Jim Cramer - Mad Money
Stifel Financial
SF-N
PARTIAL BUY
Oct 26, 2022
One of the best wealth management companies in the country. Today they reported a top and bottom line miss due to softness in investment banking, and a slight cut in their full-year forecast. Still, shares finished up 2.6% today. Why? Everybody already knew that investment banking would be bad. Management said that their wealth management division remains steady. It's the start of a long-term recovery.
He just bought more Stifel. They reported terrible earnings, but he expects 40% great in the coming year. Trades at 10x earnings. Great CEO. Likes that the brokerage business is scalable and not enough people own brokers.
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