Basswood Capital Management L.L.C. Sells 51,460 Shares of Raymond James (NYSE:RJF)

Basswood Capital Management L.L.C. decreased its stake in shares of Raymond James (NYSE:RJF - Free Report) by 33.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 102,367 shares of the financial services provider's stock after selling 51,460 shares during the period. Basswood Capital Management L.L.C.'s holdings in Raymond James were worth $12,536,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Raymond James by 1.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 473,140 shares of the financial services provider's stock worth $57,941,000 after purchasing an additional 7,028 shares in the last quarter. XTX Topco Ltd increased its stake in Raymond James by 390.7% in the 2nd quarter. XTX Topco Ltd now owns 8,351 shares of the financial services provider's stock worth $1,032,000 after acquiring an additional 6,649 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Raymond James in the 3rd quarter worth about $3,561,000. Wealth Enhancement Advisory Services LLC increased its stake in Raymond James by 105.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 31,021 shares of the financial services provider's stock worth $3,834,000 after acquiring an additional 15,940 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Raymond James by 529.4% in the 1st quarter. Cetera Investment Advisers now owns 21,656 shares of the financial services provider's stock worth $2,781,000 after acquiring an additional 18,215 shares during the last quarter. Hedge funds and other institutional investors own 83.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. TD Cowen upped their target price on Raymond James from $128.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their target price on Raymond James from $125.00 to $142.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their target price on Raymond James from $140.00 to $152.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Jefferies Financial Group increased their price objective on Raymond James from $123.00 to $126.00 and gave the company a "hold" rating in a research report on Friday, October 4th. Finally, Bank of America raised their price target on Raymond James from $136.00 to $152.00 and gave the stock a "buy" rating in a research 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's stock. Based on data from MarketBeat.com, Raymond James currently has an average rating of "Hold" and a consensus price target of $140.91.

Raymond James Stock Performance

RJF traded down $1.84 during midday trading on Monday, reaching $167.44. The company had a trading volume of 536,152 shares, compared to its average volume of 1,139,565. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average of $144.61 and a two-hundred day moving average of $127.40. The company has a market cap of $34.17 billion, a P/E ratio of 17.21, a P/E/G ratio of 0.99 and a beta of 0.99. Raymond James has a 1 year low of $104.24 and a 1 year high of $171.38.

Raymond James (NYSE:RJF - Get Free Report) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.54. The firm had revenue of $3.46 billion during the quarter, compared to analysts' expectations of $3.32 billion. Raymond James had a return on equity of 19.30% and a net margin of 13.86%. The firm's revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the business posted $2.13 earnings per share. As a group, equities research analysts predict that Raymond James will post 10.83 earnings per share for the current fiscal year.

Raymond James Company 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.