Stifel Fin Corp Stock Price, News & Analysis

Stifel Financial Corp. (NYSE: SF) provided key performance metrics as of November 30, 2022. The Wealth Management business showed resilience with a 2.1% increase in client cash balances and strong client asset growth—4.5% in total assets and 4.7% in fee-based assets. However, challenges persist with expected lower Advisory revenue due to transaction closing delays and reduced activity in the fixed income sector. Total client assets stood at $399.6 billion, reflecting a 5.3% year-over-year decline. Despite these headwinds, Stifel remains optimistic about its Institutional Group's performance.

Stifel Financial Corp. (NYSE: SF) has signed a definitive agreement to acquire Torreya Partners LLC, a prominent independent M&A and advisory firm for the life sciences sector. Founded in 2007, Torreya specializes in biotechnology and pharmaceuticals, bolstering Stifel's position in healthcare. With over 40 professionals across key global markets, the acquisition aims to enhance Stifel's capabilities in complex deals. The transaction's terms are undisclosed, yet it is expected to solidify Stifel's leadership in the healthcare advisory landscape.

Stifel Financial Corp. (NYSE: SF) reported selected operating results as of October 31, 2022, emphasizing a 5% increase in client assets and fee-based assets attributed to financial advisor recruitment and equity market appreciation. Despite a 10% decline in total client assets compared to the previous year, the company successfully retained its deposit base and attracted new cash balances. CEO Ronald Kruszewski noted ongoing challenges for the Institutional Group, with quarterly revenues being influenced by market conditions and advisory transaction timing.

Stifel Financial Corp. (NYSE: SF) has declared a cash dividend of $0.30 per share, payable on December 15, 2022, to shareholders of record by December 1, 2022. Additionally, the Board announced quarterly cash dividends for its preferred stocks: $0.390625 per share for Series B, $0.3828125 for Series C, and $0.281250 for Series D, also payable on December 15, 2022. These dividends reflect Stifel's commitment to returning value to shareholders while maintaining its financial strength.

Stifel Financial (NYSE:SF) has entered a significant partnership with U.S. Ski & Snowboard, becoming the title sponsor of the U.S. Alpine Team. This collaboration encompasses all elite levels of alpine ski racing in North America, supporting athletes like Mikaela Shiffrin and Ryan Cochran-Siegle. The partnership includes a career and financial education program for athletes and sponsorship of major events, including the men's FIS Alpine Ski World Cup. Stifel's commitment strengthens their brand visibility and support for young athletes progressing to international competitions.

Stifel Financial Corp. (NYSE: SF) announced the addition of Catlett/Godin Wealth Management to its broker-dealer subsidiary in Wilmington, North Carolina. The team, previously from UBS, manages $320 million in client assets and consists of Sam Catlett, Todd Godin, and Adrieanna Piantedosi. The transition highlights Stifel's commitment to client relationships and its ability to provide comprehensive services. Stifel continues its expansion in North Carolina, signaling growth and a strategic focus on enhancing client service.

Stifel Financial Corp. (NYSE: SF) reported net revenues of $1.0 billion for Q3 2022, down from $1.1 billion last year. Net income fell to $141.8 million or $1.21 per share, compared to $182.7 million or $1.54 per share in Q3 2021. A record net interest income of $242.2 million contributed significantly, up 85% year-over-year. The company maintained a 21% return on tangible common equity. Notably, Global Wealth Management achieved its seventh record quarter, while the Institutional Group faced a 40% decline in investment banking revenues. The quarterly dividend was set at $0.30 per share.

Stifel Financial Corp. (NYSE: SF) will announce its Q3 2022 financial results on October 26, 2022, prior to market opening. A conference call will follow at 9:30 a.m. ET, featuring insights from Chairman and CEO Ronald J. Kruszewski. Interested listeners can join by calling (888) 256-1007 with participant ID 8617839. The call will be accessible via a live audio webcast on Stifel’s official website, where a replay will also be available post-event.

Stifel Financial Corp. (NYSE: SF) has expanded its operations by opening a new office in Athens, Georgia. The Ferguson Wealth Advisory Group, led by Richard "Dick" Ferguson, joins Stifel's Private Client Group, bringing nearly 35 years of investment experience. The group previously managed $320 million in client assets at Raymond James. Stifel's leadership aims to leverage Dick's expertise and the group's client-centric approach to enhance their service offerings in Georgia, emphasizing a culture focused on advisors and minimal bureaucracy.