Cardinal Capital Management buys $696,592 stake in Raymond James Financial (RJF)

Raymond James Financial (RJF) : Cardinal Capital Management scooped up 1,117 additional shares in Raymond James Financial during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 12,919 shares of Raymond James Financial which is valued at $696,592.Raymond James Financial makes up approximately 0.29% of Cardinal Capital Management’s portfolio.

Raymond James Financial closed down -0.22 points or -0.41% at $53.87 with 11,98,046 shares getting traded on Wednesday. Post opening the session at $53.92, the shares hit an intraday low of $53.39 and an intraday high of $54.23 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Oakbrook Investments added RJF to its portfolio by purchasing 5,700 company shares during the most recent quarter which is valued at $271,491. Raymond James Financial makes up approx 0.02% of Oakbrook Investments’s portfolio.Mai Capital Management boosted its stake in RJF in the latest quarter, The investment management firm added 71 additional shares and now holds a total of 14,121 shares of Raymond James Financial which is valued at $636,998. Raymond James Financial makes up approx 0.05% of Mai Capital Management’s portfolio.

On the company’s financial health, Raymond James Financial reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Apr 20, 2016. Analyst had a consensus of $0.75. The company had revenue of $1311.50 million for the quarter, compared to analysts expectations of $1290.23 million. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Many Wall Street Analysts have commented on Raymond James Financial. Raymond James Financial was Downgraded by Nomura to ” Neutral” on Jan 25, 2016.

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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