Research Desk Line-up: Piper Jaffray Cos. Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 15, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Raymond James Financial, Inc. (NYSE: RJF), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=RJF, following the Company's posting of its financial performance on October 25, 2017, for the fourth quarter fiscal 2017 (Q4 FY17) and full fiscal 2017 (FY17). The St. Petersburg, Florida-based Company's quarterly net revenues and adjusted diluted EPS rose 16% and 10% y-o-y, respectively; outperforming market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Investment Brokerage - Regional industry. Pro-TD has currently selected Piper Jaffray Cos. (NYSE: PJC) for due-diligence and potential coverage as the Company released on October 26, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Piper Jaffray Cos. when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on RJF; also brushing on PJC. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

In the quarter ended September 30, 2017, Raymond James' total revenues came in at $1.73 billion compared to $1.49 billion in the year-ago same quarter. The Company's net revenues rose to $1.69 billion in Q4 FY17 from $1.46 billion in Q4 FY16. Net revenue numbers for the reported quarter outperformed market expectations of $1.67 billion.

The financial services Company reported net income attributable to Raymond James of $193.49 million, or $1.31 per diluted share, in Q4 FY17 compared to $171.67 million, or $1.19 per diluted share, in Q4 FY16. The Company's adjusted net income for the reported quarter improved to $217.26 million, or $1.47 per diluted share, from $193.81 million, or $1.34 per diluted share, in the last year's comparable quarter. Meanwhile, Wall Street had expected the Company to report adjusted net income of $1.34 per diluted share in Q4 FY17.

For full-year FY17, Raymond James' net revenues came in at $6.37 billion compared to $5.41 billion in the last year's same period. The Company's net income was $636.24 million, or $4.33 per diluted share, for FY17 versus $529.35 million, or $3.65 per diluted share, in the year-ago same period. Furthermore, the Company reported adjusted net income of $768.11 million, or $5.23 per diluted share, in FY17 compared to $569.49 million, or $3.93 per diluted share, in the prior year.

Performance Metrics

During Q4 FY17, Raymond James' securities commissions and fees rose 11% to $1.03 billion y-o-y from $923.86 million in Q4 FY16. The Company reported Investment banking revenues of $130.68 million in Q4 FY17, rising 24% from $105.18 million in the prior year's same quarter. Investment advisory and related administrative fees revenues increased 22% to $127.09 million in Q4 FY17 from $104.53 million in the last year's comparable quarter. Interest revenues also rose to $222.58 million in Q4 FY17, from $172.48 million in the previous year's corresponding quarter. Account and service fees surged 32% to $181.42 million y-o-y in Q4 FY17. Furthermore, net trading profit were $22.11 million in Q4 FY17 compared to $25.21 million in Q4 FY16.

Raymond James' interest expenses surged to $42.58 million in Q4 FY17 from $32.22 million in Q4 FY16. Meanwhile, the Company's total non-interest expenses rose to $1.41 billion in Q4 FY17 from $1.22 billion in Q4 FY16.

Raymond James' Segment-Wise

During Q4 FY17, the Private Client Group segment's net revenues grew to $1.17 billion from $963.35 million in the previous year's same quarter. Additionally, the pre-tax income increased to $142.27 million in Q4 FY17 from $106.28 million in the year-ago comparable quarter.

The Capital Markets segment's net revenue fell to $265.59 million in Q4 FY17 from $285.84 million in Q4 FY16. Moreover, the segment's pre-tax income for Q4 FY17 rose to $43.93 million from $53.15 million in Q4 FY16.

The Asset Management segment reported net revenues of $131.43 million in Q4 FY17, rising 24% from $106.37 million in Q4 FY16. The segment's pre-tax income surged 39% y-o-y to $48.76 million in Q4 FY17.

In Q4 FY17, RJ Bank's net revenues were $162.80 million versus $133.73 million in the last year comparable quarter. The segment posted pre-tax income of $113.28 million in Q4 FY17, which came in at 16% above the $97.37 million reported in the prior year's corresponding period.

Balance Sheet Analyzed

Raymond James' Client assets under administration were $692.9 billion at September 30, 2017, compared to $604.4 billion at close of Q4 FY16. The Company had Private Client Group assets under administration of $659.5 billion as on September 30, 2017, compared to $574.1 billion at the close of Q4 FY16. At the end of September quarter, Raymond James had $294.5 billion in Private Client Group assets in fee-based accounts up 27% from $231.0 billion in the year-ago same quarter. The Company's Financial assets under management was $96.4 billion as on September 30, 2017, up 25% from $77.0 billion as on September 30, 2016.

Stock Performance

On Tuesday, November 14, 2017, the stock closed the trading session at $83.03, marginally slipping 0.41% from its previous closing price of $83.37. A total volume of 566.60 thousand shares have exchanged hands. Raymond James Financial's stock price surged 3.89% in the last three months, 15.67% in the past six months, and 18.46% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have rallied 19.86%. The stock is trading at a PE ratio of 19.23 and has a dividend yield of 1.06%. At Tuesday's closing price, the stock's net capitalization stands at $11.98 billion.

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