Nomura Maintains Raymond James Financial to Neutral with Price Target $62.00

Brokerage firm Nomura Maintains its rating on Raymond James Financial(NYSE:RJF). In a research note issued to the investors, the brokerage major Raises the price-target to $62.00 per share. The shares have been rated Neutral. The rating by Nomura was issued on Sep 30, 2016.

In a different note, On Jul 11, 2016, Nomura said it Maintains its rating on Raymond James Financial. In the research note, the firm Lowers the price-target to $62.00 per share. The shares have been rated ‘Neutral’ by the firm.

Raymond James Financial (RJF) made into the market gainers list on Tuesdays trading session with the shares advancing 0.91% or 0.53 points. Due to strong positive momentum, the stock ended at $58.56, which is also near the day’s high of $59.17. The stock began the session at $58.25 and the volume stood at 4,98,884 shares. The 52-week high of the shares is $59.81 and the 52 week low is $39.84. The company has a current market capitalization of $8,297 M and it has 14,16,84,170 shares in outstanding.

Raymond James Financial(RJF) last announced its earnings results on Jul 20, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.36B. Analysts had an estimated revenue of $1.33B. Earnings per share were $0.93. Analysts had estimated an EPS of $0.90.

Several Insider Transactions has been reported to the SEC. On Sep 2, 2016, Jeffrey P Julien (CFO, Executive VP – Fin) sold 18,600 shares at $57.62 per share price.Also, On Aug 30, 2016, Dennis W Zank (Chief Operating Officer) sold 10,010 shares at $57.64 per share price.On Aug 18, 2016, Tashtego S Elwyn (President – RJA) sold 3,791 shares at $56.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Raymond James Financial Inc. is a financial services company providing private client capital markets asset management banking and other services to individuals corporations and municipalities. The Company operates in five reportable segments: Private Client Group; Capital Markets; Asset Management; RJ Bank and the Other Segment. Private Client Group offers securities transaction and financial planning services. Capital Markets consist of equity fixed income products and services. Asset Management offers investment advisory services for individual and institutional investment portfolios along with mutual funds. RJ Bank provides corporate SBL and residential loans as well as FDIC insured deposit accounts to clients of broker-dealer subsidiaries and to general public. Other Segment includes principal capital and private equity activities corporate overhead costs of Raymond James Financial such as interest cost on public debt and the acquisition and integration costs.

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