Raymond James Financial (RJF) Could Be 11% Undervalued As Earnings Strengthen

Raymond James Financial (RJF) moved back into focus after releasing fourth quarter and full year 2026 results. The company reported higher revenue, net income and earnings per share from continuing operations compared with the prior year.

Recent moves in Raymond James Financial’s share price have been mixed, with the stock down about 10% over the past 90 days but supported by a 3.7% total shareholder return over the past year and a much stronger 68.8% total shareholder return across three years. The current US$161.67 share price and modest one year gain sit against that longer run. At the same time, the latest earnings release and the recently completed US$949.28m buyback program give investors fresh data points to reassess growth potential and risk appetite.

Scan how Raymond James Financial compares to other wealth and capital markets players by running the hand picked 19 high quality undiscovered gems alongside this latest earnings and buyback story.

Bulls point to Raymond James Financial’s higher earnings, expanding client assets and completed buyback. Bears focus on the recent 10% slide. Which side does the valuation math support next?

Most Popular Narrative: 11% Undervalued

On the most followed narrative, Raymond James Financial screens as undervalued, with a fair value of $182.21 against the $161.67 last close. This puts the spotlight on how the business is using its wealth platform and capital returns to justify that gap.

Raymond James Financial's continued success in recruiting experienced financial advisors with sizable production and client assets, alongside very high adviser satisfaction and strong net new asset inflows such as the US$75b added domestically over the first nine months of fiscal 2026, is expected to keep expanding client assets under administration and support future fee and commission revenue.

See why 15 investors see Raymond James Financial as 11% undervalued.

Result: Fair Value of $182.21 (UNDERVALUED)

Still, the Raymond James Financial story can change quickly if legal expenses from the cash sweep lawsuit remain elevated, or if capital markets deal activity weakens again.

Find out about the key risks to this Raymond James Financial narrative.

Next Steps

There are mixed signals on Raymond James Financial so far. If you want a clearer picture before sentiment swings again, review both sides of the story through the 4 key rewards and 1 important warning sign.

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