Raymond James (RJF -3.9%) is off sharply following its agreement to purchase Morgan Keegan from...

|About: Raymond James Financial ... (RJF)|By:, SA News Editor

Raymond James (RJF -3.9%) is off sharply following its agreement to purchase Morgan Keegan from Regions Financial (RF -3%), but Steve Stemach calls the deal an "inside-the-park home run." Taking advantage of Regions' need to raise money to pay back its TARP loan, RJF beefed up its wealth management operation at the right price, he says.