Siebert Finl Corp Stock Price, News & Analysis

Siebert Financial Corp. (NASDAQ: SIEB) reported a robust financial performance for the year ended December 31, 2021, with a 23% increase in revenue to $67.5 million, and a staggering 111% growth in operating income to $6.8 million. The net income rose 69% to $5.0 million, leading to an EPS increase of 60% to $0.16. The company also achieved a 30% growth in stockholder equity. Notably, Siebert made strategic investments in Tigress and Hedge Connection, enhancing its commitment to diversity and inclusion in finance.

RISE Financial Services has announced its acquisition of a 20% stake in Hedge Connection, a woman-owned FinTech platform specializing in capital introductions. Lisa Vioni, CEO of Hedge Connection, is appointed President of RISE Prime and joins RISE's Board. The collaboration aims to enhance ESG initiatives and democratize capital access for hedge fund managers using the patented Fintroz platform. This strategic move positions RISE to efficiently scale its capital introduction program, catering to institutional investors.

Siebert Financial Corp. (NASDAQ: SIEB) has successfully acquired a 12,000-square-foot office building at 653 Collins Avenue, Miami Beach, to house the primary operations of its RISE Prime division. This strategic purchase highlights Siebert's commitment to expanding its presence in the Greater Miami area, where it has been operational for three years. The new location will support its mission-driven ESG initiatives, catering to a diverse investor community and enhancing modern financial services.

Siebert Financial Corp. (NASDAQ: SIEB) has rebranded its subsidiary, WPS Prime Services, to RISE Financial Services, focusing on ESG initiatives for institutional investors. The company acquired 24% of Tigress Financial Partners, which now also owns 24% of RISE, facilitating collaboration in DEI and ESG efforts. Cynthia DiBartolo joins Siebert's Board, while Gloria E. Gebbia takes a position at Tigress, enhancing leadership diversity. This strategic move aims to modernize offerings and enhance partnerships in the financial services sector.

Siebert Financial Corp. (SIEB) reported impressive third-quarter results for 2021, highlighting a 36% increase in revenue to $17.1 million and a notable 1,095% surge in pre-tax income to $1.1 million. The pre-tax margin improved significantly to 6.7% from 0.8% in the prior year. Earnings per share grew to $0.03 compared to $0.02 in 2020. The company's total customer net worth reached $17.6 billion, up from $16.2 billion at the end of 2020, reflecting strong market conditions across various divisions.

Siebert Financial Corp. (NASDAQ: SIEB) has appointed Gateway Group, Inc. to manage its enhanced investor relations program. This partnership aims to refine corporate messaging and expand outreach, targeting institutional investors and analysts. Gloria E. Gebbia emphasized the necessity of modernizing offerings while upholding Siebert's legacy, especially following a recent alliance with Tigress Financial Partners. This strategic move is seen as timely due to strong growth, with Siebert positioning itself for further success in meeting evolving client needs.

Siebert Financial Corp. (NASDAQ: SIEB) reported a strong second quarter for 2021, achieving revenue of $16.8 million, a 33% increase year-over-year. Pre-tax income surged 291% to $1.9 million, with a pre-tax margin of 11.4% compared to 3.9% last year. Earnings per share also improved to $0.05 from $0.02. Retail customer net worth rose to $16.0 billion, up from $14.6 billion at the end of 2020. The results reflect successful strategic initiatives, particularly in the Securities Finance and Market Making divisions, which saw revenue increases of 191% and 186%, respectively.

Siebert Financial Corp. (SIEB) reported a **28% revenue increase** to **$18.9 million** in Q1 2021, compared to the same period in 2020. The operating income reached **$3.0 million**, with earnings per share of **$0.07**. The company attributed its growth to strategic acquisitions and enhanced clearing capabilities, particularly in the Securities Finance Group, which generated **$1.8 million** in revenue. Siebert also plans to expand its clearing services by Q4 2021.

Siebert Financial Corp. (NASDAQ: SIEB) reported a strong financial performance for 2020, with revenues of $54.9 million and net income of $3.0 million, marking basic and diluted earnings per share at $0.10. Significant growth was driven by WPS Prime Services, which increased revenue by 15%. The acquisition of WPS and recent hires from JPMorgan Chase & Co. are expected to enhance the Securities Finance Group. Additionally, Siebert's investment in OpenHand introduces a zero-commission trading platform, aimed at expanding its offerings for modern investors.