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Stifel Financial Corp. - SF STOCK NEWS

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.

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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.

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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.

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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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Stifel Financial Corp. (NYSE: SF) announced that Jeff Markham, a veteran wealth management executive, has joined their broker-dealer subsidiary, Stifel, Nicolaus & Company, as Managing Director. Markham will contribute to the firm's growth strategy and serve on the Global Wealth Management operating committee. He joins Stifel from Merrill Lynch, where he held various leadership roles over 35 years, including Vice Chair of Merrill Wealth Management and Division Executive for the West Division. Stifel's executives, Ron Kruszewski and Jim Zemlyak, expressed enthusiasm about this strategic hire, emphasizing the firm's growth and appeal to top talent in the industry.

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On June 12, 2024, Stifel Financial Corp. (NYSE: SF) and Lord Abbett announced the formation of SBLA Private Credit, a new leveraged lending joint venture. SBLA Private Credit aims to enhance market presence, origination, and scale by focusing on new and existing loans to small and mid-sized portfolio companies. This collaboration combines Stifel's robust direct lending capabilities and Lord Abbett's leveraged credit presence to offer a comprehensive suite of private credit solutions. The venture will be managed by senior representatives from both firms, reflecting their strong and aligned credit cultures. Both firms have already co-invested in multiple loans, highlighting their commitment to this strategic partnership.

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Stifel Financial Corp. (NYSE: SF) and Marex Group plc (NASDAQ: MRX) announced a prime brokerage services referral partnership on May 28, 2024. This collaboration will enable Stifel's institutional clients to access Marex's trading and execution services, including multi-asset-class custody, financing, securities lending, and capital introduction. Conversely, Marex's clients will benefit from Stifel's award-winning research, banking, and corporate access offerings. The partnership aims to leverage both firms' strengths to better serve their hedge fund and investment management clients, extending their global reach and enhancing client service.

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Stifel Financial Corp. (NYSE: SF) reported its operating data for April 2024 on May 23, 2024. Total client assets grew by 12% year-over-year to $454 billion, and fee-based client assets increased by 15% to $171 billion. However, both metrics declined by 3% from March 2024 due to a downturn in equity markets. Client money market and insured product balances decreased by 2%, influenced by seasonal tax payments. Notably, total bank loans rose by 2% in April, driven by the fund banking business. These figures provide insights into the company's performance but should not be directly correlated with earnings.

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Stifel Financial Corp. (NYSE: SF) has signed a multiyear agreement to sponsor The Tewaaraton Award, honoring the nation's top male and female college lacrosse players. This sponsorship is part of Stifel's expanding sports partnerships, including golf and soccer. The winners of The Tewaaraton Award will be chosen by selection committees of premier college coaches and announced on May 30 at The Tewaaraton Ceremony in Washington, D.C.

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Stifel Financial Corp. (NYSE: SF) declared a $0.42 per share common stock cash dividend payable on June 17, 2024, to shareholders of record on June 3, 2024. They also declared quarterly cash dividends on their Series B, C, and D preferred stocks. The dividends are payable on June 17, 2024, to shareholders of record on June 3, 2024.

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Stifel Financial Corp. reported strong first quarter 2024 results with net revenues of $1.2 billion, a 9% increase year-over-year, and net income of $154.3 million. Non-GAAP net income was $163.3 million. The company highlighted record Global Wealth Management revenue, strong Institutional Group performance, and a credit rating upgrade to BBB. Expenses were well managed, with a focus on expense discipline. Stifel remains cautiously optimistic for the rest of 2024.
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FAQ

What services does Stifel Financial Corp. offer?

Stifel Financial Corp. provides brokerage, trading, investment banking, investment advisory, and related services to a diverse clientele including individual investors and businesses.

Where is Stifel Financial Corp. headquartered?

Stifel Financial Corp. is headquartered in St. Louis, Missouri.

How many financial advisors does Stifel employ?

Stifel employs approximately 2,100 financial advisors, ranking as the 6th largest brokerage firm in the U.S. by the number of advisors.

What percentage of Stifel's revenue comes from Global Wealth Management?

Approximately 60% of Stifel's net revenue is derived from its Global Wealth Management division.

Who are some of Stifel's notable subsidiaries?

Notable subsidiaries of Stifel include Century Securities Associates, Inc. and KBW (Keefe, Bruyette & Woods).

How did Stifel perform financially in the third quarter of 2023?

Stifel reported net revenues of $1.0 billion for the third quarter of 2023, with net income available to common shareholders at $58.8 million.

What recent recognition has Stifel received?

Stifel, along with its subsidiary KBW, was recognized for 'Reopening the IPO Market and Taking More Companies Public Than its Competitors'.

How can I contact Stifel's Investor Relations?

Stifel's Investor Relations can be contacted through Joel Jeffrey, Senior Vice President, at (212) 271-3610 or investorrelations@stifel.com.

Has Stifel been involved in any high-profile IPOs recently?

Yes, Stifel served as a bookrunner on several high-profile IPOs, including those of Mach Natural Resources, Neumora Therapeutics, and Cava Group.

What is the historical significance of Stifel Financial Corp.?

Founded in 1890, Stifel has grown to become a premier financial services firm with a significant impact on brokerage, trading, and investment banking in the U.S.

Stifel Financial Corp.

NYSE:SF

SF Rankings

SF Stock Data

8.68B
102.46M
3.21%
85.13%
1.44%
Investment Banking and Securities Dealing
Finance and Insurance
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United States of America
ST. LOUIS