Raymond James Financial, Inc. (RJF) came out with quarterly earnings of $2.39 per share, beating the Zacks Consensus Estimate of $2.31 per share. This compares to earnings of $1.85 per share a year ago. These figures are adjusted for non-recurring items. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Over the last four quarters, the company has surpassed con ...

Client Assets and Administration - Record client assets under administration of $1.48 trillion and Private Client Group assets in fee-based accounts of $820.6 billion, up 15% and 18% respectively over June 2023[4] - Domestic Private Client Group net new assets of $16.5 billion for the fiscal third quarter, annualized growth from beginning of period assets of 5.2%[4] - Total clients' domestic cash sweep and Enhanced Savings Program balances of $56.4 billion, down 3% compared to both June 2023 and March 2024[4] - Record financial assets under management of $229.3 billion, up 14% over June 2023 and 1% over March 2024[16] - Client assets under administration increased to $1,476.2 billion as of June 30, 2024, up 15% from $1,280.9 billion in June 2023 and 2% from $1,449.1 billion in March 2024[27] - Private Client Group assets under administration reached $1,415.7 billion as of June 30, 2024, a 15% increase from $1,227.0 billion in June 2023 and 2% growth from $1,388.8 billion in March 2024[27] - Private Client Group assets in fee-based accounts grew to $820.6 billion as of June 30, 2024, up 18% from $697.0 billion in June 2023 and 3% from $798.8 billion in March 2024[27] - Financial assets under management increased to $229.3 billion as of June 30, 2024, a 14% rise from $200.7 billion in June 2023 and 1% growth from $226.8 billion in March 2024[27] - Domestic Private Client Group net new assets for the nine months ended June 30, 2024, totaled $47,740 million, compared to $59,085 million in the same period of 2023[27] - Total advisors increased to 8,782 as of June 30, 2024, up 1% from 8,704 in June 2023 and flat compared to 8,761 in March 2024[27] - Clients' domestic cash sweep and Enhanced Savings Program balances totaled $56,448 million as of June 30, 2024, down 3% from $57,978 million in June 2023 and $58,217 million in March 2024[27] - Total client assets reached $1.48 trillion, with approximately 8,800 financial advisors[44] Financial Performance - Record quarterly net revenues of $3.23 billion, up 11% over the prior year's fiscal third quarter and 4% over the preceding quarter[4] - Quarterly net income available to common shareholders of $491 million, or $2.31 per diluted share; adjusted net income available to common shareholders of $508 million, or $2.39 per diluted share[4] - Record net revenues of $9.36 billion and net income available to common shareholders of $1.46 billion for the first nine months of fiscal 2024, up 9% and 12% respectively over the first nine months of fiscal 2023[4] - Annualized return on common equity of 18.2% and annualized adjusted return on tangible common equity of 22.5% for the first nine months of fiscal 2024[4] - Repurchased approximately 2 million shares of common stock for $243 million during the fiscal third quarter[4] - Net revenues for the three months ended June 30, 2024, increased by 11% to $3,228 million compared to $2,907 million in the same period last year[21] - Pre-tax income for the three months ended June 30, 2024, rose by 33% to $644 million from $486 million in the prior year period[21] - Net income available to common shareholders for the three months ended June 30, 2024, increased by 33% to $491 million compared to $369 million in the same period last year[21] - Adjusted earnings per common share – diluted for the three months ended June 30, 2024, grew by 29% to $2.39 from $1.85 in the prior year period[21] - Total revenues for the nine months ended June 30, 2024, increased by 15% to $10,920 million compared to $9,477 million in the same period last year[25] - Asset management and related administrative fees for the nine months ended June 30, 2024, rose by 16% to $4,534 million from $3,917 million in the prior year period[25] - Investment banking revenues for the nine months ended June 30, 2024, increased by 22% to $543 million compared to $446 million in the same period last year[25] - Interest income for the nine months ended June 30, 2024, grew by 16% to $3,159 million from $2,729 million in the prior year period[25] - Compensation, commissions, and benefits for the nine months ended June 30, 2024, increased by 12% to $6,054 million compared to $5,407 million in the same period last year[25] - Earnings per common share – diluted for the nine months ended June 30, 2024, rose by 15% to $6.85 from $5.95 in the prior year period[25] - Total net revenues increased by 9% to $9,359 million in Q3 2024 compared to $8,566 million in Q3 2023[31] - Private Client Group net revenues grew by 9% to $6,983 million in Q3 2024 from $6,389 million in Q3 2023[31] - Capital Markets net revenues rose by 13% to $989 million in Q3 2024 from $873 million in Q3 2023[31] - Asset Management net revenues increased by 16% to $752 million in Q3 2024 from $649 million in Q3 2023[31] - Bank segment net revenues decreased by 18% to $1,283 million in Q3 2024 from $1,562 million in Q3 2023[31] - Pre-tax income grew by 11% to $1,883 million in Q3 2024 from $1,695 million in Q3 2023[31] - Quarterly net revenues of $3.23 billion, with net income available to common shareholders of $491 million, or $2.31 per diluted share, for the fiscal third quarter ended June 30, 2024[37] - Private Client Group quarterly net revenues of $330 million, up 20% year-over-year and 3% sequentially[39] - Quarterly investment banking revenues of $173 million, up 23% year-over-year and 1% sequentially[39] - Record quarterly net revenues grew 17% year-over-year and 5% sequentially, driven by higher financial assets under management[40] - Quarterly pre-tax income grew 74% year-over-year, driven by lower expenses and a bank loan benefit for credit losses[42] - Asset management and related administrative fees increased to $1.364 billion, up 17% year-over-year and 6% sequentially[32] - Total brokerage revenues reached $409 million, up 17% year-over-year[32] - Total account and service fees were $531 million, down 3% year-over-year and sequentially[32] - Pre-tax income for the quarter was $441 million, up 7% year-over-year but down 1% sequentially[32] - Return on common equity increased to 17.8% in June 2024, up from 14.9% in June 2023[48] - Adjusted pre-tax margin improved to 20.7% in June 2024, compared to 18.1% in June 2023[48] - Total revenues grew by 14% to $3.762 billion in June 2024, up from $3.293 billion in June 2023[49] - Net income available to common shareholders rose by 33% to $491 million in June 2024, compared to $369 million in June 2023[49] - Earnings per common share (diluted) increased by 35% to $2.31 in June 2024, up from $1.71 in June 2023[49] - Total assets reached $80.628 billion in June 2024, a 4% increase from $77.633 billion in June 2023[52] - Book value per share grew by 14% to $54.08 in June 2024, compared to $47.34 in June 2023[52] - Tier 1 capital ratio improved to 22.2% in June 2024, up from 20.6% in June 2023[52] - Investment banking revenues increased by 23% to $514 million in June 2024, compared to $419 million in June 2023[61] - Pre-tax loss decreased by 67% to $28 million in June 2024, down from $84 million in June 2023[61] - Total asset management and related administrative fees increased by 17% YoY to $254 million in June 2024 compared to $217 million in June 2023[62] - Net interest income decreased by 18% YoY to $1,245 million in June 2024 compared to $1,518 million in June 2023[64] - Total non-interest expenses decreased by 21% YoY to $1,001 million in June 2024 compared to $1,269 million in June 2023[64] - Net income available to common shareholders increased by 33% YoY to $491 million in June 2024 compared to $369 million in June 2023[70] - Adjusted net income available to common shareholders increased by 27% YoY to $508 million in June 2024 compared to $399 million in June 2023[70] - Adjusted pre-tax income increased by 27% YoY to $667 million in June 2024 compared to $526 million in June 2023[70] - Adjusted pre-tax margin for the fiscal third quarter of 2024 was 20.7%, compared to 18.1% in the same period last year[71] - Total compensation ratio adjusted for non-GAAP measures was 64.4% for the fiscal third quarter of 2024, down from 62.7% in the prior year period[71] - Adjusted basic earnings per share for the fiscal third quarter of 2024 was $2.45, up from $1.89 in the same quarter last year[72] - Adjusted diluted earnings per share for the fiscal third quarter of 2024 was $2.39, compared to $1.85 in the prior year period[72] - Total common equity attributable to Raymond James Financial was $11,118 million as of June 30, 2024, up from $9,870 million a year earlier[73] - Tangible common equity attributable to Raymond James Financial was $9,370 million as of June 30, 2024, compared to $8,071 million a year ago[73] - Book value per share increased to $54.08 as of June 30, 2024, from $47.34 a year earlier[73] - Tangible book value per share rose to $45.57 as of June 30, 2024, up from $38.71 in the prior year period[73] - Total expenses related to acquisitions were $0.11 per share for the fiscal third quarter of 2024, down from $0.19 per share in the same quarter last year[72] - Total non-GAAP adjustments, net of tax, were $0.08 per share for the fiscal third quarter of 2024, compared to $0.14 per share in the prior year period[72] - Average tangible common equity for the three months ended June 30, 2024 was $9,258 million, compared to $8,071 million for the same period in 2023[75] - Adjusted average tangible