Raymond James Financial Reports Fiscal First Quarter of 2026 Results
Rhea-AI Summary
Raymond James Financial (NYSE: RJF) reported fiscal Q1 2026 net revenues of $3.74B and net income available to common shareholders of $562M ($2.79 diluted EPS). The firm reached record client assets under administration of $1.77T and record Private Client Group fee-based assets of $1.04T.
Highlights include Domestic PCG net new assets of $30.8B (8.0% annualized), securities-based loans of $21.7B (+28% YoY), an 8% dividend increase to $0.54, and $400M of share repurchases during the quarter.
Positive
- Client assets reached $1.77 trillion, a record (+14% YoY)
- PCG fee-based assets $1.04 trillion, a record (+19% YoY)
- Net revenues of $3.74 billion (record quarterly revenues)
- Securities-based loans grew to $21.7 billion (+28% YoY)
- Domestic PCG net new assets $30.8 billion (8.0% annualized)
- Returned capital: $400M repurchases and 8% dividend increase
Negative
- Capital Markets net revenues down 21% year-over-year
- Investment banking revenues down 37% year-over-year
News Market Reaction – RJF
In the Jan 29 session, RJF declined 0.42%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jan 21 | Earnings schedule | Neutral | +0.9% | Announced fiscal 2026 quarterly earnings release and call timetable. |
| Jan 15 | Acquisition announcement | Positive | -0.4% | Agreed to acquire Clark Capital, adding $46B in asset management scale. |
| Dec 30 | Survey insights | Neutral | -0.9% | Released survey on business owners’ transition plans and capital needs. |
| Dec 03 | Dividends & buybacks | Positive | +2.4% | Increased common dividend 8% and boosted stock repurchase authorization. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news often saw modest price reactions, with generally positive capital return and M&A announcements aligning with upward moves while the Clark Capital acquisition headline saw a small negative divergence.
Over the last few months, RJF has highlighted several milestones. On Dec 3, 2025, it raised the common dividend to $0.54 and expanded buyback authorization to $2.0 billion, with a 2.4% positive reaction. Subsequent items included a new Bank Midwest program overseeing $692 million in assets and survey data on business owners’ wealth concentration. On Jan 15, 2026, RJF agreed to acquire Clark Capital with $46 billion in assets, followed by the Jan 21, 2026 earnings schedule notice. Today’s detailed Q1 earnings continue this pattern of growth and capital returns.
Key Terms
securities-based loans financial
net interest margin financial
basis points financial
tier 1 leverage ratio financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Record client assets under administration of
$1.77 trillion and record Private Client Group assets in fee-based accounts of$1.04 trillion , up14% and19% , respectively, over December 2024 - Record quarterly net revenues of
$3.74 billion , up6% over the prior year’s fiscal first quarter and just above the preceding quarter - Quarterly net income available to common shareholders of
$562 million , or$2.79 per diluted share; quarterly adjusted net income available to common shareholders of$577 million (1), or$2.86 per diluted share(1) - Domestic Private Client Group net new assets(2) of
$30.8 billion for the fiscal first quarter, or annualized growth from beginning of quarter assets of8.0% - Securities-based loans of
$21.7 billion , up28% over the prior year’s fiscal first quarter and10% above the preceding quarter - Annualized return on common equity and annualized adjusted return on tangible common equity were
18.0% and21.4% (1), respectively, for the fiscal first quarter.
Raymond James Financial, Inc. (NYSE: RJF) today reported net revenues of
“Our focus on being the absolute best firm for financial professionals and their clients has contributed to record quarterly revenues of
Record quarterly net revenues increased
Segment Results
Private Client Group
- Record quarterly net revenues of
$2.77 billion , up9% over the prior year’s fiscal first quarter and4% over the preceding quarter - Quarterly pre-tax income of
$439 million , down5% compared to the prior year’s fiscal first quarter and up6% over the preceding quarter - Record Private Client Group assets under administration of
$1.71 trillion , up15% over December 2024 and3% over September 2025 - Record Private Client Group assets in fee-based accounts of
$1.04 trillion , up19% over December 2024 and3% over September 2025 - Domestic Private Client Group net new assets(2) of
$30.8 billion for the fiscal first quarter, or annualized growth from beginning of the quarter assets of8.0% - Total clients’ domestic cash sweep and Enhanced Savings Program balances of
$58.1 billion , down3% compared to the prior year’s fiscal first quarter and up3% over the preceding quarter
Quarterly net revenues rose
Capital Markets
- Quarterly net revenues of
$380 million , down21% compared to the prior year’s fiscal first quarter and26% compared to the preceding quarter
- Quarterly investment banking revenues of
$200 million , down37% compared to the prior year’s fiscal first quarter and35% compared to the preceding quarter - Quarterly pre-tax income of
$9 million
Quarterly net revenues decreased
Asset Management
- Record quarterly net revenues of
$326 million , up11% over the prior year’s fiscal first quarter and4% over the preceding quarter
- Record quarterly pre-tax income of
$143 million , up14% over the prior year’s fiscal first quarter and8% over the preceding quarter - Record financial assets under management of
$280.8 billion , up15% over December 2024 and2% over September 2025
The increase in quarterly net revenues and pre-tax income over both the prior-year and sequential quarters is largely attributable to higher financial assets under management due to market appreciation and net inflows into fee-based accounts in the Private Client Group.
Earlier in January, the firm announced the acquisition of Clark Capital Management Group, Inc. (“Clark Capital”), an asset management firm specializing in wealth-focused solutions, with over
Bank
- Quarterly net revenues of
$487 million , up15% over the prior year’s fiscal first quarter and6% over the preceding quarter
- Quarterly pre-tax income of
$173 million , up47% over the prior year’s fiscal first quarter and30% over the preceding quarter - Record net bank loans of
$53.4 billion , up13% over December 2024 and4% over September 2025 - Bank segment net interest margin (“NIM”) of
2.81% for the quarter, up 21 basis points over the prior year’s fiscal first quarter and 10 basis points over the preceding quarter
Net bank loans grew
Other
The effective tax rate for the quarter was
In December, the Board of Directors increased the quarterly cash dividend on common shares
A conference call to discuss the results will take place today, Wednesday, January 28, at 5:00 p.m. ET. The live audio webcast, and the presentation which management will review on the call, will be available at www.raymondjames.com/investor-relations/financial-information/quarterly-earnings. An audio replay of the call will be available at the same location for 30 days. For a listen-only connection to the conference call, please dial: 888-596-4144 (conference code: 3778589).
Click here to view full earnings results, earnings supplement, and earnings presentation.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. Total client assets are
Forward-Looking Statements
Certain statements made in this press release may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions (including changes in interest rates, inflation, and international trade policies), demand for and pricing of our products (including cash sweep and deposit offerings), anticipated timing and benefits of our acquisitions, and our level of success integrating acquired businesses, anticipated results of litigation, regulatory developments, and general economic conditions. In addition, future or conditional verbs such as “will,” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in our filings with the Securities and Exchange Commission (the “SEC”) from time to time, including our most recent Annual Report on Form 10-K and Current Reports on Form 8-K, which are available at www.raymondjames.com and the SEC’s website at www.sec.gov. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether as a result of new information, future events, or otherwise.
Media Contact: Steve Hollister Raymond James Financial 727.567.2824 mediarelations@raymondjames.com Investor Contact: Kristina Waugh Raymond James Financial 727.567.7654 investorrelations@raymondjames.com