Stifel Financial Corp. - SF STOCK NEWS

U.S. Ski & Snowboard announced an expanded partnership with Stifel Financial Corp. (NYSE:SF), becoming the official Team Naming Partner for all ski teams, effective immediately until April 2026. This partnership builds on Stifel's sponsorship of the U.S. Alpine Ski Team, established in October 2022. Stifel will now sponsor the Cross Country, Freestyle, and Freeski Teams, increasing financial support for events, coaching, and travel. Major events under the “Stifel U.S. Ski Series” will also attract Stifel’s sponsorship. The partnership aims to enhance support for athletes as they prepare for upcoming competitions, including the 2026 Olympics.

Stifel Financial Corp. (NYSE: SF) reported on March 23, 2023, selected operating results as of February 28, 2023. Total client assets decreased to $401.3 billion, down 3% year-over-year, reflecting equity market declines. Despite this, the firm experienced strong net new asset growth and robust recruiting. Investment banking revenue is projected to drop 5-10% in Q1 2023 due to challenging market conditions. Stifel's balance sheet remains strong, attracting over $1.3 billion in bank deposits, with 85% of total deposits FDIC insured, providing assurance amid banking sector volatility.

Stifel Financial Corp. (NYSE: SF) announced on March 23, 2023, the addition of three former Silicon Valley Bank executives to enhance its venture banking services. Jake Moseley, Matt Trotter, and Ted Wilson join as Managing Directors in Stifel’s Venture Banking Group, based in San Francisco. This move underscores Stifel's commitment to supporting growth companies and the innovation ecosystem. Together with existing leadership, they aim to provide comprehensive banking and financial solutions. Moseley brings 20 years of experience with technology and life sciences; Trotter focuses on disruptive technologies; and Wilson specializes in enterprise software and financing.

Stifel Financial Corp. (NYSE: SF) announced the successful acquisition of Torreya Partners LLC, enhancing its global healthcare capabilities. This strategic move consolidates Stifel's position as a leading healthcare franchise and aims to improve cross-border investment banking services across North America, Europe, and Asia. Torreya, known for its expertise in life sciences, including biotechnology and pharmaceuticals, joins Stifel to provide comprehensive advisory services, including M&A, divestitures, and capital raising. The combined team has experience in approximately 700 M&A transactions since 2010, bolstering Stifel’s market presence significantly.

Stifel Financial Corp. (NYSE: SF) released selected operating results for January 31, 2023, highlighting key metrics that reflect ongoing business performance. Total client assets stood at $407.8 billion, representing a 5% year-over-year increase, driven by market appreciation and successful advisor recruitment. However, fee-based client assets decreased by 4% from the previous year. The CEO stated that while client deposits remain stable, challenges persist within the Institutional Group's operational environment, although transactional and investment banking performance met prior expectations. The report suggests that earnings correlation cannot be assumed from this data.

Stifel Financial Corp. (NYSE: SF) announced the launch of an Agency Structured Products Group aimed at enhancing its offerings in agency commercial mortgage-backed securities (ACMBS). The group, based in New York, will focus on purchasing and securitizing Ginnie Mae project loans and underwriting for government-sponsored enterprises and the U.S. Small Business Administration. Industry veterans Karen Cady and Russell McKay, both former Credit Suisse executives, have been appointed as Co-Heads. The initiative reflects Stifel’s commitment to expanding its fixed income product capabilities and improving client services.

Stifel Financial Corp. (NYSE: SF) reported the successful recruitment of 23 financial advisors in 2022, amassing over $2.53 billion in client assets, raising total assets under management to over $6 billion. The firm's independent contractor broker-dealer, Stifel Independent Advisors, is focused on enhancing diversity within its advisor network. CEO Alex David highlighted the firm's commitment to inclusivity, noting that over 40% of client assets are managed by women and underrepresented minority groups. This recruitment surge underscores Stifel's appeal as a preferred choice for elite wealth management teams.

Stifel Financial Corp. (NYSE: SF) reported net revenues of $1.1 billion for Q4 2022, down from $1.3 billion a year ago. Net income available to common shareholders was $167.3 million ($1.43 per diluted share), compared to $252.1 million ($2.12) in Q4 2021. For the full year, net revenues totaled $4.4 billion, down from $4.7 billion in 2021, with net income of $624.9 million ($5.32 per share). Despite a challenging market, the company achieved a 20% increase in its quarterly dividend and saw record net interest income, up 79%. The company also recruited 152 financial advisors in 2022, enhancing its growth prospects.

Stifel Financial Corp. (NYSE: SF) has declared a cash dividend of $0.36 per share on its common stock, payable on March 15, 2023, to shareholders on record by March 1, 2023. Additionally, it announced quarterly dividends for its preferred stock, including Series B at approximately $390.625 per share, Series C at $382.8125 per share, and Series D at $281.250 per share, all payable on March 15, 2023. The preferred stocks trade under the symbols SF PrB, SF PrC, and SF PrD.