Raymond James (RJF) Short Interest Up 38.5% in April

Raymond James (NYSE:RJF) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 2,638,416 shares, a growth of 38.5% from the March 29th total of 1,905,586 shares. Based on an average daily trading volume, of 815,475 shares, the short-interest ratio is presently 3.2 days. Approximately 2.1% of the company’s shares are short sold.

NYSE:RJF opened at $84.00 on Friday. Raymond James has a one year low of $69.11 and a one year high of $102.17. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.11. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 12.98 and a beta of 1.58.

Raymond James (NYSE:RJF) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $1.81 EPS for the quarter, beating the consensus estimate of $1.67 by $0.14. Raymond James had a net margin of 12.90% and a return on equity of 15.90%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Sell-side analysts anticipate that Raymond James will post 7.47 earnings per share for the current year.

A number of brokerages recently commented on RJF. Zacks Investment Research raised shares of Raymond James from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research note on Thursday, April 4th. ValuEngine raised shares of Raymond James from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Wells Fargo & Co boosted their price objective on shares of Raymond James from $92.00 to $94.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Citigroup boosted their price objective on shares of Raymond James from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, April 15th. Finally, Compass Point began coverage on shares of Raymond James in a research note on Monday, March 11th. They issued a “buy” rating and a $96.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $94.63.

In other news, insider Jeffrey E. Trocin sold 13,157 shares of Raymond James stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $91.11, for a total transaction of $1,198,734.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Allison sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.46, for a total transaction of $452,300.00. Following the completion of the transaction, the insider now directly owns 24,352 shares of the company’s stock, valued at approximately $2,202,881.92. The disclosure for this sale can be found here. Insiders have sold 109,156 shares of company stock valued at $9,951,492 in the last 90 days. Company insiders own 10.74% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Parallel Advisors LLC boosted its position in Raymond James by 215.3% during the 1st quarter. Parallel Advisors LLC now owns 309 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 211 shares during the last quarter. CSat Investment Advisory L.P. increased its position in Raymond James by 86.5% during the fourth quarter. CSat Investment Advisory L.P. now owns 345 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 160 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Raymond James during the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc grew its stake in Raymond James by 104.9% during the first quarter. AdvisorNet Financial Inc now owns 379 shares of the financial services provider’s stock worth $30,000 after buying an additional 194 shares during the period. Finally, Bremer Trust National Association purchased a new stake in Raymond James during the fourth quarter worth approximately $31,000. 71.21% of the stock is currently owned by institutional investors.

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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.

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