Stifel Financial Up 8.4% On Earnings Beat (SF)

Shares of Stifel Financial Corporation SF are trading up 8.4% at $53.74 per share during the Tuesday afternoon trading session. The day's trading range for shares of Stifel Financial Corporation has been between $50.72 and $53.93 per share. Analysts covering the company's stock give it a consensus price target of $56.00 per share. Volume of 502,000 shares is already more than double the daily average volume of 244,000 shares. Stifel Financial Corporation (SF) announced on Tuesday morning that it beat consensus Wall Street expectations. Stifel Financial Corporation announced 3rd quarter adjusted earnings per share of 72 cents, on revenue of $340.4 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 62 cents per share, on revenue of $332.4 million. Chairman, president and chief executive officer Ronald J. Kruszewski said, "Our record net revenues and operating results demonstrate the diversity of our platform and our ability to navigate through changing economic conditions. We have made significant investments in our associates and infrastructure, the latest being the completion of the merger with Thomas Weisel Partners. As we build out our investment bank, we believe we are well positioned to take advantage of future opportunities." Read more from Benzinga's Company news.