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Stifel Financial Corporation (SF)

  • Mon, Feb. 23, 4:48 PM
    • The deal values Sterne Agee at about $150M, and consideration will be a combination of SF stock and cash. The range of stock to be issued will be 1.42M-1.62M shares, and the range of cash $66M-$77M.
    • The purchased businesses are expected to generate about $300M-$325M in gross annual revenue and be accretive to shareholder value once fully integrated.
    • CEO Ronald Kruszewski: "This acquisition furthers our goal of creating a balanced, well-diversified business mix with wealth management and institutional exposure."
    • Source: Press Release
    • Previously: Stifel confirms purchase of Sterne Agee (Feb. 23)
    • Shares +6.9% after hours
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  • Fri, Feb. 20, 9:27 AM
    • In what would be a combination of two of the larger U.S. brokerages outside of NYC, Stifel Financial (NYSE:SF) is in talks to purchase Sterne Agee, reports Bloomberg.
    • It would be the latest deal for Stifel CEO Ron Kruszewski, who has snapped up KBW, Thomas Weisel Partners, and a bond-trading business from Knight Capital in the past few years. When Kruszewski took over in 1997, Stifel had 733 employees and annual revenue of $136M. Today it has over 6K workers and more than $2B in revenue.
    • Shares +1.9% premarket
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  • Jun. 4, 2014, 7:19 AM
    • Legg Mason Investment Counsel & Trust (LM) provides customized investment advisory and trust services to individuals and institutions, and has more than $9B in AUM. It will be integrated into Stifel's (SF) Global Wealth Management segment.
    • Terms of the deal weren't announced and it's expected to close this fall.
    • Legg Mason chief Joseph Sullivan: "This transaction continues to evolve our investment affiliate lineup toward fewer and larger firms that can be better leveraged through our global distribution platform."
    • LM +7% premarket
    • Source: Press Release
    | 1 Comment
  • Feb. 24, 2014, 5:06 PM
    • Stifel Financial Corporation (SF): Q4 EPS of $0.79 beats by $0.12.
    • Revenue of $562.5M (+36.8% Y/Y) beats by $21.25M.
    • Shares +3.9% AH.
    • Press Release
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  • Feb. 3, 2014, 3:33 PM
    • Stifel Financial (SF -4.2%) continues to slide inline with the rest of the brokerage names two days after boosting its California underwriting business with an agreement to acquire De La Rosa & Co. The combined firms will rank as the #1 underwriter in a number of areas: K-12, COP & Lease Revenue Bonds, Tax Increment, and Economic Development.
    • Terms were not disclosed.
    • Press release
    • Others in the sector today: BCG Partners (BGCP -4.4%), AllianceBernstein (AB -5.4%), Ameriprise (AMP -3.5%), Raymond James (RJF -4.9%).
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  • Apr. 5, 2013, 10:21 AM
    Remember the supposed pickup in the M&A cycle, asks PAA Research, noting continued damage in the boutique investment bank sector which mostly rolled over several weeks ago. EVR -5%, GHL -2.8%, SF -3.2%, OPY -1.6%, PJC -1.7%.
    | 1 Comment
  • Nov. 5, 2012, 7:45 AM
    KBW, Inc. agrees to be acquired by Stifel Financial (SF) for $17.50/share ($10 cash and $7.50 in SF stock). The total transaction value is more than $575M and about $250M in excess capital on KBW's balance sheet will be available to Stifel upon closing. KBW +17.5% premarket. (PR)
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  • Jan. 9, 2012, 8:21 AM
    Regions Financial (RF) +1.8% premarket after WSJ reported over the weekend that the bank is close to a deal to sell its Morgan Keegan investment banking and brokerage unit for ~$1B. The price would be much less than the bank had once expected, and it isn't clear which of the reported bidders, Raymond James (RJF) or Stifel Financial (SF), is the favorite.
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  • Nov. 17, 2011, 3:57 PM
    Stifel Financial (SF +2.6%), which may be closing in on buying Morgan Keegan, is initiated at Raymond James at Outperform with a $38 price target, espousing the stability of Stifel's retail advisory foundation and limited risk-taking, which "isn't nearly as sensitive to the threat of a European financial system collapse or a double-dip recession in the U.S."
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Company Description
Stifel Financial Corp through its wholly owned subsidiaries, is engaged in retail brokerage; securities trading; investment banking; investment advisory; retail, consumer, and commercial banking; and related financial services.