NEW YORK, May 11 (Reuters) - Raymond James Financial Inc (RJF.N: Quote, Profile, Research) said it expects $251 million of loan losses and $17.5 million in securities losses over two years under its own "stress test," but does not expect to need fresh capital to be well-capitalized.

The St. Petersburg, Florida-based company, which runs one of the largest U.S. brokerages, also said that under its own more "extreme" stress test scenario, cumulative loan losses could total $459 million over the same period.

Raymond James disclosed results of its own stress test scenario in slides posted on its website. It said its nonperforming asset balance now stands at $154 million.

Last month, the company posted a 90 percent drop in quarterly profit, a bigger decline than analysts expected, hurt by an abnormally high level of bad loans at its banking unit.

The stress test is different from the stress tests that the U.S. government recently performed on 19 large U.S. banks. Raymond James was not among those lenders.

Shares of the company closed down $1.31 at $17.67 on the New York Stock Exchange.

The company said after U.S. markets closed that it plans to further discuss its outlook at a UBS financial services conference on May 12. (Reporting by Tenzin Pema; editing by Gunna Dickson)