raymond James from $170.00 to $177.00 and gave the company a “market perform” rating in a research report on Thursday, January 30th. Nine 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 company’s stock. Based on data from MarketBeat.com, Raymond James presently has an average rating of “Hold” and a consensus price target of $164.64.

Raymond James Price Performance

Raymond James stock opened at $123.51 on Friday. The firm has a market capitalization of $25.31 billion, a P/E ratio of 12.05, a PEG ratio of 0.90 and a beta of 0.94. Raymond James has a one year low of $104.24 and a one year high of $174.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. The business has a fifty day moving average price of $151.43 and a 200-day moving average price of $150.78.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share 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, equities research analysts forecast that Raymond James will post 11.17 EPS for the current year.

Raymond James Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.62%. The ex-dividend date is Tuesday, April 1st. Raymond James’s dividend payout ratio is presently 19.51%.

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.