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

Raymond James Financial, Inc. (NYSE:RJF) announced a quarterly dividend on Wednesday, May 13th. Shareholders of record on Wednesday, July 1st will be given a dividend of 0.54 per share by the financial services provider on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, July 1st.

Raymond James Financial has increased its dividend payment by an average of 0.1%annually 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% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Raymond James Financial to earn $13.56 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 15.9%.

Raymond James Financial Trading Up 0.3%

NYSE:RJF opened at $154.00 on Thursday. The company has a market cap of $30.01 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. Raymond James Financial has a twelve month low of $138.82 and a twelve month high of $177.66. The business has a 50 day moving average price of $149.51 and a two-hundred day moving average price of $157.91. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial (NYSE:RJF) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $2.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.07. Raymond James Financial had a net margin of 13.04% and a return on equity of 17.93%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company earned $2.42 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, analysts expect that Raymond James Financial will post 11.83 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on RJF. Jefferies Financial Group lowered their price target on shares of Raymond James Financial from $165.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Morgan Stanley increased their price objective on shares of Raymond James Financial from $171.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. TD Cowen reaffirmed a “hold” rating and issued a $159.00 target price (up from $156.00) on shares of Raymond James Financial in a research report on Thursday, April 23rd. UBS Group reiterated a “neutral” rating and set a $166.00 target price (up from $158.00) on shares of Raymond James Financial in a report on Thursday, April 23rd. Finally, Weiss Ratings raised Raymond James Financial from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $173.25.

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.