common equity for the three months ended June 30, 2024 was $9,266 million, compared to $8,086 million for the same period in 2023[75] - Return on common equity for the three months ended June 30, 2024 was 17.8%, compared to 14.9% for the same period in 2023[75] - Adjusted return on common equity for the three months ended June 30, 2024 was 18.4%, compared to 16.1% for the same period in 2023[75] - Return on tangible common equity for the three months ended June 30, 2024 was 21.2%, compared to 18.3% for the same period in 2023[75] - Adjusted return on tangible common equity for the three months ended June 30, 2024 was 21.9%, compared to 19.7% for the same period in 2023[75] - Total expenses related to acquisitions for the three months ended June 30, 2024 were $11 million, compared to $20 million for the same period in 2023[75] - Total non-GAAP adjustments, net of tax for the three months ended June 30, 2024 were $8 million, compared to $15 million for the same period in 2023[75] - Average common equity for the three months ended June 30, 2024 was $11,012 million, compared to $9,873 million for the same period in 2023[75] - Average goodwill and identifiable intangible assets, net for the three months ended June 30, 2024 was $1,889 million, compared to $1,930 million for the same period in 2023[75] - Total net revenues increased by 11% to $3,228 million in June 2024 from $2,907 million in June 2023[78] - Pre-tax income for the Bank segment surged by 74% to $115 million in June 2024 from $66 million in June 2023[78] - Total asset management and related administrative fees increased by 16% to $720 million in June 2024 from $620 million in June 2023[84] - Pre-tax income for Asset Management grew by 22% to $305 million in June 2024 from $251 million in June 2023[84] - Net interest income decreased by 18% to $406 million compared to June 30, 2023, and by 2% compared to March 31, 2024[85] - Net revenues declined by 19% to $418 million compared to June 30, 2023, and by 1% compared to March 31, 2024[85] - Total non-interest expenses decreased by 32% to $303 million compared to June 30, 2023, and by 13% compared to March 31, 2024[85] - Pre-tax income increased by 74% to $115 million compared to June 30, 2023, and by 53% compared to March 31, 2024[85] - Net interest margin (net yield on interest-earning assets) was 2.64% for the three months ended June 30, 2024, down from 3.26% in the same period last year[90] - Bank loan provision/(benefit) for credit losses was $(10) million for the three months ended June 30, 2024, compared to $54 million in the same period last year[90] - Net charge-offs decreased by 60% to $6 million compared to June 30, 2023, and by 79% compared to March 31, 2024[90] - Average common equity increased to $11,012 million for the three months ended June 30, 2024, up from $9,873 million in the same period last year[96] - Total expenses related to acquisitions were $11 million for the three months ended June 30, 2024, down from $20 million in the same period last year[96] - Adjusted average common equity was $11,020 million for the three months ended June 30, 2024, up from $9,888 million in the same period last year[96] Bank Segment Performance - Bank segment net interest margin of 2.64% for the quarter, down 62 basis points compared to the prior year's fiscal third quarter and 2 basis points compared to the preceding quarter[17] - Net interest income and RJBDP fees from third-party banks were $672 million for the three months ended June 30, 2024, a 5% decrease from $708 million in June 2023 and 2% decline from $689 million in March 2024[27] - Average yield on RJBDP - third-party banks was 3.41% for the three months ended June 30, 2024, compared to 3.37% in June 2023 and 3.59% in March 2024[27] - Bank segment net revenues decreased by 18% to $1,283 million in Q3 2024 from $1,562 million in Q3 2023[31] - Total interest-earning assets increased to $73,498 million in Q3 2024 from $72,413 million in Q3 2023, with an annualized average rate of 5.73%[28] - Securities-based loans (SBL) interest income rose to $269 million in Q3 2024 from $251 million in Q3 2023, with an annualized average rate of 7.10%[28] - Commercial and industrial (C&I) loans interest income increased to $194 million in Q3 2024 from $202 million in Q3 2023, with an annualized average rate of 7.70%[28] - Firmwide net interest margin improved to 2.86% in Q3 2024 from 2.91% in Q2 2024[28] - Total assets in the Bank segment increased by 2% YoY to $60,574 million in June 2024 compared to $59,506 million in June 2023[67] - Bank loans, net increased by 4% YoY to $45,149 million in June 2024 compared to $43,345 million in June 2023[67] - Total nonperforming assets increased by 26% YoY to $160 million in June 2024 compared to $127 million in June 2023[67] - Total criticized loans increased by 27% YoY to $523 million in June 2024 compared to $

