RJF Falls as Q3 Earnings Lag on Legal Reserve, IB & Trading Stay Solid

Key Takeaways RJF's fiscal Q3 EPS of $2.18 missed estimates, hurt by a $58M legal reserve and rising expenses.Revenues rose 9% to $3.40B on strength in investment banking, trading and asset management.Client assets hit $1.64T, up 11%, while share buybacks totaled $451M at an average price of $137.Shares of Raymond James (RJF) lost 2.2% yesterday in after-hours trading in response to lower-than-expected third-quarter fiscal 2025 results (ended June 30). Adjusted earnings of $2.18 per share lagged the Zacks C ...