Raymond James Financial (NYSE:RJF) Announces Earnings Results

Raymond James Financial (NYSE:RJF) posted its earnings results on Wednesday. The financial services provider reported $3.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.23, FiscalAI reports. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.87 billion. Raymond James Financial had a return on equity of 19.17% and a net margin of 13.57%.Raymond James Financial’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.18 EPS.

Here are the key takeaways from Raymond James Financial’s conference call:

• Raymond James posted record third-quarter results, with net revenues of $3.93 billion, pre-tax income of $750 million, and diluted EPS of $3.01. Management highlighted strong year-to-date momentum, including record revenues and earnings over the first nine months of fiscal 2026.
• The Private Client Group remained a major growth driver, ending the quarter with a record $1.86 trillion in assets under administration and $21.7 billion of domestic net new assets. Advisor recruiting remained strong, with management saying the pipeline is broad-based and on pace to exceed FY2025 record results.
• Management said the enterprise rollout of its proprietary AI assistant Rai has received very strong early adoption, with 6,500 unique users and a 99.5% satisfaction rate. The firm is also pushing AI education through an internal academy and sees long-term productivity benefits.
• Capital Markets improved versus prior periods, mainly on stronger investment banking activity, but executives said transaction levels are still below normalized conditions. They pointed to an encouraging pipeline, though timing remains uncertain and sector-specific issues continue to delay deal flow.
• The bank segment delivered record loans of $56.2 billion, supported by continued securities-based lending growth, while credit quality remained strong. Raymond James also returned capital aggressively, repurchasing $400 million of stock in the quarter and maintaining a Tier 1 leverage ratio of 11.7%.

Raymond James Financial Trading Up 0.9%

NYSE RJF traded up $1.53 on Friday, hitting $167.68. The company’s stock had a trading volume of 204,093 shares, compared to its average volume of 1,421,634. The company’s 50-day moving average is $156.70 and its 200 day moving average is $156.53. The firm has a market cap of $32.68 billion, a PE ratio of 14.62, a PEG ratio of 1.07 and a beta of 0.93. Raymond James Financial has a 1-year low of $138.82 and a 1-year high of $177.66. The company has a quick ratio of 1.05, a current ratio of 1.07 and a debt-to-equity ratio of 0.44.

Raymond James Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Wednesday, July 1st. Raymond James Financial’s payout ratio is presently 20.42%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its position in Raymond James Financial by 18.3% during the 4th quarter. First Trust Advisors LP now owns 3,071,996 shares of the financial services provider’s stock valued at $493,332,000 after purchasing an additional 474,477 shares during the period. Invesco Ltd. boosted its stake in shares of Raymond James Financial by 12.2% in the 4th quarter. Invesco Ltd. now owns 2,338,521 shares of the financial services provider’s stock valued at $375,543,000 after purchasing an additional 254,773 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Raymond James Financial by 0.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,097,112 shares of the financial services provider’s stock worth $176,185,000 after buying an additional 8,575 shares during the period. AQR Capital Management LLC raised its stake in Raymond James Financial by 40.0% during the fourth quarter. AQR Capital Management LLC now owns 1,096,731 shares of the financial services provider’s stock worth $176,124,000 after buying an additional 313,587 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its position in Raymond James Financial by 1.6% during the second quarter. Raymond James Financial Inc. now owns 765,574 shares of the financial services provider’s stock valued at $117,416,000 after acquiring an additional 12,328 shares during the last quarter. 83.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RJF shares. BMO Capital Markets reissued a “market perform” rating and set a $175.00 price target (up from $160.00) on shares of Raymond James Financial in a report on Thursday. Citizens Jmp increased their price target on Raymond James Financial from $200.00 to $205.00 and gave the stock a “market outperform” rating in a research report on Thursday. TD Cowen dropped their price objective on Raymond James Financial from $162.00 to $161.00 and set a “hold” rating for the company in a report on Thursday. Barclays raised their price target on Raymond James Financial from $192.00 to $196.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group reiterated a “neutral” rating and issued a $175.00 price target (up from $166.00) on shares of Raymond James Financial in a research note on Wednesday, July 8th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Raymond James Financial currently has a consensus rating of “Hold” and a consensus price target of $178.82.

Key Raymond James Financial News

Here are the key news stories impacting Raymond James Financial this week:

• Positive Sentiment: RJF reported record quarterly net revenues of $3.93 billion and earnings of $3.14 per share on an adjusted basis, both ahead of estimates, which is a key driver of investor optimism. The company also posted record client assets under administration of $1.92 trillion and strong growth in private client assets, reinforcing the strength of its core wealth-management business.
• Positive Sentiment: Capital markets and asset management also performed well, with capital markets revenue up 25% and asset management revenue up 24% year over year, showing broad-based business momentum.
• Positive Sentiment: Several analysts turned more constructive after the earnings release, including Barclays and Citizens JMP, both of which raised their price targets and kept bullish ratings, suggesting Wall Street sees further upside potential.
• Neutral Sentiment: JPMorgan raised its price target to $179 while keeping a neutral rating, and TD Cowen trimmed its target slightly to $161 with a hold rating. These updates point to a more balanced view after the earnings beat rather than a clear shift in fundamentals.
• Neutral Sentiment: One report noted the stock underperformed some competitors on Thursday, which may reflect profit-taking or a pause after the earnings-driven move rather than a change in the company’s outlook.

About Raymond James Financial

Raymond James Financial is a diversified financial services firm headquartered in St. Petersburg, Florida. Founded in 1962, the company provides a range of services to individual investors, businesses and institutions through a combination of wealth management, capital markets, investment banking, asset management, banking and trust services. Its business model centers on a network of financial advisors and broker-dealer operations that deliver personalized financial planning, investment advisory services and brokerage solutions.

The firm’s core offerings include private client wealth management delivered by independent and employee advisors, equity and fixed-income research, institutional sales and trading, and investment banking services such as mergers and acquisitions advisory and capital raising.