Welcome to our dedicated page for Stifel Financial news (Ticker: SF), a resource for investors and traders seeking the latest updates and insights on Stifel Financial stock.
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) announced the appointments of Maryam Brown and Lisa Carnoy to its Board of Directors, effective April 26, 2023. Maryam Brown, currently President of SoCalGas, brings over 25 years of energy industry experience, including roles in engineering, legal, and policy. Lisa Carnoy, a seasoned financial executive, previously served as CFO at AlixPartners and held senior positions at Bank of America Merrill Lynch. Both appointments are seen as a strategic move to enhance the Board's expertise.
Chairman Ronald J. Kruszewski expressed confidence in their contributions, highlighting the unique perspectives they will bring to the firm. Stifel, headquartered in St. Louis, Missouri, operates through various subsidiaries, offering services like securities brokerage and investment banking.
Stifel Financial Corp. (NYSE: SF) reported net revenues of $1.1 billion for Q1 2023, matching the same period last year. However, net income available to common shareholders saw a decline to $148.2 million ($1.28 per diluted share) from $164.2 million ($1.39 per diluted share) in Q1 2022. Non-GAAP net income was $161.3 million ($1.40 per diluted share). Notably, net interest income surged by 90% year-over-year to $140.6 million, driven primarily by higher interest rates. The firm also recruited 49 financial advisors during the quarter. However, the Institutional Group's revenues fell 23% to $332.6 million, attributed to lower advisory transactions and market conditions. The company maintained a conservative approach, exemplified by a pre-tax margin of 20.5% and a return on tangible common equity of 20%.
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