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 reported strong Q3 2024 results with net revenues of $1.2 billion, up 17% from Q3 2023. Net income available to common shareholders reached $149.2 million, or $1.34 per diluted share, compared to $58.8 million ($0.52/share) in Q3 2023. Investment banking revenues surged 66%, while asset management revenues hit record levels, up 15%. The company's client assets grew 20% to $496.3 billion. Global Wealth Management achieved record revenues of $827.1 million, and the Institutional Group reported net revenues of $372.4 million with pre-tax income of $41.8 million.
Stifel Financial Corp. (NYSE: SF) has announced the schedule for its third quarter 2024 financial results release and conference call. The company will release its Q3 2024 financial results before the market opens on Wednesday, October 23, 2024. Following the release, Stifel will host a conference call at 9:30 a.m. Eastern time on the same day to review the results. This call may include forward-looking statements, which could provide insights into the company's performance and future outlook.
Stifel Financial Corp. (NYSE: SF) has released its operating results for August 31, 2024. The report shows total client assets increased by 15% and fee-based assets grew by 20% compared to the same period last year. This growth is attributed to successful recruiting efforts and market appreciation. Client money market and insured product balances saw a 1% month-on-month increase, driven by growth in Smart Rate and Sweep balances.
CEO Ronald J. Kruszewski stated that the company anticipates stronger investment banking revenue in the second half of the year compared to the first half, as activity levels increase. However, he noted that both the timing of deal closings and market volatility continue to impact revenue. The report also indicates that bank loans remained relatively stable compared to the previous year and month.
Stifel Financial Corp. (NYSE: SF) reported record levels of client assets under administration and fee-based client assets for July 31, 2024, reaching $481 billion and $183 billion respectively, a 2% increase from the previous month. The growth was attributed to market appreciation and solid recruiting. Client money market and insured products grew by approximately $100 million in July, with higher Smart Rate balances offsetting a decline in Sweep balances. Bank loans increased by 2%, driven by growth in Fund Banking, C&I, and Residential Mortgage activity. The company's total client assets saw a 13% year-over-year increase, while fee-based client assets grew by 16% compared to the previous year.
Stifel Financial Corp. (NYSE: SF) has announced quarterly cash dividends for its common and preferred stocks. The common stock dividend is $0.42 per share, payable on September 17, 2024, to shareholders of record as of September 3, 2024. For preferred stocks, the dividends are:
- Series B: $0.390625 per depositary share ($390.625 per share)
- Series C: $0.3828125 per depositary share ($382.8125 per share)
- Series D: $0.281250 per depositary share ($281.250 per share)
These preferred stock dividends cover the period from June 17, 2024, to September 17, 2024, and are also payable on September 17, 2024, to shareholders of record on September 3, 2024.
Stifel Financial Corp. (NYSE: SF) reported strong Q2 2024 results, with net revenues of $1.2 billion, up from $1.1 billion a year ago. Net income available to common shareholders rose to $156.0 million ($1.41 per diluted share), compared to $125.0 million ($1.10 per diluted share) in Q2 2023. Non-GAAP net income was $176.6 million ($1.60 per diluted share).
Highlights include:
- Record asset management revenues, up 19% year-over-year
- Advisory revenues increased 50% year-over-year
- Capital raising revenues up 29% year-over-year
- Record client assets of $474.1 billion, up 14% year-over-year
- Non-GAAP pre-tax margin of 20.6%
- Annualized return on tangible common equity (ROTCE) of 22%
The company's strong performance was attributed to improved market conditions and the benefits of balanced businesses across segments.
Stifel Financial Corp. (NYSE: SF) has announced the schedule for its second quarter 2024 financial results release and conference call. The company will release its Q2 2024 financial results before the market opens on Wednesday, July 24, 2024. Following the release, Stifel will host a conference call at 9:30 a.m. Eastern time on the same day to review the results. This event provides an opportunity for investors and analysts to gain insights into Stifel's financial performance and discuss any forward-looking statements or guidance that may be provided during the call.
Stifel Financial Corp. (NYSE: SF) has been ranked No. 1 in the employee advisor segment of the J.D. Power 2024 U.S. Financial Advisor Satisfaction Study for the second consecutive year. Stifel's overall score was 767 out of 1,000, surpassing the employee segment average of 637 by 130 points. The firm also topped three individual categories: leadership and culture, products and marketing, and operational support, and performed well in compensation. CEO Ron Kruszewski expressed pride in the recognition, highlighting Stifel's commitment to advisor satisfaction and high performance. Stifel is the seventh largest full-service investment firm by the number of financial advisors, with over 2,300 advisors.
Stifel Financial Corp. operates through several subsidiaries, providing a wide range of financial services including securities brokerage, investment banking, trading, and investment advisory services in the U.S. and Europe. Their banking subsidiaries offer various consumer and commercial lending solutions.
Stifel Financial Corp. (NYSE: SF) announced the successful conclusion of its inaugural Women Owners' Network (WON) event, held by its subsidiary, Stifel Independent Advisors. This event aimed to promote education, networking, and professional growth among female advisors. Key participants included advisors from newly affiliated firms Stofan Agazzi Investments and Columbia Crest Financial Advisors, managing nearly $1 billion in client assets. The initiative is modeled after Stifel's Women's Initiative Network (WIN) but focuses on the unique challenges of female independent owners. The event featured notable speakers such as celebrity chef Vivian Howard and bestselling author Mary Alice Monroe. Stifel emphasized their commitment to empowering women advisors and fostering creative ideas for business continuity and growth.
Stifel Financial Corp. (NYSE: SF) reported operating results for May 31, 2024. Key highlights include a 3% increase in total client assets to $465.96 billion, up from $454.02 billion in April 2024 and $402.40 billion in May 2023. Fee-based client assets rose by 3% month-over-month to $176.46 billion. Private Client Group fee-based assets also increased by 3% to $154.54 billion. However, net bank loans decreased by 1% to $19.82 billion. Client money market and insured product levels remained flat at $26.23 billion. Stifel noted improved investment banking activity, although the timing of M&A transaction closings remains unpredictable.
Ronald J. Kruszewski, Chairman and CEO, attributed the asset growth to successful recruiting and market appreciation. The company continues to navigate a challenging environment for closing M&A transactions.
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