* Q2 EPS $0.64 vs. $0.45 a year prior
* Total revenue increased 16 pct to $867 mln
(Adds estimates, CEO comment, details on pretax income from
capital markets, private client group and RJ Bank)
CHARLOTTE, N.C., April 20 (Reuters) -- Raymond James
Financial Inc's (RJF.N) quarterly net income rose 45 percent,
beating analyst estimates as the brokerage and investment
banking firm posted higher total revenue.
The St. Petersburg, Florida-based company on Wednesday
reported fiscal second-quarter net income of $80.9 million, or
64 cents per share, an increase from $55.6 million, or 45 cents
per share, a year ago.
Analysts projected Raymond James would earn 62 cents per
share, according to Thomson Reuters I/B/E/S.
Total revenue increased 16 percent to $866.7 million.
"Our business results continue to improve and we are
well-positioned to continue our growth and expansion," said
Paul Reilly, Raymond James' chief executive, in a prepared
The company's capital markets, private client group -- its
wealth management arm -- and RJ Bank -- its retail bank
subsidiary -- all posted gains in pretax income.
Raymond James' private client group was its most profitable
unit pretax, reporting $46 million in income, up 26 percent
from a year-ago as revenue in the unit increased 19 percent.
Its capital market's business pretax income rose 53 percent
to $33.7 million. Total revenue in the unit rose 18 percent to
RJ Bank reported pretax income of $42.3 million, a 37
percent increase from a year prior.
Shares of Raymond James closed up 1.9 percent at $36.94 on
the New York Stock Exchange.
(Reporting by Joe Rauch; Editing by Steve Orlofsky, Bernard