Short Interest in Raymond James (NYSE:RJF) Expands By 21.2%

Raymond James (NYSE:RJF - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 7,610,000 shares, an increase of 21.2% from the March 15th total of 6,280,000 shares. Based on an average daily trading volume, of 1,570,000 shares, the days-to-cover ratio is currently 4.8 days. Currently, 3.7% of the company's stock are short sold.

Institutional Investors Weigh In On Raymond James

Several large investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its position in Raymond James by 33.5% in the 3rd quarter. Barclays PLC now owns 847,108 shares of the financial services provider's stock worth $103,738,000 after purchasing an additional 212,697 shares during the period. Virtu Financial LLC bought a new stake in shares of Raymond James during the third quarter worth $308,000. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Raymond James by 18.7% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,788 shares of the financial services provider's stock worth $341,000 after purchasing an additional 439 shares during the last quarter. World Investment Advisors LLC increased its stake in Raymond James by 7.3% in the 3rd quarter. World Investment Advisors LLC now owns 28,290 shares of the financial services provider's stock worth $3,464,000 after buying an additional 1,924 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its holdings in Raymond James by 1.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 67,439 shares of the financial services provider's stock valued at $8,259,000 after buying an additional 1,026 shares in the last quarter. 83.83% of the stock is owned by institutional investors.

Raymond James Price Performance

RJF stock traded up $0.52 during trading on Wednesday, reaching $135.29. The company's stock had a trading volume of 2,220,748 shares, compared to its average volume of 1,300,187. The company's fifty day moving average is $141.83 and its 200-day moving average is $151.62. Raymond James has a 1 year low of $104.24 and a 1 year high of $174.32. The company has a market capitalization of $27.72 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 0.90 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.03 and a debt-to-equity ratio of 0.35.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.42 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.15). Raymond James had a return on equity of 19.71% and a net margin of 14.06%. On average, research analysts expect that Raymond James will post 11.17 earnings per share for the current fiscal year.

Raymond James Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 1st were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, April 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. Raymond James's payout ratio is currently 19.51%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RJF. JPMorgan Chase & Co. upped their price objective on Raymond James from $166.00 to $172.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Keefe, Bruyette & Woods increased their price objective on shares of Raymond James from $170.00 to $177.00 and gave the company a "market perform" rating in a research report on Thursday, January 30th. Citigroup cut their target price on shares of Raymond James from $180.00 to $150.00 and set a "neutral" rating for the company in a research report on Wednesday, April 2nd. UBS Group raised Raymond James from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, JMP Securities dropped their target price on Raymond James from $190.00 to $175.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Raymond James currently has a consensus rating of "Hold" and a consensus price target of $160.27.

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.