Just when you thought that there are no good investments opportunities in financial sector Stifel (NYSE:SF) comes with their latest quarterly results.
-Net revenues of $895.8 million, increased 11.9% with the year-ago quarter, were the Company’s third highest quarterly net revenues.
-Record Institutional Group net revenues and fixed income brokerage revenues.
– Net income available to common shareholders of $103.0 million, or $1.39 per diluted common share.
-Non-GAAP net income available to common shareholders of $115.3 million, or $1.55 per diluted common share.
I start mouth watering when I see better results in 2020 compared to 2019. SF share price opened this year slightly above $61.00 but then went down , almost 50% in March. Whoever bought SF stock back then he is a smart investor. This is a company that pays dividend and then some.
The benefits of the investments we have made in our business were again evident in our second quarter results.Ronald J. Kruszewski, CEO of Stifel.
Mr. Kruszewski seems to be a smart man, and he knows investors are only interested in numbers. Positive numbers. He delivered that and now everyone can continue working on something else, while Stifel is working for you.
I believe that the performance of our diversified financial services model will remain strongCEO of Stifel
I also believe that Mr. Stifel, and I also believe that SF stock price will go well over $50 in the days to come. But hey, maybe I am just a pro-growth dreamer.