Raymond James (NYSE:RJF) Shares Sold by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. lowered its stake in shares of Raymond James (NYSE:RJF) by 33.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Wolff Wiese Magana LLC increased its stake 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 valued at $25,000 after purchasing an additional 198 shares in the last quarter. Quarry LP acquired a new position in shares of Raymond James in the 2nd quarter valued at $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Raymond James in the 3rd quarter valued at $32,000. Gladius Capital Management LP purchased a new position in Raymond James in the 3rd quarter worth $34,000. Finally, Peterson Financial Group Inc. purchased a new stake in Raymond James during the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 83.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RJF shares. The Goldman Sachs Group raised their price objective on Raymond James from $125.00 to $142.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their price target on shares of Raymond James from $123.00 to $126.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. Bank of America upped their price objective on shares of Raymond James from $136.00 to $152.00 and gave the company a “buy” rating in a 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 stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, JMP Securities upped their price target on shares of Raymond James from $146.00 to $150.00 and gave the company a “market outperform” rating in a report on Thursday, October 24th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Raymond James currently has an average rating of “Hold” and a consensus target price of $140.91.

Raymond James Price Performance

Shares of Raymond James stock opened at $169.28 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.02 and a quick ratio of 0.99. The business has a 50 day simple moving average of $144.61 and a two-hundred day simple moving average of $127.40. The stock has a market capitalization of $34.54 billion, a P/E ratio of 17.43, a PEG ratio of 0.99 and a beta of 0.99. Raymond James has a 12 month low of $103.41 and a 12 month high of $171.38.

Raymond James (NYSE:RJF) last posted its quarterly earnings data 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. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.32 billion. During the same period in the prior year, the company earned $2.13 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, 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.