Welcome to our dedicated page for Siebert Financial news (Ticker: SIEB), a resource for investors and traders seeking the latest updates and insights on Siebert Financial stock.
Siebert Financial Corp. reports developments across a diversified financial-services business centered on brokerage, advisory, custody, clearing and capital markets activities. Company news commonly covers financial results, principal transaction activity, stock borrow and stock loan revenue, advisory fees, investment banking expansion and product initiatives for retail and institutional clients.
Recurring updates also address Siebert.Pro for active self-directed investors, strategic collaborations tied to digital wealth management, AI-enabled investor tools and international market commentary, and newer revenue areas in media, sports and entertainment, including NIL negotiation services. Partnership announcements and brand initiatives reflect the company's efforts to broaden distribution and content around financial education and market insight.
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.
Siebert Financial Corp. (NASDAQ: SIEB) has announced the hiring of Anthony Palmeri and Jerry Losurdo to lead its Securities Finance Group at Muriel Siebert & Co., Inc. The new leaders bring a combined 75 years of experience from JPMorgan Chase & Co. and TD Prime Services. Palmeri expressed excitement about expanding the division's potential, while Losurdo highlighted Siebert's entrepreneurial spirit. Additionally, each was issued 150,000 shares of restricted common stock as part of their employment agreements, with a value of approximately $400,000 each, tied to the company's growth strategy.
On July 21, 2020, Siebert Financial Corp. (NASDAQ: SIEB) announced the integration of Carver Edison's Cashless Participation™ technology into its stock plan services. This innovative feature allows employees to increase their company stock ownership by 50% to 150% without additional payroll deductions. Siebert aims to enhance employee ownership and deliver value to shareholders. The partnership reflects Siebert's commitment to fulfilling the legacy of Muriel Siebert, promoting financial inclusion and philanthropic initiatives related to the technology.