Intrust Bank NA Grows Position in Raymond James (NYSE:RJF)

Intrust Bank NA raised its stake in Raymond James (NYSE:RJF) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Raymond James by 31.4% in the third quarter. Wellington Management Group LLP now owns 12,114,502 shares of the financial services provider’s stock valued at $1,483,542,000 after acquiring an additional 2,898,242 shares during the last quarter. State Street Corp lifted its stake in shares of Raymond James by 0.7% in the 3rd quarter. State Street Corp now owns 7,974,740 shares of the financial services provider’s stock valued at $976,587,000 after purchasing an additional 54,265 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Raymond James by 12.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,544,610 shares of the financial services provider’s stock worth $556,533,000 after purchasing an additional 488,245 shares during the period. Geode Capital Management LLC increased its position in Raymond James by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 4,351,684 shares of the financial services provider’s stock worth $531,013,000 after purchasing an additional 12,869 shares in the last quarter. Finally, Norges Bank purchased a new position in Raymond James in the fourth quarter valued at approximately $294,647,000. 83.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RJF shares. Bank of America boosted their price objective on shares of Raymond James from $198.00 to $201.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Morgan Stanley upped their price target on shares of Raymond James from $149.00 to $161.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. StockNews.com cut Raymond James from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. upped their target price on Raymond James from $166.00 to $172.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, JMP Securities raised their target price on Raymond James from $175.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, January 30th. Nine equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $167.55.

Raymond James Trading Down 2.6 %

RJF opened at $138.97 on Friday. The stock has a market capitalization of $28.48 billion, a PE ratio of 13.56, a P/E/G ratio of 0.90 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.03 and a quick ratio of 1.01. Raymond James has a 12-month low of $104.24 and a 12-month high of $174.32. The firm’s fifty day moving average price is $155.00 and its 200 day moving average price is $150.42.

Raymond James (NYSE:RJF) last issued its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $2.93 EPS for the quarter, topping the consensus estimate 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, research analysts expect that Raymond James will post 11.17 EPS for the current fiscal year.

Raymond James Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 1st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.44%. Raymond James’s dividend payout ratio (DPR) is 19.51%.

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.