UMB Bank n.a. Purchases 208 Shares of Raymond James (NYSE:RJF)

UMB Bank n.a. grew its position in Raymond James (NYSE:RJF) by 50.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 618 shares of the financial services provider’s stock after purchasing an additional 208 shares during the quarter. UMB Bank n.a.’s holdings in Raymond James were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedmont Private Capital increased its stake in Raymond James by 5.1% in 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. Private Advisor Group LLC raised its stake in Raymond James by 3.6% during the 1st quarter. Private Advisor Group LLC now owns 2,682 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 93 shares during the period. Gilliland Jeter Wealth Management LLC lifted its holdings in Raymond James by 1.6% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 6,237 shares of the financial services provider’s stock worth $771,000 after purchasing an additional 96 shares in the last quarter. Covestor Ltd raised its position in shares of Raymond James by 77.0% during the first quarter. Covestor Ltd now owns 239 shares of the financial services provider’s stock valued at $31,000 after buying an additional 104 shares during the last quarter. Finally, Retirement Systems of Alabama grew its stake in Raymond James by 0.3% during the first quarter. Retirement Systems of Alabama now owns 41,523 shares of the financial services provider’s stock valued at $5,332,000 after acquiring an additional 107 shares in the last quarter. 83.83% of the stock is owned by hedge funds and other institutional investors.

Raymond James Stock Performance

Shares of RJF stock opened at $129.95 on Monday. The firm has a market cap of $26.76 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.88 and a beta of 1.02. Raymond James has a 52-week low of $91.67 and a 52-week high of $131.19. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.41. The company’s 50 day moving average is $118.82 and its 200 day moving average is $120.61.

Raymond James (NYSE:RJF) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.24 billion. Raymond James had a return on equity of 18.44% and a net margin of 13.16%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 earnings per share. On average, sell-side analysts anticipate that Raymond James will post 9.57 EPS for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.45 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.80 annualized dividend and a yield of 1.39%. Raymond James’s dividend payout ratio (DPR) is 20.29%.

Insider Buying and Selling

In other news, CEO Tashtego S. Elwyn sold 31,277 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $109.64, for a total transaction of $3,429,210.28. Following the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Tashtego S. Elwyn sold 31,277 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $109.64, for a total value of $3,429,210.28. Following the completion of the transaction, the chief executive officer now owns 35,380 shares in the company, valued at $3,879,063.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bella Loykhter Allaire sold 17,363 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $115.00, for a total value of $1,996,745.00. Following the completion of the transaction, the executive vice president now owns 75,586 shares of the company’s stock, valued at approximately $8,692,390. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RJF shares. Jefferies Financial Group increased their price objective on shares of Raymond James from $123.00 to $126.00 and gave the company a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. cut their price target on Raymond James from $137.00 to $135.00 and set an “overweight” rating for the company in a report on Thursday, July 25th. JMP Securities raised Raymond James from a “market perform” rating to a “market outperform” rating and set a $146.00 price objective on the stock in a report on Wednesday, October 9th. The Goldman Sachs Group cut their target price on shares of Raymond James from $127.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Finally, Wells Fargo & Company upped their price target on shares of Raymond James from $138.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $133.36.

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.