Stifel Fin Corp Stock Price, News & Analysis

Stifel Financial Corp. (NYSE: SF) announced the appointments of Maryam Brown and Lisa Carnoy to its Board of Directors, effective April 26, 2023. Maryam Brown, currently President of SoCalGas, brings over 25 years of energy industry experience, including roles in engineering, legal, and policy. Lisa Carnoy, a seasoned financial executive, previously served as CFO at AlixPartners and held senior positions at Bank of America Merrill Lynch. Both appointments are seen as a strategic move to enhance the Board's expertise.

Chairman Ronald J. Kruszewski expressed confidence in their contributions, highlighting the unique perspectives they will bring to the firm. Stifel, headquartered in St. Louis, Missouri, operates through various subsidiaries, offering services like securities brokerage and investment banking.

Stifel Financial Corp. (NYSE: SF) reported net revenues of $1.1 billion for Q1 2023, matching the same period last year. However, net income available to common shareholders saw a decline to $148.2 million ($1.28 per diluted share) from $164.2 million ($1.39 per diluted share) in Q1 2022. Non-GAAP net income was $161.3 million ($1.40 per diluted share). Notably, net interest income surged by 90% year-over-year to $140.6 million, driven primarily by higher interest rates. The firm also recruited 49 financial advisors during the quarter. However, the Institutional Group's revenues fell 23% to $332.6 million, attributed to lower advisory transactions and market conditions. The company maintained a conservative approach, exemplified by a pre-tax margin of 20.5% and a return on tangible common equity of 20%.

Stifel Financial Corp. (NYSE: SF) is set to announce its first quarter 2023 financial results on April 26, 2023, before the market opens. A conference call will be held at 9:30 a.m. Eastern time to discuss these results, which may include forward-looking statements. Interested parties can participate by calling (866) 409-1555, using participant ID 4717221. The call will also feature a live audio webcast, along with a presentation of the results, available on Stifel's website. A replay of the call will be accessible an hour after its completion.

Stifel Financial Corp. provides a wide array of financial services through various subsidiaries, including brokerage, investment banking, and lending solutions.

U.S. Ski & Snowboard announced an expanded partnership with Stifel Financial Corp. (NYSE:SF), becoming the official Team Naming Partner for all ski teams, effective immediately until April 2026. This partnership builds on Stifel's sponsorship of the U.S. Alpine Ski Team, established in October 2022. Stifel will now sponsor the Cross Country, Freestyle, and Freeski Teams, increasing financial support for events, coaching, and travel. Major events under the “Stifel U.S. Ski Series” will also attract Stifel’s sponsorship. The partnership aims to enhance support for athletes as they prepare for upcoming competitions, including the 2026 Olympics.

Stifel Financial Corp. (NYSE: SF) reported on March 23, 2023, selected operating results as of February 28, 2023. Total client assets decreased to $401.3 billion, down 3% year-over-year, reflecting equity market declines. Despite this, the firm experienced strong net new asset growth and robust recruiting. Investment banking revenue is projected to drop 5-10% in Q1 2023 due to challenging market conditions. Stifel's balance sheet remains strong, attracting over $1.3 billion in bank deposits, with 85% of total deposits FDIC insured, providing assurance amid banking sector volatility.

Stifel Financial Corp. (NYSE: SF) announced on March 23, 2023, the addition of three former Silicon Valley Bank executives to enhance its venture banking services. Jake Moseley, Matt Trotter, and Ted Wilson join as Managing Directors in Stifel’s Venture Banking Group, based in San Francisco. This move underscores Stifel's commitment to supporting growth companies and the innovation ecosystem. Together with existing leadership, they aim to provide comprehensive banking and financial solutions. Moseley brings 20 years of experience with technology and life sciences; Trotter focuses on disruptive technologies; and Wilson specializes in enterprise software and financing.

Stifel Financial Corp. (NYSE: SF) announced the successful acquisition of Torreya Partners LLC, enhancing its global healthcare capabilities. This strategic move consolidates Stifel's position as a leading healthcare franchise and aims to improve cross-border investment banking services across North America, Europe, and Asia. Torreya, known for its expertise in life sciences, including biotechnology and pharmaceuticals, joins Stifel to provide comprehensive advisory services, including M&A, divestitures, and capital raising. The combined team has experience in approximately 700 M&A transactions since 2010, bolstering Stifel’s market presence significantly.