Raymond James Stock Price, News & Analysis

Raymond James Financial (NYSE: RJF) reported net revenues of $2.79 billion for the fiscal first quarter ended December 31, 2022, flat year-over-year, with a net income of $507 million ($2.30 per diluted share). The firm achieved record quarterly net income, marking a 14% increase compared to the prior year, primarily due to higher net interest income. The Domestic Private Client Group attracted $23.2 billion in net new assets, representing a 9.8% annualized growth rate. However, investment banking revenues dropped by 68% compared to the previous year. The company retains a strong capital position with a total capital ratio of 21.5%.

On December 1, 2022, Raymond James Financial (NYSE: RJF) declared a quarterly cash dividend of $0.42 per share, a 24% increase from the previous dividend of $0.34 per share. Shareholders of record on January 3, 2023, will receive the dividend on January 17, 2023. Additionally, the company authorized a $1.5 billion share repurchase program, replacing the prior $1 billion authorization, with approximately $800 million remaining. This repurchase may occur under various market conditions and has no fixed expiration date.

Raymond James Financial (NYSE: RJF) reported record fiscal fourth quarter net revenues of $2.83 billion, a 5% increase year-over-year, alongside quarterly net income of $437 million, or $1.98 per diluted share. Full fiscal year net revenues reached $11.0 billion, up 13%, while annual net income was $1.51 billion, or $6.98 per diluted share. The Private Client Group saw 9% net asset growth, with assets under administration totaling $1.09 trillion. Strong results were driven by higher interest rates despite declines in asset management fees and total brokerage revenues.

Raymond James has introduced its Private Wealth Advisor Program, designed to enhance training for financial advisors serving high-net-worth clients. The program offers an in-depth training experience, blending virtual and onsite sessions, focusing on the unique wealth management needs of affluent clients. The inaugural class will complete a rigorous six-month program this Fall, with plans for additional cohorts. This initiative is part of broader enhancements in Private Wealth Services, aimed at expanding offerings and growing a dedicated team of experts to better serve wealthy clients.

Veranex has acquired Medidee, a leading MedTech consultancy based in Switzerland. This acquisition enhances Veranex's capacity in regulatory affairs, clinical development, and quality assurance for MedTech firms globally. Medidee's established presence in Europe and expertise in navigating EU-MDR/IVDR regulations will significantly strengthen Veranex's service offerings. With a combined total of 24 locations worldwide, the partnership aims to facilitate streamlined product development and commercialization, driving growth in digital health and other key areas.

The Raymond James Financial Board of Directors declared a $0.34 quarterly cash dividend on common stock, payable on October 17, 2022, to shareholders on record as of October 3, 2022. Additionally, dividends of $0.421875 per depositary share for Series A Preferred Stock and $0.3984375 for Series B Preferred Stock were announced, both payable on October 3, 2022, to shareholders on record from September 15, 2022. Raymond James is a leading financial services company with total client assets of $1.19 trillion.

Raymond James Financial (NYSE: RJF) reported its selected operating data for July 2022, highlighting a 1% increase in client assets under administration to $1,189.3 billion compared to July 2021. Private Client Group assets also rose 1% to $1,131.8 billion. However, financial assets under management saw a 1% decrease to $192.4 billion. The decline in clients’ domestic cash sweep balances, down 4% from June, reflects quarterly fee payments. Despite subdued revenues in fixed income brokerage, the M&A pipeline remains robust.

Raymond James Financial (NYSE: RJF) reported fiscal third-quarter net revenues of $2.72 billion, a 10% increase year-over-year and 2% sequentially. Net income available to common shareholders was $299 million or $1.38 per diluted share, with adjusted net income at $348 million or $1.61 per diluted share. Private Client Group saw 9.4% asset growth over the past year, while assets under administration reached $1.13 trillion. Strong performance in net interest income and bank loans was countered by 3% declines in net income and brokerage revenues amidst challenging market conditions.

Raymond James Financial, Inc. (NYSE: RJF) announced a quarterly dividend of $0.421875 per depositary share of 6.75% Fixed-to-Floating Rate Series A Preferred Stock and $0.3984375 per depositary share of 6.375% Fixed-to-Floating Rate Series B Preferred Stock on June 1, 2022. The dividends are payable on July 1, 2022, to shareholders on record by June 15, 2022. This action reflects the company's ongoing commitment to shareholder value amidst its strong financial performance, with total client assets amounting to $1.18 trillion.