Basswood Capital Management L.L.C. Raises Stock Holdings in Raymond James (NYSE:RJF)

Basswood Capital Management L.L.C. lifted its holdings in Raymond James (NYSE:RJFFree Report) by 27.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,558 shares of the financial services provider’s stock after buying an additional 34,007 shares during the quarter. Basswood Capital Management L.L.C. owned approximately 0.08% of Raymond James worth $17,568,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in Raymond James during the fourth quarter worth about $30,000. OLD Point Trust & Financial Services N A bought a new stake in Raymond James in the fourth quarter worth $33,000. CVA Family Office LLC purchased a new stake in shares of Raymond James in the fourth quarter worth $50,000. Headlands Technologies LLC increased its holdings in shares of Raymond James by 139.8% during the third quarter. Headlands Technologies LLC now owns 518 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 302 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Raymond James by 52.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 558 shares of the financial services provider’s stock worth $62,000 after purchasing an additional 192 shares during the last quarter. 83.83% of the stock is currently owned by institutional investors.

Insider Transactions at Raymond James

In related news, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $121.01, for a total transaction of $505,095.74. Following the completion of the sale, the chief executive officer now directly owns 51,009 shares in the company, valued at $6,172,599.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider James E. Bunn sold 11,095 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $124.44, for a total value of $1,380,661.80. Following the transaction, the insider now directly owns 46,977 shares of the company’s stock, valued at approximately $5,845,817.88. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven M. Raney sold 4,174 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $121.01, for a total value of $505,095.74. Following the sale, the chief executive officer now directly owns 51,009 shares of the company’s stock, valued at approximately $6,172,599.09. The disclosure for this sale can be found here. Company insiders own 9.74% of the company’s stock.

Raymond James Stock Performance

NYSE:RJF traded down $0.20 during trading hours on Friday, reaching $120.03. The company had a trading volume of 506,998 shares, compared to its average volume of 772,929. The firm has a market cap of $24.88 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.82 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 0.98 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average price is $124.50 and its 200-day moving average price is $117.84. Raymond James has a 52 week low of $91.67 and a 52 week high of $131.19.

Raymond James (NYSE:RJFGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $2.31 EPS for the quarter, missing the consensus estimate of $2.32 by ($0.01). Raymond James had a return on equity of 17.94% and a net margin of 12.72%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm earned $2.03 EPS. The business’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Raymond James will post 9.55 EPS for the current year.

Raymond James Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, July 1st. Raymond James’s payout ratio is currently 21.77%.

Analyst Ratings Changes

RJF has been the topic of a number of analyst reports. JMP Securities reiterated a “market perform” rating on shares of Raymond James in a research note on Tuesday, April 9th. Bank of America dropped their target price on shares of Raymond James from $145.00 to $141.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Citigroup raised their price target on shares of Raymond James from $112.00 to $132.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. TD Cowen lowered their price objective on Raymond James from $131.00 to $126.00 and set a “hold” rating on the stock in a research report on Thursday, April 25th. Finally, Morgan Stanley increased their target price on Raymond James from $113.00 to $123.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $126.22.

View Our Latest Analysis on Raymond James

Raymond James Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Raymond James (NYSE:RJF)

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