RAYMOND JAMES FINANCIAL INC — Form 8-K
Filed July 22, 2026 · analyzed by the 8-K Agent
8-K
▲ Likely positive
significance 48/100
What the filing says
Raymond James reported fiscal Q3 2026 (ended June 30, 2026) record net revenues of $3.928 billion (+16% YoY, +2% sequentially) and net income of $595 million ($3.01 diluted EPS). Key driver: completed April 2026 acquisition of Clark Capital Management Group for $36B in AUM added to Asset Management segment; $25M acquisition-related expenses in quarter. Private Client Group net new assets reached $21.7B (5.5% annualized growth); client assets under administration hit record $1.92 trillion (+17% YoY). Bank segment pre-tax income surged 67% YoY to $206M on $56.2B loans (+13% YoY). Repurchased $400M common stock at avg. $152/share; $1.1B remaining authorization. Capital ratios solid: Tier 1 leverage 11.7%, total capital 22.5%.
Why this rating
Strong earnings beat (~+42% EPS YoY), record assets, acquisition execution positive, but Clark deal ($47B client assets) modest vs. $28.1B company market cap; routine quarterly results despite scale. Interest rate pressure on NIM evident (down 10bps sequentially); capital ratios declining sequentially but above minimums.
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