Raymond James Stock Price, News & Analysis

Raymond James Financial, Inc. reported record fiscal Q1 net revenues of $2.78 billion, a 25% increase year-over-year. Net income reached $446 million or $2.10 per diluted share, marking a 43% growth. Key metrics showed client assets under administration at $1.26 trillion and financial assets under management at $203.2 billion. Investment banking revenue surged to a record $425 million, driven by M&A and equity underwriting. The company also announced a 31% dividend increase to $0.34 per share, with a strong outlook for Q2.

Raymond James Financial, Inc. (NYSE: RJF) reported key operating metrics for November 2021, showing strong growth in client assets. Client assets under administration reached $1,220.3 billion, a 23% increase from November 2020. Private Client Group assets also saw a 23% year-over-year growth to $1,162.7 billion. Financial assets under management rose 20% year-over-year to $196.4 billion. The report indicates strong retention and recruiting activity, fueled by a client-first culture and robust investment banking activity.

Raymond James Ltd. CEO Paul Allison will step down on December 31, 2021, transitioning to Executive Chairman, focusing on strategic guidance and client relationships. Jamie Coulter, currently Executive VP of Wealth Management, will succeed him as CEO. Allison, a leader in Raymond James’ growth in Canada, emphasized the firm’s commitment to client service and reputation. The company, which has approximately 8,500 financial advisors and $1.23 trillion in client assets, aims to maintain its growth momentum under Coulter's leadership.

Raymond James Financial (NYSE: RJF) announced that President John Carson will retire effective December 31, 2021, transitioning to the role of vice chairman. He will also step down as head of Fixed Income and Public Finance. Horace Carter, currently executive vice president of Fixed Income Capital Markets, will succeed Carson. Carson, who joined Morgan Keegan in 1994 and became CEO in 2008, has significantly contributed to the firm's growth. Raymond James, a diversified financial services company with approximately 8,500 advisors, manages total client assets of $1.23 trillion.

On December 2, 2021, Raymond James Financial (NYSE: RJF) announced a quarterly cash dividend of $0.34 per share, representing a 31% increase from the previous dividend of $0.26. This dividend will be payable on January 18, 2022, to shareholders of record on January 4, 2022. Additionally, the company authorized a share repurchase program of up to $1 billion, replacing a previous authorization of $750 million. This strategic move allows for flexibility in managing share repurchases without a fixed expiration date.

Raymond James has appointed Robbie Moseley as vice president and head of Advisor Choice Consulting, succeeding Barry Papa. Moseley brings extensive experience from Edward Jones and UBS. Under his leadership, the recruiting team aims to maintain steady growth by offering flexibility and support to financial advisors. Raymond James manages approximately $1.23 trillion in client assets and has around 8,500 financial advisors, emphasizing its client-first culture and robust technology.

Raymond James Financial, Inc. (NYSE: RJF) reported record operating data for October 2021, highlighting significant growth across multiple segments. Client assets under administration reached $1.23 trillion, a 33% increase from October 2020, while financial assets under management hit $199.3 billion, up 32%. The firm also noted an increase in net loans to $25.4 billion, an 18% rise year-over-year. Growth was attributed to market appreciation and a strong recruitment drive for financial advisors. Cash sweep balances stood at $66.8 billion, reflecting a 17% increase from the previous year.

Raymond James Financial (NYSE: RJF) reported record financial results for its fiscal fourth quarter ended September 30, 2021. Net revenues reached $2.70 billion, a 30% increase year-over-year, and net income was $429 million, or $2.02 per diluted share. Full fiscal 2021 results showed net revenues of $9.76 billion, marking a 22% growth, with net income surging by 72% to $1.40 billion. The company also highlighted record assets under administration of $1.18 trillion and increased financial advisors to 8,482, signaling strong growth in client engagement and investment banking revenues.

Raymond James Financial (RJF) announced its definitive agreement to acquire TriState Capital Holdings (TSC) in a transaction valued at approximately $1.1 billion. Shareholders of TriState Capital will receive $6.00 in cash and 0.25 shares of Raymond James for each share held, equating to a total of $31.09 per share. The acquisition is expected to enhance Raymond James' growth by leveraging TriState's 32% annual growth in securities-based lending. The deal is projected to be accretive to diluted earnings per share in the first year following completion.