Financials

CFRA Maintains Hold Opinion On Shares Of Raymond James Financial, Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: After earnings beat, we raise our target by $12 to $110, using a forward P/E of 11.5x our FY 24 (Sep.) EPS estimate, a slight discount to RJF’s five-year average of 12.7x as a likely recovery within Capital Markets is partially offset by weaker net interest income (NII) in ’24. We raise our FY 24 EPS estimate by $0.25 to $9.56 and start FY 25’s at $9.98. RJF posted FQ1 24 adjusted EPS of $2.40 vs. $2.29, a $0.14 consensus beat. Revenues rose 8% Y/Y on robust growth within Private Clients Group (PCG, +8% Y/Y), Capital Markets (CM, +15% Y/Y), and Asset Management (+14% Y/Y), partially offset by weaker results at RJ Bank (-13% Y/Y). PCG benefited from annualized net new asset growth of 8% and strong […]

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Stifel Financial Corp. (SF) Q4 2023 Earnings Call Transcript Summary

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The following is a summary of the Stifel Financial Corp. (SF) Q4 2023 Earnings Call Transcript: Financial Performance: Stifel Financial reported net revenue of approximately $4.4 billion in 2023. The firm successfully deployed $630 million of excess capital, which included rebuying 7.2 million shares and distributing $211 million in common and preferred dividends. The Board has announced a 17% increase in the annual dividend from $1.44 to $1.68 per share. Q4 net revenue was $1.15 billion, marking a 2% YoY increase, and EPS grew 150% sequentially due to higher revenues and lower non-comp operating expenses. Net interest income stood at $273 million, but was negatively impacted by higher deposit costs and larger average cash balances. Tier 1 leverage capital decreased 30 basis points sequentially. Business Progress: Despite the industry-wide slowdown, Stifel achieved relatively flat M&A advisory revenue and increased the number of financial advisors by 30% in 2023 compared to

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Blackstone (NYSE:BX) Stock Analyst Ratings

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Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 19.53% Morgan Stanley $120 → $144 Maintains Overweight 01/22/2024 7.91% Wells Fargo $127 → $130 Maintains Overweight 01/19/2024 2.93% Citigroup $116 → $124 Downgrades Buy → Neutral 01/11/2024 — Oppenheimer Downgrades Outperform → Perform 01/04/2024 -2.05% TD Cowen → $118 Initiates Coverage On → Market Perform 01/03/2024 6.25% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 24.51% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -12.84% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -6.2% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -21.97% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 -0.39% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -3.71% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -6.2% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 3.76% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023

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Raymond James Finl Q1 2024 Adj EPS $2.40 Beats $2.26 Estimate, Sales $3.01B Miss $3.06B Estimate

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Raymond James Finl (NYSE:RJF) reported quarterly earnings of $2.40 per share which beat the analyst consensus estimate of $2.26 by 6.19 percent. The company reported quarterly sales of $3.01 billion which missed the analyst consensus estimate of $3.06 billion by 1.73 percent. This is a 8.04 percent increase over sales of $2.79 billion the same period last year.

Raymond James Finl Q1 2024 Adj EPS $2.40 Beats $2.26 Estimate, Sales $3.01B Miss $3.06B Estimate Read Post »

Raymond James Financial Reports Fiscal First Quarter of 2024 Results

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Raymond James Financial Reports Fiscal First Quarter of 2024 Results ST. PETERSBURG, Fla., Jan. 24, 2024 (GLOBE NEWSWIRE) — — Record client assets under administration of $1.37 trillion and record financial assets under management of $215 billion, up 17% and 16%, respectively, over December 2022 — Domestic Private Client Group net new assets(1) of $21.6 billion for the fiscal first quarter, annualized growth from beginning of period assets of 7.8% — Quarterly net revenues of $3.01 billion, up 8% over the prior year’s fiscal first quarter and down 1% compared to the preceding quarter — Quarterly net income available to common shareholders of $497 million, or record $2.32 per diluted share; record quarterly adjusted net income available to common shareholders of $514 million(2), or record $2.40 per diluted share(2) — Annualized return on common equity of 19.1% and annualized adjusted return on tangible common equity of 23.8%(2) for fiscal first

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Raymond James Financial’s Fiscal Q1 Adjusted Earnings, Revenue Advance

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Raymond James Financial (RJF) reported fiscal Q1 adjusted earnings Wednesday of $2.40 per diluted share, up from $2.29 a year earlier. Analysts surveyed by Capital IQ expected $2.26. Revenue for the quarter ended Dec. 31 was $3.01 billion, up from $2.79 billion a year earlier. Analysts surveyed by Capital IQ expected $3.01 billion.

