Bank of Montreal Can Raises Stock Position in Raymond James (NYSE:RJF)

Bank of Montreal Can grew its holdings in shares of Raymond James (NYSE:RJF) by 3.5% during the third quarter, Holdings Channel reports. The firm owned 275,189 shares of the financial services provider’s stock after purchasing an additional 9,378 shares during the quarter. Bank of Montreal Can’s holdings in Raymond James were worth $33,700,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Metis Global Partners LLC increased its stake in Raymond James by 1.4% during the third quarter. Metis Global Partners LLC now owns 6,115 shares of the financial services provider’s stock worth $749,000 after purchasing an additional 82 shares during the period. Wedmont Private Capital increased its stake in shares of Raymond James by 5.1% during the third quarter. Wedmont Private Capital now owns 1,769 shares of the financial services provider’s stock worth $222,000 after buying an additional 86 shares during the period. Portside Wealth Group LLC increased its stake in shares of Raymond James by 3.9% during the third quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock worth $306,000 after buying an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC increased its stake in shares of Raymond James by 1.6% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after buying an additional 96 shares during the period. Finally, MFA Wealth Advisors LLC increased its stake in shares of Raymond James by 2.7% during the third quarter. MFA Wealth Advisors LLC now owns 4,051 shares of the financial services provider’s stock worth $496,000 after buying an additional 105 shares during the period. 83.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on RJF shares. JMP Securities upped their target price 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. TD Cowen upped their target price on shares of Raymond James from $128.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Raymond James from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their target price on shares of Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on shares of Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $140.91.

Raymond James Price Performance

RJF stock opened at $170.10 on Friday. The company has a market capitalization of $35.03 billion, a P/E ratio of 17.52, a PEG ratio of 0.98 and a beta of 0.99. Raymond James has a twelve month low of $102.42 and a twelve month high of $170.93. The business has a 50 day simple moving average of $142.79 and a 200-day simple moving average of $126.80. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41.

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

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.