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%.
Stifel Financial Corp. (NYSE: SF) is set to announce its first quarter 2023 financial results on April 26, 2023, before the market opens. A conference call will be held at 9:30 a.m. Eastern time to discuss these results, which may include forward-looking statements. Interested parties can participate by calling (866) 409-1555, using participant ID 4717221. The call will also feature a live audio webcast, along with a presentation of the results, available on Stifel's website. A replay of the call will be accessible an hour after its completion.
Stifel Financial Corp. provides a wide array of financial services through various subsidiaries, including brokerage, investment banking, and lending solutions.
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.
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