Basswood Capital Management L.L.C. Cuts Stock Position in Raymond James (NYSE:RJF)

Basswood Capital Management L.L.C. trimmed its position in shares of Raymond James (NYSE:RJF) by 33.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 102,367 shares of the financial services provider’s stock after selling 51,460 shares during the quarter. Basswood Capital Management L.L.C.’s holdings in Raymond James were worth $12,536,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Metis Global Partners LLC lifted its position in shares of 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 in the last quarter. Wedmont Private Capital lifted its holdings in Raymond James by 5.1% during the 3rd 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 in the last quarter. Portside Wealth Group LLC boosted its position in Raymond James by 3.9% in the 3rd quarter. Portside Wealth Group LLC now owns 2,495 shares of the financial services provider’s stock valued at $306,000 after buying an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC grew its stake in shares of Raymond James by 1.6% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 96 shares in the last quarter. Finally, MFA Wealth Advisors LLC increased its position 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 acquiring an additional 105 shares during the period. 83.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RJF has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. JMP Securities increased their price target on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research report on Thursday, October 24th. Bank of America boosted their price objective on Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Morgan Stanley raised their target price on shares of Raymond James from $132.00 to $145.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Jefferies Financial Group lifted their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research note on Friday, October 4th. Nine analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $140.91.

Raymond James Stock Down 0.5 %

Shares of NYSE:RJF opened at $169.28 on Monday. The firm has a 50 day simple moving average of $144.61 and a 200-day simple moving average of $127.40. Raymond James has a twelve month low of $103.41 and a twelve month high of $171.38. The company has a current ratio of 1.02, a quick ratio of 0.99 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $34.54 billion, a PE ratio of 17.43, a P/E/G ratio of 0.99 and a beta of 0.99.

Raymond James (NYSE:RJF) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.54. The firm had revenue of $3.46 billion during 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%. Raymond James’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 earnings per share. On average, equities analysts predict that Raymond James will post 10.83 EPS for the current fiscal 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.