First Hawaiian Bank Has $4.02 Million Stock Holdings in Raymond James (NYSE:RJF)

First Hawaiian Bank lowered its stake in shares of Raymond James (NYSE:RJF) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,860 shares of the financial services provider’s stock after selling 124 shares during the quarter. First Hawaiian Bank’s holdings in Raymond James were worth $4,017,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its stake in shares of Raymond James by 3,960.0% during the third quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 198 shares during the last quarter. Quarry LP bought a new position in Raymond James in the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Raymond James in the 3rd quarter valued at $32,000. Gladius Capital Management LP acquired a new stake in shares of Raymond James in the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. bought a new stake in shares of Raymond James during the third quarter worth $37,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Insider Buying and Selling

In other news, insider Tashtego S. Elwyn sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $159.47, for a total value of $1,594,700.00. Following the completion of the transaction, the insider now owns 32,688 shares in the company, valued at $5,212,755.36. This trade represents a 23.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bella Loykhter Allaire sold 3,451 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $165.62, for a total value of $571,554.62. Following the sale, the insider now owns 80,421 shares in the company, valued at $13,319,326.02. The trade was a 4.11 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,621 shares of company stock worth $10,729,488. 9.74% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on RJF shares. JMP Securities lifted their price objective on Raymond James from $146.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 24th. Bank of America boosted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group raised shares of Raymond James from a “neutral” rating to a “buy” rating and raised their price objective for the company from $161.00 to $185.00 in a research note on Monday. TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $166.00 price target (up from $151.00) on shares of Raymond James in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $152.73.

Raymond James Stock Up 0.2 %

RJF stock traded up $0.34 during mid-day trading on Wednesday, hitting $159.32. 849,261 shares of the company were exchanged, compared to its average volume of 966,649. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.00 and a current ratio of 1.02. Raymond James has a 1-year low of $104.24 and a 1-year high of $171.38. The firm’s 50 day simple moving average is $159.40 and its 200 day simple moving average is $134.56. The firm has a market cap of $32.51 billion, a P/E ratio of 16.41, a P/E/G ratio of 0.91 and a beta of 1.02.

Raymond James (NYSE:RJF) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Raymond James had a net margin of 13.86% and a return on equity of 19.30%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 EPS. On average, sell-side analysts predict that Raymond James will post 10.85 EPS for the current fiscal year.

Raymond James Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.50 per share. This is a boost from Raymond James’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Thursday, January 2nd. Raymond James’s dividend payout ratio is currently 20.60%.

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.