Raymond James Financial Reports Fiscal Third Quarter of 2026 Results
Rhea-AI Summary
Raymond James Financial (NYSE: RJF) reported record fiscal Q3 2026 net revenues of $3.93 billion, up 16% year-over-year and 2% sequentially, and net income available to common shareholders of $595 million, or a record $3.01 per diluted share, up 42% and 11%, respectively. Adjusted EPS was $3.14, excluding $25 million of acquisition-related expenses.
For the first nine months, net revenues reached $11.5 billion (+11% YoY) and EPS was $8.52 (+16% YoY). Q3 annualized return on common equity was 18.8% and adjusted annualized return on tangible common equity was 23.5%. Client assets under administration hit a record $1.92 trillion, with Private Client Group (PCG) fee-based assets at $1.15 trillion and domestic PCG net new assets of $21.7 billion (5.5% annualized growth).
Segment highlights included record PCG quarterly net revenues of $2.84 billion (+14% YoY), Capital Markets net revenues of $477 million (+25% YoY), record Asset Management net revenues of $362 million (+24% YoY) supported by $345 billion of assets (including $36 billion from Clark Capital), and Bank net revenues of $488 million with record pre-tax income of $206 million (+67% YoY) and record net loans of $56.2 billion.
The effective tax rate was 20.7%, aided by nontaxable gains on corporate-owned life insurance. Raymond James repurchased $400 million of common stock at an average price of $152, leaving $1.1 billion under its authorization. Regulatory capital remained strong, with a total capital ratio of 22.5% and a tier 1 leverage ratio of 11.7% as of June 30, 2026.
Positive
- Net revenues $3.93B, up 16% YoY and 2% QoQ in Q3 2026
- EPS $3.01 and adjusted EPS $3.14, up 42% and 17% YoY for nine months
- Annualized ROE 18.8% and adjusted ROTCE 23.5% in fiscal Q3
- Client assets $1.92T and PCG fee-based assets $1.15T at record levels
- Capital Markets net revenues $477M, up 25% YoY; investment banking $285M, up 40% YoY
- Bank pre-tax income $206M, up 67% YoY; net loans $56.2B, up 13% YoY
- Share repurchases $400M in Q3 at $152 per share; $1.1B authorization remaining
Negative
- Bank segment net interest margin 2.71%, down 3 bps YoY and 10 bps QoQ
- PCG pre-tax income up 3% YoY, lagging 14% revenue growth due to lower rates and growth investments
News Explained
Clark Capital’s acquisition was completed during fiscal Q3 and contributed
News Market Reaction – RJF
In the Jul 23 session, RJF declined 1.11%, 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 |
|---|---|---|---|---|
| May 13 | Quarterly dividend | Positive | +1.1% | Quarterly cash dividend declared and scheduled for payment to shareholders |
| Apr 29 | Advisor recognition | Positive | -0.1% | Private wealth advisor ranked fourteenth among California financial advisors |
| Apr 22 | 2Q26 earnings report | Positive | -0.7% | Record quarterly revenue and earnings growth accompanied fiscal second-quarter results |
| Mar 18 | Leadership appointment | Neutral | +0.4% | Kirk Bell named president of the Independent Contractor Division |
| Feb 19 | Quarterly dividend | Positive | +0.1% | Quarterly cash dividend declared for common stock shareholders |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
RJF's prior fiscal second-quarter earnings report had a -0.72% 24-hour reaction despite strong reported growth, while dividend announcements had positive reactions.
