Stifel Financial Earnings: Profit Rises Year-Over-Year

Stifel Financial Corporation (NYSE:SF) reported its results for the first quarter. Stifel Financial, through its wholly-owned subsidiaries, is primarily engaged in financial services such as retail brokerage, securities trading, investment banking, investment advisory, retail, and consumer and commercial banking.

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Stifel Financial Earnings Cheat Sheet for the First Quarter

Results: Net income for Stifel Financial Corporation rose to $34.8 million (55 cents per share) vs. $31.4 million (50 cents per share) in the same quarter a year earlier. This marks a rise of 10.7% from the year-earlier quarter.
Revenue: Revenue was $400.3 million last quarter.

Actual vs. Wall St. Expectations: Stifel Financial Corporation beat the mean analyst estimate of 53 cents per share. It beat the average revenue estimate of $381.1 million.

Quoting Management: “The first quarter of 2012 proved to be our second best quarter in terms of net revenues, net income and diluted EPS. The overall improvement in the economy positively impacted both our Global Wealth Management and Institutional Group’s businesses during the quarter, particularly in investment banking and fixed income trading. During the quarter, we continued to expand our retail platform as a result of successful recruiting of financial advisors,” commented Ronald J. Kruszewski, Chairman, President and CEO of Stifel Financial.

Key Stats:
The company beat estimates last quarter after meeting expectations in the fourth quarter of the last fiscal year with net income of 43 cents per share.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 60 cents a share to 58 cents over the last ninety days. For the fiscal year, the average estimate has moved down from $2.45 a share to $2.41 over the last ninety days.

Competitors to Watch: Oppenheimer Hldgs. Inc., Raymond James Financial, Inc., Siebert Financial Corp., Ladenburg Thalmann Financial Services, National Holdings Corp., Rodman & Renshaw Capital Group Inc., Morgan Stanley, TD Ameritrade Holding Corp., Goldman Sachs Group, Inc., and Knight Capital Group Inc.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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