Raymond James Acquires Imperial Capital's Fixed Income Sales & Trading Business
RJF sits 20% above its 52-week low of $138.82.
Summary
Raymond James is buying Imperial Capital's fixed income sales and trading business, expanding its institutional fixed income capabilities. The deal adds a team and client base in a segment where scale matters. No financial terms were disclosed, but the acquisition is modest relative to RJF's $32.6B market cap and follows a period of record client assets and strong earnings. The move signals continued investment in capital markets despite a mixed rate environment.
At the time of this announcement, RJF was trading at $167.23 on NYSE in the Finance sector, with a market capitalization of approximately $32.6B. The 52-week trading range was $138.82 to $177.66. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.