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Stifel Financial Corp. (NYSE: SF), established in 1890, is one of the nation’s leading full-service financial services firms. Headquartered in St. Louis, Missouri, Stifel provides a wide range of services including brokerage, trading, investment banking, and investment advisory services to individual investors, professional money managers, businesses, and municipalities. With over 350 locations across 45 states and the District of Columbia, Stifel ranks as the 6th largest brokerage firm in the United States based on the number of financial advisors, boasting approximately 2,100 advisors.
The company’s core business is divided into two main segments: Global Wealth Management and Institutional Securities. The Global Wealth Management division generates about 60% of the company’s net revenue, supporting a vast network of financial advisors. The Institutional Securities division, which includes equity and fixed income trading, investment banking, and research services, contributes the remaining revenue.
Stifel has a robust equity research department that has garnered accolades from renowned publications such as The Wall Street Journal, Forbes, and The Financial Times. The firm also features subsidiaries like Century Securities Associates, Inc., and Stifel Nicolaus Limited, which enhance its service offerings.
Stifel is known for its strategic acquisitions, which have expanded its market presence and service capabilities. One key acquisition is KBW (Keefe, Bruyette & Woods), which has strengthened Stifel’s footprint in the financial services sector.
In recent news, Stifel reported net revenues of $1.0 billion for the third quarter of 2023, consistent with the same period in the previous year. However, net income available to common shareholders decreased to $58.8 million from $141.8 million. Despite this, the firm remains committed to growth, as evidenced by its recognition for ‘Reopening the IPO Market and Taking More Companies Public Than its Competitors.’ Stifel and its subsidiary KBW served as bookrunners on several high-profile IPOs in sectors like consumer, natural resources, and specialty finance.
For more information, Stifel’s Investor Relations can be contacted via Joel Jeffrey, Senior Vice President, at (212) 271-3610 or investorrelations@stifel.com.
Stifel Financial Corp. (NYSE: SF) has launched Stifel Discover, a new content feed integrated into their Wealth Tracker app. This feature delivers personalized financial insights and research from Stifel's experts, covering over 2,000 global stocks.
The platform offers proprietary insights from Stifel's leadership team, including their Chief Investment Officer, Chief Economist, and equity research analysts. Content is dynamically updated throughout the day based on user preferences and market movements.
Developed in partnership with MoneyLion (NYSE: ML), Stifel Discover utilizes MoneyLion's mFeed technology to provide personalized content experiences. Future updates will allow Stifel Financial Advisors to customize client feeds based on financial life stages. The Wealth Tracker app, available on App Store and Google Play, enables users to aggregate all their financial assets and liabilities in one location.
Stifel Financial Corp. (NYSE: SF) reported strong financial results for Q4 and full year 2024. The company achieved record net revenues of $4.97 billion for 2024, up from $4.35 billion in 2023. Q4 2024 net revenues reached $1.36 billion, compared to $1.15 billion in Q4 2023.
Fourth quarter net income available to common shareholders was $234.7 million ($2.09 per diluted share), up from $153.2 million ($1.38 per share) in Q4 2023. Full-year 2024 net income was $694.1 million ($6.25 per diluted share), compared to $485.3 million ($4.28 per share) in 2023.
Key highlights include record client assets of $501.4 billion (up 13%), successful recruitment of 100 financial advisors, and a 10% increase in common stock dividend announced for Q1 2025. Investment banking revenue increased 48% in Q4 2024 compared to Q4 2023, driven by higher advisory and capital raising revenues.
Stifel Financial Corp. (NYSE: SF) has announced a 10% increase in its quarterly common stock cash dividend to $0.46 per share, payable March 17, 2025, to shareholders of record as of March 3, 2025. The company also declared quarterly cash dividends for its preferred stock series:
- Series B Preferred Stock: $0.390625 per depositary share ($390.625 per share)
- Series C Preferred Stock: $0.3828125 per depositary share ($382.8125 per share)
- Series D Preferred Stock: $0.281250 per depositary share ($281.250 per share)
These preferred stock dividends cover the period from December 16, 2024, to March 17, 2025, and will be paid to shareholders of record on March 3, 2025.
