Stifel Financial Corp. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 31, 2017 at 11:30 am
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Stifel Financial Corp. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the fourth quarter, the company reported net income available to common shareholders was $24,537,000 or $0.31 per diluted share against $48,269,000, or $0.14 per diluted share for the same period a year ago. Total revenues were $677,509,000 against $593,771,000 for the same period a year ago. Net revenues were $661,391,000 against $581,286,000 for the same period a year ago. At December 31, 2016, Book value per share was $41.09 against $37.19 per share a year ago. Non-GAAP net income available to common shareholders was $54,185,000. Income before income taxes was $54,894,000 against $11,082,000 for the same period a year ago. Non-GAAP net income available to common shareholders was $54,185,000 or $0.68 per diluted share.
For the full year, the company reported net income available to common shareholders was $77,614,000 or $1.00 per diluted share against $92,336,000 or $1.18 per diluted share for the same period a year ago. Total revenues were $2,642,370,000 against $2,376,993,000 for the same period a year ago. Net revenues were $2,575,496,000 against $2,331,594,000 for the same period a year ago. Income before income taxes was $142,582,000 against $141,567,000 for the same period a year ago.
Stifel Financial Corp. is a financial holding company. The Company's principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a full-service retail and institutional wealth management and investment banking company. Its segment includes Global Wealth Management, Institutional Group, and others. Its Global Wealth Management segment consists of two businesses, the Private Client Group and Stifel Bancorp. The Private Client Group provides securities brokerage services, including the sale of equities, mutual funds, fixed income products, and insurance, as well as offering banking products to its private clients through its bank subsidiaries, which provide residential, consumer, commercial lending, and FDIC-insured deposit accounts to customers. The Institutional Group segment includes institutional sales and trading. The Other segment includes interest income from stock borrow activities, unallocated interest expense, interest income and gains and losses from investments.