2 Financial Stocks in Trading Radars After Earnings
Stifel Financial Corporation (NYSE:SF) reported its results for the third quarter. Reported a profit of $22.3 million (35 cents per diluted share) in the quarter. Stifel Financial Corporation had a net loss of $84.3 million or a loss $1.65 per share in the year earlier quarter. Revenue was $334.2 million last quarter. SF fell short of the mean analyst estimate of 41 cents per share. It fell short of the average revenue estimate of $341.8 million.
“Our third quarter demonstrates the importance of a balanced business model, particularly in a volatile environment. While not immune to the current macroeconomic headwinds, our Global Wealth Management segment generated impressive results, while the dearth of capital markets activity weighed on our investment banking revenues,” commented Ronald J. Kruszewski, Chairman, President and CEO of Stifel Financial. “Our business model and capital base are solid. We need conviction in the marketplace and lower volatility to return to the margins our firm is capable of producing. We remain focused on serving our clients and are well positioned to capitalize on the opportunities ahead.”
Competitors to Watch: Oppenheimer Hldgs. Inc. (NYSE:OPY), Raymond James Financial, Inc. (NYSE:RJF), Siebert Financial Corp. (NASDAQ:SIEB), Ladenburg Thalmann Financial Services (AMEX:LTS), Rodman & Renshaw Capital Group Inc. (NASDAQ:RODM), Morgan Stanley (NYSE:MS), Bank of America (NYSE:BAC), Citigroup (NYSE:C), JP Morgan (NYSE:JPM), TD Ameritrade Holding Corp. (NASDAQ:AMTD), Goldman Sachs Group, Inc. (NYSE:GS), and Knight Capital Group Inc. (NYSE:KCG).
Prospect Capital Corporation (NASDAQ:PSEC) reported net income above Wall Street’s expectations for the first quarter. Net income for Prospect Capital Corporation rose to $39.9 million (37 cents per share) vs. $25.6 million (34 cents per share) in the same quarter a year earlier. This marks a rise of 56% from the year earlier quarter. PSEC beat the mean analyst estimate of 26 cents per share.
Competitors to Watch: Main Street Capital Corp. (NYSE:MAIN), MCG Capital Corporation (NASDAQ:MCGC), American Capital Ltd. (NASDAQ:ACAS), Saratoga Investment Corp. (NYSE:SAR), Kohlberg Capital Corp. (NASDAQ:KCAP), Gladstone Capital Corp. (NASDAQ:GLAD), Gladstone Investment Corp. (NASDAQ:GAIN), MVC Capital, Inc. (NYSE:MVC), Ares Capital Corporation (NASDAQ:ARCC), and Equus Total Return, Inc. (NYSE:EQS).