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Stifel Financial Corp SF

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Stock XNYS Rating as of
$75.26 +0.38 (0.51%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Stifel Financial: Increasing Our Fair Value by 12%; Capital Markets Upturn Should Boost Earnings

Michael Wong

We are increasing our fair value estimate for no-moat-rated Stifel Financial to $81 per share from $72. This implies an adjusted forward price/earnings multiple of about 11 times and a price/book ratio of 1.8 times. Of the net $9 increase in our fair value estimate, about half is due to earnings since our previous valuation update and half is due to miscellaneous adjustments, such as incorporating higher client asset levels after the appreciation of the stock market.

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Price vs Fair Value

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SF is trading at a 8% discount.
Price
$74.88
Fair Value
$56.00
Uncertainty
High
1-Star Price
$174.36
5-Star Price
$49.30
Economic Moat
Xglck
Capital Allocation
Vhdfjyxpm

Bulls Say, Bears Say

Bulls

Stifel's string of acquisitions has increased operational scale and expertise. Stifel is an experienced acquirer and integrator. A recession could provide ample acquisition opportunities.

Bears

The company's plan to increase the leverage at its investment bank and risk profile of its commercial bank could backfire.

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News

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Trading Information

Previous Close Price
$74.88
Day Range
$74.84–75.62
52-Week Range
$54.84–78.33
Bid/Ask
$75.17 / $75.28
Market Cap
$7.72 Bil
Volume/Avg
113,182 / 516,670

Key Statistics

Price/Earnings (Normalized)
15.94
Price/Sales
1.98
Dividend Yield (Trailing)
2.00%
Dividend Yield (Forward)
2.24%
Total Yield
7.77%

Company Profile

Stifel Financial is a middle-market-focused investment bank that produces more than 90% of its revenue in the United States. Approximately 60% of the company's net revenue is derived from its global wealth management division, which supports over 2,000 financial advisors, with the remainder coming from its institutional securities business. Stifel has a history of being an active acquirer of other financial-services firms.
Sector
Financial Services
Industry
Capital Markets
Stock Style Box
Small Value
Total Number of Employees
9,000
Website
https://www.stifel.com

Competitors

Valuation

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Metric
SF
LPLA
RJF
Price/Earnings (Normalized)
 15.9416.5714.50
Price/Book Value
 1.649.332.38
Price/Sales
 1.982.012.25
Price/Cash Flow
 10.4611.8412.26
Price/Earnings
SF
LPLA
RJF

Financial Strength

Metric
SF
LPLA
RJF
Quick Ratio
 —1.01—
Current Ratio
 —1.71—
Interest Coverage
 —8.73—
Quick Ratio
SF
LPLA
RJF

Profitability

Metric
SF
LPLA
RJF
Return on Assets (Normalized)
 1.41%12.77%2.31%
Return on Equity (Normalized)
 11.50%57.46%18.04%
Return on Invested Capital (Normalized)
 —25.01%—
Return on Assets
SF
LPLA
RJF
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