Ticonderoga Maintains a 'Neutral' on Raymond James (RJF); Reports Slight Beat on Better Banking, Trading

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April 21, 2011 8:38 AM EDT
Get Alerts RJF Hot Sheet
Price: $179.99 -0.45%

Rating Summary:
    9 Buy, 16 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 12 | Down: 21 | New: 20
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Ticonderoga maintains a 'Neutral' on Raymond James (NYSE: RJF).

Ticonderoga analyst says, "RJF reported EPS of $0.64, a penny better than our estimate. Upside was driven by better revenues ($30 million above our estimate) but partially offset by higher expenses. The non-compensation ratio was 17.4% compared to 16.6% last quarter, driven by other expenses. Banking revenues were the standout, coming in $18 million better than our estimate...Credit Metrics Continue to Improve. Loan balances declined to $6.03 billion, down from $6.10 billion last quarter...Solid Quarter, But We Feel It Is in the Stock."

For more ratings news on Raymond James click here and for the rating history of Raymond James click here.

Shares of Raymond James closed at $36.94 yesterday.

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