Raymond James (RJF) reported fiscal Q3 EPS of $2.18, missing estimates due to a $58M legal reserve and rising expenses. Revenues rose 9% to $3.40B, with client assets at $1.64T and $451M in share buybacks. Despite lower-than-expected results, the investment banking and trading businesses supported growth. CEO Paul Shoukry expressed optimism about the macroeconomic conditions. Expenses rose by 10% to $2.85B, with client assets under administration at $1.64T. RJF repurchased $451M in shares and has $749M remaining under the repurchase authorization. Raymond James carries a Zacks Rank #3 (Hold).

Read more at Zacks Investment Research: RJF Falls as Q3 Earnings Lag on Legal Reserve, IB & Trading Stay Solid – July 24, 2025