Record client assets under administration of $1.48 trillion and record Private Client Group assets in fee-based accounts of $820.6 billion, up 15% and 18%, respectively, over June 2023 Domestic Private Client Group net new assets(1) of $16.5 billion for the fiscal third quarter, annualized growth from beginning of period assets of 5.2% Record quarterly net revenues of $3.23 billion, up 11% over the prior year's fiscal third quarter and 4% over the preceding quarter Quarterly net income available to common s ...

ST. PETERSBURG, Fla., July 24, 2024 (GLOBE NEWSWIRE) -- Raymond James Financial, Inc. (NYSE: RJF) today reported net revenues of $3.23 billion and net income available to common shareholders of $491 million, or $2.31 per diluted share, for the fiscal third quarter ended June 30, 2024. Excluding $23 million of expenses related to acquisitions, quarterly adjusted net income available to common shareholders was $508 million(2), or $2.39 per diluted share(2). For the first nine months of the fiscal year, record ...

Raymond James (RJF) is scheduled to announce third-quarter fiscal 2024 (ended Jun 30) results on Jul 24, after market close. Earnings and revenues are expected to have witnessed a rise on a year-over-year basis. In the last quarter, RJF's earnings lagged the Zacks Consensus Estimate. An increase in non-interest expenses and bank loan provisions hurt the results. Yet, robust investment banking (IB) and brokerage performance aided the Capital Markets segment's results. The performance of the Private Client Gr ...

Elevator Pitch acquisitions. Key Risks Closing Thoughts Key Investor Event Takeaways Relating To Capital Allocation Q3 FY 2024 Financial Results Preview Investors will likely view value-destructive M&A deals or a failure to increase the company's dividend payout ratio in a negative light. Also, I previously noted in my April 25, 2024 article that "the stock's valuations are attractive, as per the comparison of its low-teens earnings multiple with its high-teens ROE." This argument is still valid, considerin ...

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimate revision trends, and our Style Scores highlight stocks with specific traits. Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels. RJF currently has a forward P/E ratio of 12.82, while TW ...

It has been about a month since the last earnings report for Raymond James Financial, Inc. (RJF) . Shares have added about 1.2% in that time frame, underperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Raymond James Financial due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts. Raymond James ...

Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 8,800 financial advisors. Total client assets are $1.45 trillion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com. Forward-Looking Statements ...

ST. PETERSBURG, Fla., May 20, 2024 (GLOBE NEWSWIRE) -- On May 20, 2024, the Raymond James Financial, Inc. (NYSE: RJF) Board of Directors declared a quarterly cash dividend on shares of its common stock of $0.45 per share, payable July 15, 2024 to shareholders of record on July 1, 2024. The Board declared a quarterly dividend of $0.3984375 per depositary share of 6.375% Fixed-to-Floating Rate Series B Non-Cumulative Perpetual Preferred Stock (NYSE: RJF PrB) payable July 1, 2024, to shareholders of record on ...