The financial services firm reported stronger private client, asset management and banking results for the quarter ended June 30, 2026, while repurchasing $400 million of stock and citing momentum into fiscal fourth quarter.
Raymond James Financial reported record results for its fiscal third quarter ended June 30, 2026, with net revenue rising to $3.93 billion and net income available to common shareholders reaching $595 million, or a record $3.01 per diluted share. Adjusted net income available to common shareholders was $620 million, or $3.14 per diluted share, excluding $25 million of acquisition-related expenses, net of tax. The company said growth was driven largely by asset management and related administrative fees, which increased to about $2.1 billion, alongside continued strength in its Private Client Group and higher investment banking activity. Client asset growth remained a central driver. Total client assets under administration reached a record $1.92 trillion, while Private Client Group assets under administration rose to a record $1.86 trillion and fee-based accounts climbed to a record $1.15 trillion. Domestic Private Client Group net new assets were $21.7 billion in the quarter, equal to 5.5% annualized growth from beginning-of-quarter assets. CEO Paul Shoukry said the firm entered the fiscal fourth quarter with significant momentum, supported by historically strong business drivers, robust financial advisor recruiting and strong investment banking pipelines, as well as capital and liquidity to fund growth. Performance was broad-based across segments. Private Client Group posted record quarterly net revenues of $2.84 billion, Capital Markets revenue rose to $477 million with investment banking revenue at $285 million, Asset Management delivered record net revenues of $362 million and financial assets under management of $345 billion, and the Bank segment recorded quarterly net revenues of $488 million and record pre-tax income of $206 million. Net bank loans increased to a record $56.2 billion, including securities-based loans (loans backed by client portfolios) of $24.8 billion. For the first nine months of fiscal 2026, Raymond James reported record net revenues of $11.5 billion, record earnings per diluted share of $8.52 and record adjusted earnings per diluted share of $8.83. The company also repurchased $400 million of common stock during the quarter at an average price of $152 per share, leaving $1.1 billion under its board-approved buyback authorization. It said capital ratios remained well above regulatory requirements.