Raymond James Financial, Inc. (NYSE:RJF) declared a quarterly dividend on Monday, May 22nd. Investors of record on Monday, July 3rd will be paid a dividend of 0.22 per share by the financial services provider on Monday, July 17th. This represents a $0.88 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, June 29th.
Raymond James Financial has raised its dividend by an average of 2.3% per year over the last three years and has raised its dividend every year for the last 4 years. Raymond James Financial has a dividend payout ratio of 18.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Raymond James Financial to earn $5.49 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 16.0%.
Shares of Raymond James Financial (NYSE:RJF) traded down 1.26% during trading on Friday, reaching $72.88. 65,195 shares of the company traded hands. The firm’s 50 day moving average price is $74.29 and its 200-day moving average price is $74.74. Raymond James Financial has a 52 week low of $46.30 and a 52 week high of $81.92. The company has a market capitalization of $10.45 billion, a price-to-earnings ratio of 19.04 and a beta of 1.53.
Raymond James Financial (NYSE:RJF) last issued its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.14. Raymond James Financial had a net margin of 9.91% and a return on equity of 12.02%. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same period in the prior year, the company earned $0.90 EPS. Raymond James Financial’s revenue was up 19.1% on a year-over-year basis. Equities analysts anticipate that Raymond James Financial will post $4.95 EPS for the current fiscal year.
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RJF has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $85.00 price objective on shares of Raymond James Financial in a research note on Thursday, April 6th. Nomura reaffirmed a “buy” rating and set a $91.00 price objective on shares of Raymond James Financial in a research note on Sunday, April 9th. Finally, Instinet dropped their target price on Raymond James Financial to $89.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.00.
In other Raymond James Financial news, EVP Jonathan N. Santelli sold 1,880 shares of the stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $73.30, for a total transaction of $137,804.00. Following the transaction, the executive vice president now owns 3,000 shares in the company, valued at $219,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 11.18% of the company’s stock.
About Raymond James Financial
Raymond James Financial, Inc (RJF) is a financial holding company. The Company’s subsidiaries include Raymond James & Associates, Inc (RJ&A), Raymond James Financial Services, Inc (RJFS), Raymond James Financial Services Advisors, Inc (RJFSA), Raymond James Ltd. (RJ Ltd.), Eagle Asset Management, Inc (Eagle), and Raymond James Bank, N.A.
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