Stifel Fin Corp Stock Price, News & Analysis

Stifel Financial Corp. (NYSE: SF) announced the rehiring of Jonathan Knepper and Edward Osswalt as Managing Directors in its Fixed Income Capital Markets Group.

Knepper will focus on high yield and distressed sales, while Osswalt will manage crossover trading. Knepper has over 30 years of experience and previously worked at Mizuho Securities USA, while Osswalt has over 16 years of experience, also coming from Mizuho. Their return aims to enhance Stifel’s capabilities and client relationships in fixed income.

Stifel Financial Corp. (NYSE: SF) announced the addition of Daybreak Financial Group to its broker-dealer subsidiary, Stifel, Nicolaus & Company, in New York City. The team, consisting of Raymond and Dominick Minicucci, has managed $407 million in client assets and brings 66 years of combined investment experience. They appreciate Stifel's entrepreneurial culture and flat organizational structure, which allows for quick access to resources and improved client service. Stifel's management emphasized that their growth-oriented approach continues to attract successful advisors.

Stifel Financial Corp. (NYSE: SF) has appointed Jim Kavanaugh as a member of its Board of Directors, effective August 2, 2022. Kavanaugh, the Co-Founder and CEO of World Wide Technology, brings extensive experience and leadership qualities to the board. WWT, under his guidance, has achieved significant success, being recognized as a top workplace for 11 consecutive years. Kavanaugh's previous accolades include being named one of America's best CEOs in 2021. His appointment is expected to enhance the board's effectiveness and community engagement.

Stifel Financial Corp. (NYSE: SF) declared a quarterly cash dividend of $0.30 per share on common stock, payable on September 15, 2022, to shareholders of record on September 1, 2022. Additionally, dividends were declared for the Series B, C, and D Non-Cumulative Perpetual Preferred Stocks, amounting to approximately $0.390625, $0.3828125, and $0.281250 per depositary share, respectively. These preferred stock dividends are for the period ending September 15, 2022. This announcement reflects Stifel's commitment to returning value to shareholders.

Turning Rock Partners has successfully closed its second fund, raising approximately $475M, exceeding its target. Strong support came from a diverse group of investors, including public pension plans and insurance companies. With a total of over $900M raised to date, the firm focuses on structured debt, equity, and hybrid investments for small and mid-cap businesses in North America. As of August 1, 2022, TRP employs 15 full-time staff and is recognized as a majority woman-owned business.

Stifel Financial Corp. (NYSE: SF) announced the addition of The Power Wealth Management Team from Merrill Lynch to its broker-dealer subsidiary in Frontenac, Missouri, managing $420 million in client assets. Team members include Barry Power, CFP®, Managing Director/Investments, Ben Alsop, Financial Advisor, and two Client Service Associates. Barry Power stated that Stifel will enhance their ability to serve clients. Branch Manager Rick Murphy noted that the team's integration will provide additional capabilities and improved service to clients.

Stifel Financial Corp. (NYSE: SF) reported net revenues of $1.1 billion for Q2 2022, down from $1.2 billion in Q2 2021. Net income available to common shareholders decreased to $151.5 million, or $1.29 per diluted share, compared to $189.8 million, or $1.60 per diluted share a year earlier. The firm achieved record net interest income, up 64%, and recruited 41 financial advisors. Although total client assets decreased by 6% to $377.6 billion, Stifel reported a strong annualized return on tangible common equity (ROTCE) of 22%. The company remains poised for growth despite volatile market conditions.

Stifel Financial Corp. (NYSE: SF) will announce its Q2 2022 financial results before the market opens on July 27, 2022. A conference call at 9:30 a.m. ET will be hosted by Chairman and CEO Ronald J. Kruszewski, which will include forward-looking statements. Interested parties can participate by dialing (888) 504-7949 with ID 238986. A live audio webcast and presentation will be available on Stifel's website for those unable to attend the live call. Replays will be accessible approximately one hour after the conclusion of the call.