Raymond James (NYSE:RJF) Given New $143.00 Price Target at Wells Fargo & Company

Raymond James (NYSE:RJF) had its target price reduced by Wells Fargo & Company from $176.00 to $143.00 in a research report report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

RJF has been the subject of several other reports. Bank of America lifted their target price on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. JMP Securities cut their target price on Raymond James from $190.00 to $175.00 and set a “market outperform” rating on the stock in a research note on Tuesday. Morgan Stanley boosted their price target on Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Citigroup dropped their price objective on Raymond James from $180.00 to $150.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 2nd. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $160.27.

Raymond James Stock Performance

Raymond James stock opened at $124.70 on Tuesday. The stock’s 50 day moving average is $148.66 and its 200 day moving average is $151.03. The company has a market capitalization of $25.55 billion, a P/E ratio of 12.17, a PEG ratio of 0.90 and a beta of 0.94. Raymond James has a twelve month low of $104.24 and a twelve month high of $174.32. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping 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%. On average, equities research analysts predict that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, April 1st. Raymond James’s payout ratio is 19.51%.

Hedge Funds Weigh In On Raymond James

A number of institutional investors have recently bought and sold shares of the stock. TCTC Holdings LLC increased its position in Raymond James by 176.7% in the fourth quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares in the last quarter. Y.D. More Investments Ltd grew its stake in shares of Raymond James by 121.0% during the 4th quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 127 shares during the period. Plato Investment Management Ltd increased its holdings 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 acquiring an additional 217 shares in the last quarter. Covestor Ltd raised its stake in Raymond James by 56.7% during the 4th quarter. Covestor Ltd now owns 337 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 122 shares during the period. Finally, Mizuho Bank Ltd. purchased a new position in Raymond James during the fourth quarter valued at approximately $53,000. 83.83% of the stock is owned by institutional investors.

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.