Intrust Bank NA Increases Stock Holdings in Raymond James (NYSE:RJF)

Intrust Bank NA lifted its stake in shares of Raymond James (NYSE:RJF) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,634 shares of the financial services provider’s stock after purchasing an additional 423 shares during the quarter. Intrust Bank NA’s holdings in Raymond James were worth $875,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. TCTC Holdings LLC raised its position in Raymond James by 176.7% during the 4th quarter. TCTC Holdings LLC now owns 166 shares of the financial services provider’s stock worth $26,000 after buying an additional 106 shares during the last quarter. Y.D. More Investments Ltd raised its holdings in Raymond James by 121.0% during the fourth quarter. Y.D. More Investments Ltd now owns 232 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 127 shares in the last quarter. Plato Investment Management Ltd lifted its position in Raymond James by 1,142.1% in the fourth quarter. Plato Investment Management Ltd now owns 236 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 217 shares during the period. Quarry LP lifted its holdings in shares of Raymond James by 80.3% in the 3rd quarter. Quarry LP now owns 420 shares of the financial services provider’s stock valued at $51,000 after buying an additional 187 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Raymond James in the fourth quarter valued at approximately $68,000. 83.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on RJF. StockNews.com downgraded Raymond James from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Raymond James from $170.00 to $177.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JMP Securities increased their target price on shares of Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Bank of America boosted their price target on Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, Citigroup raised their price objective on Raymond James from $145.00 to $170.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Nine analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Raymond James presently has a consensus rating of “Hold” and a consensus target price of $167.55.

Raymond James Stock Down 2.6 %

Shares of NYSE:RJF opened at $138.97 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $28.48 billion, a P/E ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04. Raymond James has a 52-week low of $104.24 and a 52-week high of $174.32. The stock’s fifty day simple moving average is $155.00 and its 200-day simple moving average is $150.42.

Raymond James (NYSE:RJF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.62 by $0.31. Raymond James had a net margin of 14.06% and a return on equity of 19.71%. As a group, equities research analysts forecast that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, April 1st. This represents a $2.00 annualized dividend and a yield of 1.44%. Raymond James’s payout ratio is currently 19.51%.

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.