Stifel Financial Corp. (NYSE: SF) has announced it will release its fourth quarter and full year 2024 financial results before market opens on Wednesday, January 29, 2025. The company has scheduled a conference call at 9:30 a.m. Eastern time on the same day to review the results.
Stifel Financial Corp. (NYSE: SF) announced it has signed a definitive agreement to acquire Bryan, Garnier & Co., a leading independent investment bank focused on European technology and healthcare companies.
Founded in 1996, Bryan Garnier offers mergers & acquisitions advisory, private and public growth financing solutions, and institutional sales & execution. The firm has approximately 200 professionals, including 33 Managing Directors, and operates from offices in Paris, London, Amsterdam, Munich, Oslo, Stockholm, and New York.
Stifel's CEO, Ronald J. Kruszewski, stated that Bryan Garnier's expertise in healthcare and technology aligns well with Stifel’s business, enhancing its global advisory capabilities. Olivier Garnier, co-founder of Bryan Garnier, highlighted the combined benefits for clients, employees, and the European market.
Stifel, which is expected to generate over $4.8 billion in net revenue in 2024, has been expanding through acquisitions and organic growth. The company employs nearly 10,000 professionals across approximately 400 offices worldwide. Keefe, Bruyette & Woods acted as the exclusive financial advisor to Stifel, while Houlihan Lokey advised Bryan Garnier.
Stifel Financial Corp. (NYSE: SF) reported strong operating results for November 2024, with total client assets reaching a record $514 billion, including record fee-based assets of $197 billion. This represents a 20% increase year-over-year and 4% growth from October 2024. The company saw a 3% increase in client money market and insured product balances from October, reaching $28.6 billion. Bank loans remained stable at $20.7 billion. The growth was attributed to strong equity markets and successful financial advisor recruiting, while the Institutional Group experienced improved client activity levels and growing investment banking pipelines.
Stifel Financial Corp. (NYSE: SF) has released its October 2024 operating results, showing significant year-over-year growth in key metrics. Total client assets reached $493,469 million, up 22% from the previous year, while fee-based assets increased 28% to $189,326 million. However, both metrics declined 1% compared to September 2024 due to market conditions. Client money market and insured product balances grew 2% in October, driven by Smart Rate and Sweep balances growth. Bank loans remained relatively stable at $20,722 million.
Stifel Financial Corp. (NYSE: SF) has appointed Brad Edgar as Managing Director and Lead Healthcare Equity Trader in their New York office. Edgar, who joins from Seven Grand Managers where he was Partner, brings over 20 years of healthcare equity trading experience from positions at BMO, Evercore, and UBS. The appointment strengthens Stifel's healthcare vertical, where the company maintains a significant presence with specialist sales force, investment banking, and equity research capabilities. Stifel currently ranks among the largest traders of public healthcare companies, making markets in more than 700 healthcare stocks.
B. Riley Financial (NASDAQ: RILY) has announced an agreement to sell part of its traditional (W-2) Wealth Management business to Stifel Financial Corp. (NYSE: SF) for an estimated $27-35 million in cash. The deal involves the transition of 40-50 advisors managing approximately $3.5-4.5 billion in assets to Stifel in early 2025. The transaction excludes B. Riley's 190 independent advisors and 90 tax professionals. The company cites disruption to its Wealth Management business due to competitors capitalizing on concerns about its principal investments business as a key factor in this strategic decision.
Stifel Financial Corp. (NYSE: SF) has announced its Board of Directors' declaration of quarterly dividends. The common stock dividend is set at $0.42 per share, payable December 16, 2024, to shareholders of record as of December 2, 2024. Additionally, quarterly cash dividends were declared for three preferred stock series: Series B (6.25%) at $0.390625 per depositary share, Series C (6.125%) at $0.3828125 per depositary share, and Series D (4.50%) at $0.281250 per depositary share. These preferred stock dividends cover the period from September 17, 2024, to December 16, 2024, with the same record and payment dates as the common stock dividend.
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