NYSE:SF

Stock Analysis Report

Executive Summary

Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States, the United Kingdom, rest of Europe, and Asia.


Snowflake Analysis

Proven track record and fair value.


Similar Companies

Share Price & News

How has Stifel Financial's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SF has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-15.6%

SF

-8.6%

US Capital Markets

-10.6%

US Market


1 Year Return

1.6%

SF

4.9%

US Capital Markets

5.2%

US Market

Return vs Industry: SF underperformed the US Capital Markets industry which returned 8.9% over the past year.

Return vs Market: SF underperformed the US Market which returned 10.2% over the past year.


Shareholder returns

SFIndustryMarket
7 Day-15.6%-8.6%-10.6%
30 Day-10.2%-7.9%-8.5%
90 Day-9.9%-4.4%-4.6%
1 Year2.7%1.6%7.1%4.9%7.4%5.2%
3 Year6.6%3.9%25.5%18.4%31.7%23.2%
5 Year5.6%2.8%65.9%50.7%56.4%39.3%

Price Volatility Vs. Market

How volatile is Stifel Financial's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Stifel Financial undervalued compared to its fair value and its price relative to the market?

9.4x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SF ($59.33) is trading above our estimate of fair value ($45.12)

Significantly Below Fair Value: SF is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SF is good value based on its PE Ratio (9.9x) compared to the Capital Markets industry average (31.8x).

PE vs Market: SF is good value based on its PE Ratio (9.9x) compared to the US market (17.1x).


Price to Earnings Growth Ratio

PEG Ratio: SF is poor value based on its PEG Ratio (1.2x)


Price to Book Ratio

PB vs Industry: SF is good value based on its PB Ratio (1.2x) compared to the US Capital Markets industry average (6.6x).


Next Steps

Future Growth

How is Stifel Financial forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

8.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SF's forecast earnings growth (8.6% per year) is above the savings rate (1.7%).

Earnings vs Market: SF's earnings (8.6% per year) are forecast to grow slower than the US market (13.2% per year).

High Growth Earnings: SF's earnings are forecast to grow, but not significantly.

Revenue vs Market: SF's revenue (5.3% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: SF's revenue (5.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SF's Return on Equity is forecast to be low in 3 years time (13.1%).


Next Steps

  • Explore growth companies in the Diversified Financials industry.

Past Performance

How has Stifel Financial performed over the past 5 years?

31.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SF has high quality earnings.

Growing Profit Margin: SF's current net profit margins (13%) are higher than last year (12.7%).


Past Earnings Growth Analysis

Earnings Trend: SF's earnings have grown significantly by 31.6% per year over the past 5 years.

Accelerating Growth: SF's earnings growth over the past year (12.1%) is below its 5-year average (31.6% per year).

Earnings vs Industry: SF earnings growth over the past year (12.1%) exceeded the Capital Markets industry 8.4%.


Return on Equity

High ROE: SF's Return on Equity (12.3%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Stifel Financial's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: SF has a low level of unsold assets or inventory.

Debt Coverage by Assets: SF's debt is covered by short term assets (assets are 8.9x debt).


Financial Institutions Analysis

Asset Level: SF's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if SF has a sufficient allowance for bad loans.

Low Risk Liabilities: SF reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if SF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: SF has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if SF has an appropriate level of bad loans.


Next Steps

Dividend

What is Stifel Financial's current dividend yield, its reliability and sustainability?

1.21%

Current Dividend Yield


Dividend Yield vs Market

company1.2%marketbottom25%1.6%markettop25%4.1%industryaverage2.1%forecastin3Years1.4%

Current dividend yield vs market & industry

Notable Dividend: SF's dividend (1.15%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.53%).

High Dividend: SF's dividend (1.15%) is low compared to the top 25% of dividend payers in the US market (3.96%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, SF has been paying a dividend for less than 10 years.

