Raymond James Financial is a high-quality wealth management franchise with a perfect Piotroski F-Score of 9/9, a confirmed wide economic moat, and consistent earnings beats, but the stock has already exceeded analyst consensus targets and sits in a confirmed short-term downtrend that limits near-term entry attractiveness.
Thesis pillars
- Wide Economic Moat Quality↑Improving
- Attractive Valuation Metrics↓Deteriorating
- Earnings Beat Consistency↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Nov 25, 2025· older than 90 days
Raymond James Financial, Inc. (RJF) Stock Analysis
Breakout setup
Financial Services · Asset Management
Hold if already holding. Not a fresh buy at $168.69, but acceptable to hold if already in. Reason: Analyst target reached - limited upside remaining.
Raymond James Financial delivers wealth management, capital markets, asset management, and banking across five segments, predominantly in the U.S. with operations in Canada and the UK. The PCG segment generated $10.18 billion in net revenues in fiscal 2025 on $1.67 trillion in... Read more
Hold if already holding. Not a fresh buy at $168.69, but acceptable to hold if already in. Reason: Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 67, MACD bullish. Downgraded from BUY WAIT — price $168.69 vs the analyst target $158.53: -6.0% upside; No upside left. Score 6.2/10, high confidence.
Passes 7/9 gates (positive momentum, clean insider activity, no SEC red flags, news events none recent, earnings proximity 83d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio. Suitability: moderate.
About Raymond James Financial, Inc.
About Raymond James Financial, Inc.
Raymond James Financial generated $10.18 billion in Private Client Group net revenues and $1.77 billion in Capital Markets net revenues for the fiscal year ended September 30, 2025, serving 8,943 affiliated financial advisors. The company operates five segments — PCG, Capital Markets, Asset Management, Bank, and Other — primarily in the U.S. with smaller presences in Canada, the UK, and Europe. The Federal Reserve serves as primary regulator given Raymond James' status as a bank holding company.
The PCG segment earns asset management fees on $1.01 trillion in fee-based accounts within a total $1.67 trillion in client AUA, plus brokerage commissions and RJBDP servicing fees from third-party banks on client cash swept into the multi-bank deposit program. The Bank segment funds itself primarily through RJBDP sweep deposits from PCG clients — a funding source the 10-K identifies as one the company "relies heavily" upon for Bank segment asset growth. As of September 30, 2025, securities-based loans and residential mortgage loans represented 46% of Bank segment assets, while corporate and tax-exempt loans represented 33%, with 66% of that corporate portfolio in U.S. or Canadian syndicated facilities. The Capital Markets segment provides M&A advisory, equity and debt underwriting, and fixed-income and equity brokerage to institutional clients across the U.S., Canada, and Europe, while the Asset Management segment collects management fees as a percentage of fee-billable AUM through its AMS and Raymond James Investment Management divisions.
Show full overview
Interest rate levels materially influence the RJBDP fee income Raymond James collects from third-party banks, which is variable and fluctuates with short-term rates and the spread between those rates and what participating banks pay depositors. Elevated interest rates incentivize PCG clients to reallocate cash into money market funds and fixed-income securities, reducing RJBDP balances and the attached fee income. The 10-K notes that RJBDP cash balance declines could impair the Bank segment's ability to grow interest-earning assets or force substitution with higher-cost funding sources, exposing the company to simultaneous NII compression and deposit-flow pressure.
See also: Financial Services · Asset Management
From Raymond James Financial, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated Oct 28, 2026Recent Developments — Raymond James Financial, Inc.
Latest news
- NEWS Raymond James Financial (NYSE:RJF) Releases Quarterly Earnings Results, Beats Estimates By $0.33 EPS - MarketBeat — MarketBeat Oct 28, 2026 positive
- NEWS Earnings Flash (RJF) Raymond James Financial, Inc. Reports Q4 Revenue $4.27B, vs. FactSet Est of $4.20B - marketscreener — marketscreener.com Oct 28, 2026 positive
- NEWS Earnings Flash (RJF) Raymond James Financial, Inc. Posts Q4 Adjusted EPS $3.59 per Share, vs. FactSet Est of $3.26 - mar — marketscreener.com Oct 28, 2026 positive
- NEWS Raymond James Financial Fiscal Q4 Adjusted Earnings, Revenue Rise - Yahoo Finance — Yahoo Finance Oct 28, 2026 positive
- NEWS Raymond James (NYSE:RJF) exceeds Q3 CY2026 expectations - StockStory — StockStory Oct 28, 2026 positive
Latest item Oct 28, 2026 · Generated 2026-11-05T11:34:08Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $168.69, but acceptable to hold if already in. Reason: Analyst target reached - limited upside remaining. Chart setup: Golden cross, above all MAs, RSI 67, MACD bullish. Downgraded from BUY WAIT — price $168.69 vs the analyst target $158.53: -6.0% upside; No upside left. Analyst target $158.53 reached (−6.0%), stop $156.78 (−7.6%), A.R:R -0.6:1. Score 6.2/10, high confidence.
Analyst target $158.53 reached (−6.0% from $168.69); no take-profit level is published. Analyst target $158.53 reached (−6.0%), stop $156.78 (−7.6%), A.R:R -0.6:1. Stop-loss: $156.78.
Analyst target reached - limited upside remaining.
Raymond James Financial, Inc. trades at a P/E of 14.2 (forward 10.3). TrendMatrix value score: 7.4/10. Verdict: Hold.
21 analysts rate RJF, with a consensus score of 3.6/5. 14 analysts publish price targets averaging $182.
What does Raymond James Financial, Inc. do?Raymond James Financial delivers wealth management, capital markets, asset management, and banking across five...
Raymond James Financial delivers wealth management, capital markets, asset management, and banking across five segments, predominantly in the U.S. with operations in Canada and the UK. The PCG segment generated $10.18 billion in net revenues in fiscal 2025 on $1.67 trillion in client assets under administration, while the Bank segment held $65.26 billion in total assets as of September 30, 2025, primarily funded by client deposits swept from PCG.