Commerce Bank Grows Stake in Raymond James (NYSE:RJF)

Commerce Bank grew its stake in shares of Raymond James (NYSE:RJF) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,445 shares of the financial services provider’s stock after purchasing an additional 658 shares during the quarter. Commerce Bank’s holdings in Raymond James were worth $1,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wolff Wiese Magana LLC lifted its position in Raymond James by 3,960.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 203 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 198 shares in the last quarter. Quarry LP acquired a new position in shares of Raymond James during the second quarter worth $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Raymond James in the third quarter valued at $32,000. Gladius Capital Management LP acquired a new stake in Raymond James during the 3rd quarter valued at $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter worth $37,000. Hedge funds and other institutional investors own 83.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JMP Securities raised their target price on Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their price objective on Raymond James from $140.00 to $152.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group upped their target price on Raymond James from $125.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Bank of America lifted their price target on shares of Raymond James from $136.00 to $152.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, TD Cowen increased their price objective on shares of Raymond James from $128.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Raymond James has an average rating of “Hold” and an average price target of $140.91.

Raymond James Trading Up 0.9 %

NYSE RJF opened at $165.18 on Monday. The firm has a market capitalization of $34.02 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. Raymond James has a one year low of $102.42 and a one year high of $165.42. The company has a 50-day simple moving average of $139.90 and a 200-day simple moving average of $125.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.02.

Raymond James (NYSE:RJF) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.41 by $0.54. The company had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.32 billion. Raymond James had a return on equity of 19.61% and a net margin of 13.86%. The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.13 earnings per share. On average, equities analysts forecast that Raymond James will post 10.83 earnings per share for the current year.

Raymond James Profile

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.