Stifel Financial Beats Estimates (SF)

Stifel Financial Corporation SF announced on Tuesday morning that it beat consensus Wall Street estimates. Stifel Financial Corporation reported a 3rd quarter adjusted earnings of 72 cents per share. The company's revenue rose to a record high 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." Stifel Financial Corporation (SF) closed the previous trading day at $49.60 per share. Analysts covering the company's stock give it a consensus price target of $56.00 per share. Read more from Benzinga's Company news.
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