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Blackstone’s Earnings In Focus: BofA Analyst Estimates In-Line But Sees Improving Outlook

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BofA Securities analyst Craig Siegenthaler expresses his view on Blackstone Inc‘s (NYSE:BX) upcoming fourth quarter FY23 earnings this Thursday. The analyst expects a more bullish outlook on key fundamental metrics (fundraising, investing, realizations) and stated that the company CEO highlighted six large investment announcements since late fourth-quarter FY23 at Davos last week. The analyst noted that BREIT Fee related performance revenues (FRPR) adjustment following a negative return in December and Blackstone Property Partners (BPP) Life Sciences FRPR removal following a negative return in 4Q23 erased its 9/30/23 net accrued carry, driven by BX real estate FRPR. The analyst expects the near-term EPS revisions to have very little impact on 2025-26 EPS. The analyst writes that fundholders could react to negative quarterly performance following significant redemption improvement through December. However, Siegenthaler expects the improving trajectory to restart by March and for BREIT limits to end by mid-2024. The analyst also expects a very

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Stifel Reports Fourth Quarter and Full Year Results

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Stifel Reports Fourth Quarter and Full Year Results ST. LOUIS, Jan. 24, 2024 (GLOBE NEWSWIRE) — Stifel Financial Corp. (NYSE: SF) today reported net revenues of $1.15 billion for the three months ended December 31, 2023, compared with $1.12 billion a year ago. Net income available to common shareholders of $153.2 million, or $1.38 per diluted common share, compared with $167.3 million, or $1.43 per diluted common share for the fourth quarter of 2022. Non-GAAP net income available to common shareholders of $166.6 million, or $1.50 per diluted common share for the fourth quarter of 2023. Net revenues of $4.35 billion for the year ended December 31, 2023 compared to $4.39 billion a year ago. Net income available to common shareholders of $485.3 million, or $4.28 per diluted common share, compared with $624.9 million, or $5.32 per diluted common share in 2022. Non-GAAP net income available to common shareholders of

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Earnings Outlook For Blackstone

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Blackstone (NYSE:BX) is set to give its latest quarterly earnings report on Thursday, 2024-01-25. Here’s what investors need to know before the announcement. Analysts estimate that Blackstone will report an earnings per share (EPS) of $1.00. Blackstone bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

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Truist Financial Finl Q4 Adj. EPS $0.81 Misses $0.89 Estimate, Sales $5.76B Beat $5.69B Estimate

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Truist Financial (NYSE:TFC) reported quarterly adjusted earnings of $0.81 per share which missed the analyst consensus estimate of $0.89 by 8.99 percent. This is a 37.69 percent decrease over earnings of $1.30 per share from the same period last year. The company reported quarterly sales of $5.76 billion which beat the analyst consensus estimate of $5.69 billion by 1.23 percent. This is a 7.22 percent decrease over sales of $6.21 billion the same period last year.

Truist Financial Finl Q4 Adj. EPS $0.81 Misses $0.89 Estimate, Sales $5.76B Beat $5.69B Estimate Read Post »

Wells Fargo (NYSE:WFC) Stock Analyst Ratings

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Wells Fargo (NYSE:WFC) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/18/2024 4.92% Odeon Capital → $48.8 Downgrades Buy → Hold 01/16/2024 7.5% Piper Sandler $51 → $50 Maintains Neutral 01/16/2024 24.7% Raymond James $55 → $58 Maintains Strong Buy 01/09/2024 9.65% Deutsche Bank → $51 Downgrades Buy → Hold 01/08/2024 18.25% Baird → $55 Downgrades Outperform → Neutral 01/02/2024 41.9% Barclays $54 → $66 Maintains Overweight 12/14/2023 20.58% Odeon Capital → $56.08 Upgrades Hold → Buy 12/08/2023 1.05% Piper Sandler $45 → $47 Maintains Neutral 12/06/2023 18.25% Raymond James $52 → $55 Maintains Strong Buy 12/04/2023 16.1% Morgan Stanley $52 → $54 Maintains Overweight 12/01/2023 7.5% Goldman Sachs $45 → $50 Maintains Buy 10/16/2023 16.1% BMO Capital $52 → $54 Maintains Market Perform 09/22/2023 -5.4% Deutsche Bank $44 → $44 Reiterates Buy → Buy 09/07/2023 -3.25% HSBC → $45 Initiates Coverage

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Corporate Activity Will Pick Up This Year, Says Morgan Stanley CEO

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Corporate activity is likely to pick up this year, but don’t expect a sudden surge in deals just yet, Morgan Stanley CEO Ted Pick said in an interview with CNBC at Davos. There’s a ton of activity buzz so deal’s are going to happen, he said. People want to scale up and there’s a backlog of sponsor activity, so Pick thinks the pace of activity in the advisory business in particular is going to quicken, especially in the mid- to large-caps. “It’s not going to bang, but once people start getting going, I think we’re going to see a bunch of it.” He added that the U.S. is probably past peak inflation and it’s not inconceivable that the Federal Reserve cuts faster than current market pricing.

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