Welcome to our dedicated page for Stifel Fin news (Ticker: SF), a resource for investors and traders seeking the latest updates and insights on Stifel Fin stock.
Stifel Financial Corp. (NYSE: SF) is a financial services holding company in the investment banking and securities dealing industry, with operations centered on wealth management, banking, and capital markets. Its news flow reflects activity across Global Wealth Management, the Institutional Group, and banking subsidiaries such as Stifel Bank and Stifel Bank & Trust.
On this page, readers can follow SF news related to monthly operating data, quarterly earnings, capital markets activity, and corporate actions. Recent press releases have covered selected operating results for specific month-ends, highlighting total client assets, fee-based client assets, bank loans, client money market and insured product balances, and treasury deposits. These updates provide insight into trends in client assets, funding mix, and lending.
Stifel also issues news on quarterly financial results, detailing net revenues, segment performance in Global Wealth Management and the Institutional Group, and metrics such as advisory revenues, equity and fixed income capital raising, and transactional revenues. Other announcements include conference calls to discuss results, participation in industry conferences, and dividends on common and preferred stock.
Investors and market watchers can also see news about strategic initiatives and transactions, such as the agreement for an affiliate of Equitable Holdings to acquire Stifel Independent Advisors, LLC, and the expansion of Stifel’s Venture Banking team to support life sciences and healthcare companies. Subsidiary-level developments, like hiring at 1919 Investment Counsel, LLC, also appear in the news stream.
By reviewing the SF news feed, users can track how Stifel communicates changes in client assets, capital markets activity, venture and fund banking, and corporate structure over time, and can revisit archived releases for historical context.
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.
Stifel Financial Corp. (NYSE: SF) and Korea Investment & Securities have announced the formation of a new joint venture named SF Credit Partners to expand their leveraged lending capabilities. This collaboration aims to leverage the strengths of both firms and enhance financial solutions for clients in the U.S. market. Stifel's CEO emphasized the importance of this partnership in increasing capital commitment and improving lending options. The venture is pending regulatory approvals but represents a significant step in Stifel's growth strategy and KIS's ambitions in the U.S.
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.
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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.