Shares of Raymond James (NYSE: RJF) are flat following earnings after the close of trading Wednesday which came in at $0.87 versus the consensus of $0.86. Nomura Securities analyst Steven Chubak called the results "good enough" and reiterated a Buy rating and price target of $61 on the stock.

Chubak commented, "RJF reported FY1Q15 operating EPS of $0.87 vs. our forecast of $0.85 (and consensus of $0.86). RJF reported net revenues of $1.25bn, modestly above our forecast of $1.24bn but below cons. of $1.26bn. Total non-interest expense of $1.05bn came in slightly above our $1.04bn forecast (but below cons. of $1.07bn). RJ Bank delivered impressive loan growth in FY1Q15, with total loans up +8% QoQ to a record $11.8bn, above $11.3bn forecast. Loan loss provision of $9mn was higher than we had expected, but it is unclear to what extent this was driven by core loan growth vs. credit deterioration tied to lending exposures in the Energy sector, which will likely be addressed on tomorrow’s earnings call."

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Shares of Raymond James closed at $52.32 yesterday.