Loading
ST. PETERSBURG -- Raymond James Financial Inc. (symbol: RJF) posted a record performance in its 2011 fiscal year, setting new highs in revenues generated and net income earned.
The financial firm generated $3.33 billion in annual revenues, up 14% over the year, and $278.4 million in net income, up 22%.
“These results are impressive given that they were tempered by historically low interest earnings on cash balances and also include the charge for auction rate securities (ARS), which is now behind us,” says CEO Paul Reilly of the firm's performance in a release.
The company's Private Client Group contributed the largest share of revenues to the overall total, with $2.2 billion in 2011 business generated. That division also contributed the highest share in pre-tax income, with $218.8 million earned.
Raymond James Bank created $173.0 million in pre-tax income on the year. The bank's loan portfolio continues to grow, and now stands at $6.55 billion in outstanding loans, with $300 million in new loans having originated last quarter.
Raymond James stock touched above $29 in early Thursday trading. That price is essentially unchanged from its year-ago value, despite having reached a high above $39 in February.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
