Raymond James Financial, Inc. (NYSE:RJF) Plans Quarterly Dividend of $0.54

Raymond James Financial, Inc. (NYSE:RJF) declared a quarterly dividend on Thursday, February 19th. Shareholders of record on Wednesday, April 1st will be given a dividend of 0.54 per share by the financial services provider on Wednesday, April 15th. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, April 1st.

Raymond James Financial has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 3 years. Raymond James Financial has a payout ratio of 19.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Raymond James Financial to earn $12.04 per share next year, which means the company should continue to be able to cover its $2.16 annual dividend with an expected future payout ratio of 17.9%.

Raymond James Financial Price Performance

Shares of RJF traded down $2.13 during mid-day trading on Friday, reaching $155.90. 579,661 shares of the stock traded hands, compared to its average volume of 1,429,514. The company has a market cap of $30.73 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.20 and a beta of 1.00. Raymond James Financial has a 1 year low of $117.57 and a 1 year high of $177.66. The firm has a fifty day moving average price of $165.64 and a 200 day moving average price of $164.69. The company has a current ratio of 1.06, a quick ratio of 1.04 and a debt-to-equity ratio of 0.42.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, January 28th. The financial services provider reported $2.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.83 billion. Raymond James Financial had a return on equity of 17.65% and a net margin of 13.07%.The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company earned $2.93 earnings per share. As a group, equities research analysts predict that Raymond James Financial will post 11.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RJF. Barclays initiated coverage on Raymond James Financial in a report on Wednesday, January 28th. They set an “overweight” rating and a $191.00 price objective for the company. Citizens Jmp increased their target price on Raymond James Financial from $185.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 23rd. Bank of America raised their price target on Raymond James Financial from $194.00 to $196.00 and gave the company a “neutral” rating in a research report on Wednesday, December 10th. Morgan Stanley reiterated a “positive” rating on shares of Raymond James Financial in a report on Monday, December 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Raymond James Financial in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, Raymond James Financial has a consensus rating of “Hold” and an average price target of $182.17.

Raymond James Financial Company Profile

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.