Stifel Fin Corp Stock Price, News & Analysis

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.

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.

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.

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.