ST. LOUIS (AP) — Stifel Financial Corp., a brokerage and investment banking company, said on Monday that its fourth-quarter earnings jumped 48 percent on strong revenue gains at its wealth management and institutional business segments.

The St. Louis-based company posted net income of nearly $40 million, or 63 cents per share, for the October through December period. That was up from earnings of $27 million, or 43 cents per share, in the same quarter a year ago.

Analysts surveyed by FactSet had forecast earnings of 61 cents per share, on average, in the latest quarter.

Revenue increased 17 percent to $417.8 million from $356.9 million. Analysts had been expecting $415.5 million.

Stifel Financial's largest business segment, global wealth management, recorded a nearly 14 percent revenue increase to about $255.1 million.

The company's institutional group reported a 23 percent revenue increase to nearly $165.1 million.

Stifel's two largest sources of revenue, commissions and principal transactions, posted gains of about 9 percent and 4 percent, respectively.

Revenue growth was much stronger at the company's investment banking business, which posted a 35 percent increase. Asset management and service fees revenue rose 23 percent.

Stifel announced fourth-quarter results after its shares fell 43 cents, or 1 percent, to close at $37.61.

On Feb. 15, Stifel announced it completed its previously announced acquisition of KBW in a deal that the companies valued at more than $575 million when it was announced in November. The transaction created a middle-market investment bank focused on the financial services industry.

About News.net

Publishing Services International Limited (PSIL) is the publisher and operator of a worldwide network of online news sites dedicated to delivering fair, accurate and relevant reporting from a variety of the world’s most trusted sources – from the biggest cities to the smallest towns.

We deliver positive and powerful messages to our readers, providing up‑to‑the‑second news that matters to the individual.

Our promise is to serve communities and individuals worldwide, delivering information that hasn’t always been available to them. We will give them back a voice – a voice that’s empowering because it is theirs – and provide a platform to communicate between themselves and the world.

We believe people are not just generic demographics; they are individuals with their own preferences and curiosities. We are about understanding these individuals, listening to them, and serving them.

We are the new pioneering spirit of news – we’re not talking to everyone, we’re talking with every one.

If you want your news, your voice, your way, on your time – we’ve got news for you.

 

FAQs

Email

If you have any questions or concerns please email us on support@news.net

Phone

  • Australia, Toll Free 1-800-983-421
  • Hong Kong, Toll Free 800-906-187
  • Singapore, Toll Free 800-852-3871
  • USA/Canada, Toll Free 1-800-830-4132

Advertise With Us

Interested in being awesome?
Contact us by email or phone.

Cancel