Growing Dividend: SF's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (10%), SF's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SF's dividends in 3 years are forecast to be thoroughly covered by earnings (11.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.7yrs

Average management tenure


CEO

Ron Kruszewski (60yo)

22.4yrs

Tenure

US$5,287,305

Compensation

Mr. Ronald James Kruszewski is Chairman of the Board and Chief Executive Officer of Stifel Financial Corp. and its principal subsidiary, Stifel, Nicolaus & Company, Incorporated. He joined the firm as Chie ...


CEO Compensation Analysis

Compensation vs Market: Ron's total compensation ($USD5.29M) is about average for companies of similar size in the US market ($USD4.98M).

Compensation vs Earnings: Ron's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Ronald Kruszewski
Co-Chairman of the Board & CEO22.4yrsUS$5.29m1.19% $49.2m
James Zemlyak
Co-President & Head of Global Wealth Management5.7yrsUS$2.86m1.21% $50.1m
Victor Nesi
Co-President & Director of Institutional Group5.7yrsUS$3.77m0.26% $10.5m
James Marischen
Senior VP & CFO1.5yrsUS$1.64m0.031% $1.3m
Thomas Michaud
Senior Vice President0yrsUS$4.71m0.13% $5.4m
David Sliney
Senior VP & COO1.5yrsUS$802.72k0.17% $6.8m
Michael O'Keeffe
Chief Investment Officer1.7yrsno datano data
Bradford Raymond
Global Head of Investment Banking0yrsno datano data
Joel Jeffrey
Senior Vice President of Investor relations0yrsno datano data
Mark Fisher
Senior VP5.8yrsno data0.037% $1.5m

5.7yrs

Average Tenure

54yo

Average Age

Experienced Management: SF's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Ronald Kruszewski
Co-Chairman of the Board & CEO22.4yrsUS$5.29m1.19% $49.2m
Thomas Weisel
Co-Chairman of the Board0yrsUS$2.23m0.060% $2.5m
Robert Grady
Independent Lead Director2.7yrsUS$237.62k0.016% $675.3k
Michael Zimmerman
Independent Director7yrsUS$187.62k0.029% $1.2m
Michael Brown
Independent Director9.5yrsUS$212.62k0.040% $1.6m
James Oates
Independent Director24.1yrsUS$212.62k0.019% $801.5k
John Dubinsky
Independent Director17.1yrsUS$251.87k0.042% $1.7m
Kathleen Brown
Independent Director3.7yrsUS$187.62k0.0055% $226.5k
David Peacock
Independent Director2.7yrsUS$187.62k0.018% $736.8k
Maura Markus
Independent Director3.7yrsUS$187.62k0.0055% $226.5k

7.0yrs

Average Tenure

71yo

Average Age

Experienced Board: SF's board of directors are considered experienced (7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SF insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Stifel Financial Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Stifel Financial Corp.
  • Ticker: SF
  • Exchange: NYSE
  • Founded: 1890
  • Industry: Investment Banking and Brokerage
  • Sector: Diversified Financials
  • Market Cap: US$4.125b
  • Shares outstanding: 69.53m
  • Website: https://www.stifel.com

Number of Employees


Location

  • Stifel Financial Corp.
  • One Financial Plaza
  • 501 North Broadway
  • St. Louis
  • Missouri
  • 63102
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SFNYSE (New York Stock Exchange)YesCommon StockUSUSDJul 1983
2SIDB (Deutsche Boerse AG)YesCommon StockDEEURJul 1983
SF.PRANYSE (New York Stock Exchange)DSHS 1/40 PF AUSUSDJul 2016
SF.PRBNYSE (New York Stock Exchange)6.25 DPSHS PFD BUSUSDFeb 2019

Biography

Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States, the United Kingdom, rest of Europe, and Asia. The company operates through three segments: Global Wealth Management, Institutional Group, and Other. It provides private client services, including securities transaction and financial planning services; institutional equity and fixed income sales, trading and research, and municipal finance services; investment banking services, such as mergers and acquisitions, public offerings, and private placements; and retail and commercial banking services comprising personal and commercial lending programs, as well as deposit accounts. The company also participates and manages in underwritings for corporate and public finance. Stifel Financial Corp. was founded in 1890 and is headquartered in St. Louis, Missouri. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/28 00:26
End of Day Share Price2020/02/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.