Stifel Financial Corp. Reports Operating Results (10-K)
Stifel Financial Corp. has a market cap of $2.54 billion; its shares were traded at around $72.11 with a P/E ratio of 22.53 and P/S ratio of 1.84. Stifel Financial Corp. had an annual average earning growth of 26.5% over the past 10 years. GuruFocus rated Stifel Financial Corp. the business predictability rank of 3-star.Mutual Fund and Other Gurus that owns SF: Chuck Royce of Royce& Associates, Kenneth Fisher of Fisher Asset Management, LLC.
Highlight of Business Operations: In April 2007, we completed the acquisition of First Service, a St. Louis-based full-service bank, which now operates as Stifel Bank & Trust and is reported in the Global Wealth Management segment. Since the closing of the bank acquisition, we have grown retail and commercial bank assets from $145.6 million on acquisition date to $1.8 billion at December 31, 2010. Through Stifel Bank, we offer retail and commercial banking services to private and corporate clients, including personal loan programs, such as fixed and variable mortgage loans, home equity lines of credit, personal loans, loans secured by CDs or savings, automobile loans, and securities-based loans, as well as commercial lending programs, such as small business loans, commercial real estate loans, lines of credit, credit cards, term loans, and inventory and receivables financing, in addition to other banking products. We believe this acquisition will not only help us serve our private clients more effectively by offering them a broader range of services, but will also enable us to better utilize our private client cash balances.
Further expand our private client footprint in the U.S. We have expanded the number of our private client branches from 39 at December 31, 1997 to 285 at December 31, 2010, and our branch-based financial advisors from 262 to 1,775 over the same period. In addition, assets under management have grown from $11.7 billion at December 31, 1997 to $110.6 billion at December 31, 2010. Through organic growth and acquisitions, we currently have a strong footprint nationally, concentrated in the Midwest and Mid-Atlantic regions, with a growing presence in the Northeast, Southeast, and Western United States. Over time, we plan to further expand our domestic private client footprint. We plan on achieving this through recruiting experienced financial advisors with established client relationships and continuing to selectively consider acquisition opportunities as they may arise.
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