Investors with an interest in Financial - Investment Bank stocks have likely encountered both Raymond James Financial, Inc. (RJF) and The Charles Schwab Corporation (SCHW) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The proven Zack ...

Given the revival in corporate debt and equity issuances and deal-making activities, the Zacks Investment Bank industry is expected to witness a turnaround in investment banking fees in the quarters ahead. Clarity on several macroeconomic factors will also keep up the momentum. Heightened client activity and a rise in trading volume will support the trading business in the near term. While costs related to technological upgrades might impede the bottom line, industry players will witness improved operating ...

Shares of Raymond James (RJF) gained 1.2% in after-hours trading following the release of its fourth quarter and fiscal 2024 results (ended Sept. 30). Its fourth-quarter fiscal 2024 adjusted earnings of $2.95 per share handily surpassed the Zacks Consensus Estimate of $2.44. The bottom line surged 38% from the prior-year quarter.See the Zacks Earnings Calendar to stay ahead of market-making news.Results benefited from robust investment banking (IB) and brokerage performance in the Capital markets segment. T ...

Financial Data and Key Metrics Changes - The company reported record fiscal fourth-quarter net revenues of $3.46 billion, net income available to common shareholders of $601 million, and earnings per diluted share of $2.86, with adjusted net income available to common shareholders at $621 million or $2.95 per diluted share [6][7] - For fiscal year 2024, the company generated record net revenues of $12.82 billion and record net income available to common shareholders of $2.06 billion, representing a 10% and 19% increase respectively over the prior year [13][18] - The annualized return on common equity was 21.2% and the annualized adjusted return on tangible common equity was 25.8% [7] Business Line Data and Key Metrics Changes - The Private Client Group generated record quarterly net revenues of $2.48 billion and pre-tax income of $461 million, driven by higher assets under administration due to a strong equity market and net new assets [11] - The Capital Markets segment reported net revenues of $483 million and pre-tax income of $95 million, with a year-over-year revenue growth of 42% driven by higher M&A revenues [11][12] - The Asset Management segment achieved record pre-tax income of $116 million on record net revenues of $275 million, attributed to higher financial assets under management [12] Market Data and Key Metrics Changes - Total assets under administration increased 6% sequentially to $1.57 trillion, with Private Client Group assets in fee-based accounts growing to $875 billion [7][8] - Domestic net new assets during the quarter were $13 billion, representing a 4% annualized growth rate, while for the fiscal year, domestic net new assets were $60.7 billion, a 5.5% growth rate [8][9] - The bank segment generated net revenues of $433 million and pre-tax income of $98 million, with net interest income increasing 1% due to higher loan balances [12][19] Company Strategy and Development Direction - The company remains focused on investing in its business, people, and technology to drive growth across all segments, with a healthy pipeline for growth and ample funding to support balance sheet growth [6][21] - The firm aims to be a destination of choice for financial advisors, which is expected to drive industry-leading growth over the long term [21][24] - The company is optimistic about its M&A pipeline and expects consistent investments in its platform and people to continue driving growth [22][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's record results and strong positioning entering fiscal 2025, with expectations for continued growth in client assets and fee-based accounts [21][25] - The management noted that while the fixed income market remains challenging, there are signs of improvement, particularly in the depository sector [22][24] - The company is prepared to lend across various loan segments as activity increases, maintaining a conservative risk approach [24][39] Other Important Information - The company repurchased 2.6 million shares of common stock for $300 million in the fourth quarter, totaling 7.7 million shares for $900 million for the fiscal year [7][18] - The effective tax rate for the quarter was 20.8%, reflecting favorable impacts from non-taxable valuation gains [17] Q&A Session Summary Question: Insights on the Capital Markets segment and advisory results - Management noted an improving M&A environment driven by rate expectations and capital on the sidelines, with a significant pickup in advisory activity [27] - The margin for the capital markets segment was reported at 20.6%, with expectations for revenue growth to outpace expenses over time [28] Question: Outlook for corporate loan demand - Lower rates are expected to stimulate corporate loan demand, particularly as M&A activity picks up [30] Question: Non-compensation expenses and areas of investment - Non-compensation expenses are primarily growth-related, with significant investments in technology to remain competitive [34] Question: Advisor retention and recruitment - The company has seen an increase in both advisor retention and the size of books being recruited, indicating a shift towards larger teams [35] Question: Lending capacity and balance sheet growth - The company has ample capital and liquidity, with a focus on maintaining a conservative risk appetite while waiting for favorable lending opportunities [39] Question: Advisory engagement and market conditions - Management observed a general reengagement in the advisory market, with new mandates and increased interest from buyers and sellers [44] Question: Cash trends and asset allocation - The company has seen consistent asset mix management by advisors, with a shift in cash categories based on market conditions [63]

For the quarter ended September 2024, Raymond James Financial, Inc. (RJF) reported revenue of $3.46 billion, up 13.4% over the same period last year. EPS came in at $2.95, compared to $2.13 in the year-ago quarter.The reported revenue represents a surprise of +4.79% over the Zacks Consensus Estimate of $3.3 billion. With the consensus EPS estimate being $2.44, the EPS surprise was +20.90%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectation ...

Fourth Quarter & Fiscal 2024 Results October 23, 2024 Forward-looking statements Certain statements made in this presentation and the associated conference call may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market con ...

Raymond James Financial, Inc. (RJF) came out with quarterly earnings of $2.95 per share, beating the Zacks Consensus Estimate of $2.44 per share. This compares to earnings of $2.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.90%. A quarter ago, it was expected that this company would post earnings of $2.31 per share when it actually produced earnings of $2.39, delivering a surprise of 3.46%.Over the last four quarters, ...

RAYMOND JAMES October 23, 2024 FOR IMMEDIATE RELEASE Media Contact: Steve Hollister, 727.567.2824 Investor Contact: Kristina Waugh, 727.567.7654 raymondjames.com/news-and-media/press-releases RAYMOND JAMES FINANCIAL REPORTS FISCAL FOURTH QUARTER AND FISCAL 2024 RESULTS (1) • Record annual net revenues of $12.82 billion and record net income available to common shareholders of $2.06 billion for fiscal 2024, up 10% and 19%, respectively, over fiscal 2023 • Return on common equity of 18.9% and adjusted return ...

ST. PETERSBURG, Fla., Oct. 23, 2024 (GLOBE NEWSWIRE) -- ST. PETERSBURG, Fla., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Record annual net revenues of $12.82 billion and record net income available to common shareholders of $2.06 billion for fiscal 2024, up 10% and 19%, respectively, over fiscal 2023Return on common equity of 18.9% and adjusted return on tangible common equity of 23.3%(1) for fiscal 2024Record quarterly net revenues of $3.46 billion, up 13% over the prior year’s fiscal fourth quarter and 7% over the ...

In its upcoming report, Raymond James Financial, Inc. (RJF) is predicted by Wall Street analysts to post quarterly earnings of $2.44 per share, reflecting an increase of 14.6% compared to the same period last year. Revenues are forecasted to be $3.31 billion, representing a year-over-year increase of 8.5%. Over the last 30 days, there has been a downward revision of 0.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsiderat ...