Wells Fargo & Company Cuts Raymond James (NYSE:RJF) Price Target to $143.00

Raymond James (NYSE:RJF) had its price objective decreased by analysts at Wells Fargo & Company from $176.00 to $143.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 4.85% from the company’s current price.

A number of other analysts have also issued reports on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Citigroup lowered their price objective on Raymond James from $180.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America boosted their price objective on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group lowered their price objective on Raymond James from $198.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday, April 3rd. Nine analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $160.27.

Raymond James Stock Up 9.2 %

Shares of RJF opened at $136.39 on Tuesday. The firm has a market cap of $27.95 billion, a P/E ratio of 13.31, a price-to-earnings-growth 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’s 50-day moving average price is $147.33 and its 200 day moving average price is $151.01. 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 issued its quarterly earnings data on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. On average, sell-side analysts forecast that Raymond James will post 11.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RJF. Coldstream Capital Management Inc. lifted its position in Raymond James by 1.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,228 shares of the financial services provider’s stock worth $528,000 after acquiring an additional 64 shares in the last quarter. CX Institutional lifted its position in Raymond James by 2.9% during the 4th quarter. CX Institutional now owns 2,323 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 66 shares in the last quarter. Crestwood Advisors Group LLC lifted its position in Raymond James by 3.5% during the 4th quarter. Crestwood Advisors Group LLC now owns 1,982 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 67 shares in the last quarter. Formidable Asset Management LLC lifted its position in Raymond James by 0.9% during the 4th quarter. Formidable Asset Management LLC now owns 7,901 shares of the financial services provider’s stock worth $1,227,000 after acquiring an additional 67 shares in the last quarter. Finally, Stablepoint Partners LLC lifted its position in Raymond James by 0.5% during the 4th quarter. Stablepoint Partners LLC now owns 14,651 shares of the financial services provider’s stock worth $2,276,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 83.83% of the company’s stock.

About Raymond James

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.