RJ eyed as takeover target, report says

Raymond James' asset-management unit and its bank could be worth close to $4 billion, according to Barrons.
FEB 04, 2008
Raymond James Financial Inc. could be a takeover target or at least an attractive buy for investors looking to place their money in strong financial stocks, according to a column in Barron's. "Without suggesting it will be acquired any time soon-the risk-reward considerations looks favorable [for the St. Petersburg, Fla.-based brokerage company]," the report stated. Taking into account what Charlotte, N.C.-based Wachovia Corp. paid to purchase A.G. Edwards & Sons Inc. of St. Louis, based on client-asset levels Raymond James would be worth close to $4 billion, without a premium, for its asset-management unit and its bank, according to the report. Shares of Raymond James are trading near two-year lows, partly on concerns involving the rapid growth of Raymond James Bank, according to the report. However, the report stated that the bank's book of mostly purchased loans seems "fairly sound," and a good portion of it was acquired late last year when the market turmoil made decent commercial paper available at good prices. Raymond James declined to comment for this article.

Latest News

There’s no advisor playbook for resolving family succession conflicts, but these skills help: UBS
There’s no advisor playbook for resolving family succession conflicts, but these skills help: UBS

“Ultimately, you just try to embrace collaboration,” said Greg Merrill of UBS.

NorthRock widens Minneapolis reach with Kowalski Financial deal
NorthRock widens Minneapolis reach with Kowalski Financial deal

Building on its Personal Office platform, NorthRock Partners' latest transaction brings more than $200 million in assets under management and five employees to the growing RIA.

Osaic deepens RISR partnership as advisors race to serve aging business owners
Osaic deepens RISR partnership as advisors race to serve aging business owners

Expanded deal pairs succession-planning software with a broker-dealer network already logging rapid AI adoption among 11,000 advisors.

SEC's Waldon steps down as enforcement deputy after 14 years
SEC's Waldon steps down as enforcement deputy after 14 years

Osman Nawaz, an agency veteran who rejoined last month, takes over as principal deputy director.

RIA M&A shatters records as first-half deal count nears 40% jump
RIA M&A shatters records as first-half deal count nears 40% jump

Berkshire Global Advisors reports reveals scaled buyers and steady tuck-ins push 2026 dealmaking to new highs.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income