Key Terms
net interest margin financial
return on tangible common equity financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
ST. PETERSBURG, Fla., July 22, 2026 (GLOBE NEWSWIRE) --
- Record quarterly net revenues of
$3.93 billion , up16% over the prior year’s fiscal third quarter and2% over the preceding quarter - Quarterly net income available to common shareholders of
$595 million , or record$3.01 per diluted share, up42% over the prior year’s fiscal third quarter and11% over the preceding quarter; quarterly adjusted net income available to common shareholders of$620 million (1), or record$3.14 per diluted share(1) - Domestic Private Client Group net new assets(2) of
$21.7 billion for the fiscal third quarter, or annualized growth from beginning of quarter assets of5.5% - Record client assets under administration of
$1.92 trillion , up17% over June 2025 and9% over March 2026 - Record quarter-end Private Client Group assets in fee-based accounts of
$1.15 trillion , up22% over June 2025 and11% over March 2026 - Record net bank loans of
$56.2 billion , up13% over June 2025 and3% over March 2026; Securities-based loans of$24.8 billion , up34% over June 2025 and8% over March 2026 - Annualized return on common equity and annualized adjusted return on tangible common equity of
18.8% and23.5% (1), respectively, for the fiscal third quarter
Raymond James Financial, Inc. (NYSE: RJF) today reported net revenues of
“Results through the first nine months of the fiscal year were strong, with records set for net revenues, pre-tax income, net income and earnings per share, reflecting the continued execution of our long-term strategies and the strength of a culture built on putting people first and earning trust over generations,” said CEO Paul Shoukry. “Our consistent performance reflects our long-term approach, the resiliency of our diversified business model and the commitment of our associates and advisors to serving clients with integrity. These results were anchored by continued strength in the Private Client Group, where fee-based assets reached a quarter-end record of
Record quarterly net revenues increased
For the first nine months of the fiscal year, record net revenues of
Segment Results
Private Client Group
- Record quarterly net revenues of
$2.84 billion , up14% over the prior year’s fiscal third quarter and1% over the preceding quarter - Quarterly pre-tax income of
$423 million , up3% over the prior year’s fiscal third quarter and2% over the preceding quarter - Domestic Private Client Group net new assets(2) of
$21.7 billion for the fiscal third quarter, or annualized growth from beginning of the quarter assets of5.5% - Record Private Client Group assets under administration of
$1.86 trillion , up18% over June 2025 and9% over March 2026 - Record quarter-end Private Client Group assets in fee-based accounts of
$1.15 trillion , up22% over June 2025 and11% over March 2026 - Total clients’ domestic cash sweep and Enhanced Savings Program balances of
$58.8 billion , up7% over June 2025 and2% over March 2026
Record quarterly net revenues rose
Capital Markets
- Quarterly net revenues of
$477 million , up25% over the prior year’s fiscal third quarter and3% over the preceding quarter - Quarterly investment banking revenues of
$285 million , up40% over the prior year’s fiscal third quarter and5% over the preceding quarter - Quarterly pre-tax income of
$48 million
Quarterly net revenues increased
Asset Management
- Record quarterly net revenues of
$362 million , up24% over the prior year’s fiscal third quarter and11% over the preceding quarter
- Quarterly pre-tax income of
$143 million , up14% over the prior year’s fiscal third quarter and4% over the preceding quarter - Record financial assets under management of
$345 billion , up31% over June 2025 and22% over March 2026, including$36 billion from the acquisition of Clark Capital(3) completed in the quarter
Record quarterly net revenues increased
Bank
- Quarterly net revenues of
$488 million , up7% over the prior year’s fiscal third quarter and up slightly over the preceding quarter
- Record quarterly pre-tax income of
$206 million , up67% over the prior year’s fiscal third quarter and24% over the preceding quarter - Record net bank loans of
$56.2 billion , up13% over June 2025 and3% over March 2026 - Bank segment net interest income increased
7% over the prior year’s fiscal third quarter and approximated the preceding quarter - Quarterly bank loan benefit for credit losses of
$26 million
Record net bank loans grew
Other Matters
The effective tax rate for the quarter was
During the fiscal third quarter, the firm repurchased
A conference call to discuss the results will take place today, Wednesday, July 22, 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: 888-330-3573 (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 and inflation), demand for and pricing of our products (including cash sweep and deposit offerings), anticipated timing and benefits of our acquisitions, including Clark Capital Management Group, Inc. (“Clark Capital”), 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 subsequent Quarterly Reports on Form 10-Q 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