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Mon, Feb. 23, 5:52 PM
- Of the above group, Ladenburg Thalmann (NYSEMKT:LTS) is of small enough size ($730M market cap) to easily be scooped up. Raymond James (NYSE:RJF), LPL Financial (NASDAQ:LPLA), and Waddell & Reed (NYSE:WDR) are all higher since the Stfiel purchase first leaked on Friday morning, suggesting investors for the moment aren't too concerned with Stifel's boosted firepower.
- Previously: Stifel Financial up 6.9% on Sterne Agee purchase (Feb. 23)
- Previously: Stifel Financial reportedly in talks to buy brokerage rival (Feb. 20)
Nov. 14, 2014, 8:33 AM
Nov. 10, 2014, 5:21 PM
Sep. 23, 2014, 11:02 AM
- Ladenburg Thalman (LTS +1.4%) yesterday announced an agreement to purchase Knoxville-based Securities Service Network for $45M - $25M in cash and $20M of four-year notes.
- Founded in 1983, SSN has about 450 financial advisors and roughly $13B in client assets. The business had revenue of $115M for the year ended June 30.
- Following this deal and two other pending purchases, Ladenburg's network of brokerages will have about 4K financial advisors, $125B in client assets, and revenues of $1.1B.
- Barrington boosts its price target on the Outperform-rated name to $5 from $4.25, noting the fast pace of acquisitions this year.
Aug. 11, 2014, 10:13 AM
- In news released alongside its quarterly results, Ladenburg Thalman (LTS +4.8%) agrees to the purchase of KMS Financial, a Seattle-based broker with about 325 financial advisors, $14B in client assets, and $84M in revenue.
- LTS will pay about $24M - $11M in cash, $8M in 4-year notes, and 1.44M shares of common stock.
- Upon closing of this and other pending deals, Ladenburg will have about $110B in client assets, 3.5K advisors, and $1B of annual revenues.
- Source: Press Release
- Previously: Ladenburg Thalman in high cotton
Aug. 11, 2014, 8:34 AM
- Q2 adjusted EBITDA of $13.3M up 22% from a year ago. Revenues of $220.8M up 13.9%.
- Recurring revenue - advisory fees, trailing commissions, cash sweep fees, and other fees - accounted for about 68% of revenues for the six months ending June 30.
- Commissions of $106.3M up 7.5% Y/Y. Advisory fees of $82.1M up 21.3%. Investment banking of $11.4M up 40.8%. Service fees and other income of $18.8M up 10.7%.
- Total expenses of $217.1M up 9.3%.
- A minor 871.5K shares repurchased during Q for an average price of $2.88 each and total cost of about $2.5M.
- Previously: Ladenburg Thalmann Financial EPS of $0
- LTS flat premarket
Aug. 11, 2014, 8:19 AM
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Aug. 7, 2013, 9:02 AM
Ladenburg Thalmann Financial Services Inc, through its subsidiaries, is engaged in independent brokerage and advisory services, investment banking, equity research, institutional sales and trading, asset management services and trust services.
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