Raymond James Stock Price, News & Analysis

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.

Raymond James Financial (NYSE: RJF) has finalized the acquisition of TriState Capital Holdings, Inc. Each TriState Capital share was exchanged for $6.00 in cash plus 0.25 shares of Raymond James, valuing the transaction at approximately $30.62 per share. TriState Capital will maintain its status as a separate chartered bank, continuing its private banking and lending services. The leadership teams emphasize shared values and the anticipated synergies stemming from this merger, which aims to enhance both firms’ service offerings and client experiences.

Raymond James Financial, Inc. (NYSE: RJF) reported selected operational metrics for April 2022, indicating continued strong advisor retention and recruitment. However, client assets decreased to $1,183.9 billion, down 6% from the previous month, influenced by equity market declines. The company noted healthy investment banking pipelines, but M&A and underwriting activities slowed due to geopolitical and macroeconomic uncertainties. Key metrics indicated a 23% increase in net bank loans and a 20% rise in cash sweep balances year-over-year.

On May 23, 2022, Raymond James Financial, Inc. (NYSE: RJF) announced a quarterly cash dividend of $0.34 per share. This dividend is scheduled for payment on July 15, 2022 to shareholders recorded on July 1, 2022. The company remains a prominent player in financial services with around 8,700 financial advisors and total client assets of $1.26 trillion. Raymond James has been publicly traded since 1983 and continues to provide diversified financial solutions.

Raymond James Financial (NYSE: RJF) reported fiscal second-quarter net revenues of $2.67 billion, a 13% increase year-over-year but a 4% decline sequentially. The net income was $323 million ($1.52 per diluted share) and $331 million adjusted. Notable achievements include 11% domestic net new asset growth and record Private Client Group assets in fee-based accounts of $678 billion. The bank reported record net loans of $27.9 billion, reflecting strong loan growth. However, investment banking revenue fell due to market uncertainties.

On April 13, 2022, Steward Partners Global Advisory announced that 15 of its advisors were recognized in the Forbes 2022 Best-In-State Wealth Advisors list. This accolade demonstrates the firm's significant growth and the quality of its advisory team. The ranking included over 6,000 advisors evaluated on various criteria. Doug Kentfield, President of Steward Partners, emphasized the firm's expanding partner network and the excellence of its advisors. The firm's achievements highlight its commitment to serving clients effectively and growing its assets under management.

Raymond James Financial (NYSE: RJF) has announced its acquisition of SumRidge Partners, a leading technology-driven fixed income market maker specializing in corporate bonds and municipal securities. This acquisition aims to enhance Raymond James' Fixed Income Capital Markets division by integrating advanced trading technologies and risk management tools. SumRidge, established in 2010 with around 45 employees, will operate independently under its co-founders, aiming to leverage combined strengths for competitive advantage in the marketplace.

Raymond James Financial, Inc. (NYSE: RJF) reported key operating metrics for February 2022, revealing client assets under administration reached $1.238 trillion, a 17% increase year-over-year. Private Client Group assets also grew 17% to $1.180 trillion. However, investment banking revenues saw a decline due to macroeconomic uncertainties. Despite a strong M&A pipeline, the outlook remains cautious as client assets in fee-based accounts showed a slight decline of 1% compared to January. Overall, total client assets stood at $1.24 trillion, reflecting substantial growth.