Raymond James (NYSE:RJF) Comfortable with Capital Levels

Raymond James (NYSE:RJF) moved $75 million back to their parent company recently, signifying they're comfortable with their capital levels, according to Ticonderoga.

"RJF presented at a conference hosted by one of our competitors yesterday, and the outlook was bullish across a host of metrics, including credit quality, capital, rates, and recruiting. Combined with a more bullish tone toward equities and retail, we are raising our price target to $35...RJF recently moved $75 million back to the parent company from the bank. This is a bullish sign, as it indicates extreme comfort with capital levels at the bank and may afford the company an opportunity to improve returns somewhere else in the organization," they said.

Ticonderoga maintains a "Buy" rating on Raymond James, which closed Thursday at $31.12, up $0.11, or 0.35 percent. They raised their price target on them from $33 to $35.