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Stifel (SF) Closes Acquisition of Ziegler Wealth Management

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Stifel Financial Corp. (SF - Free Report) recently announced the completion of the acquisition of B.C. Ziegler & Company’s wealth management business, Ziegler Wealth Management. The transaction, with no financial terms disclosed, was announced in October 2017.

Ziegler Wealth Management, based in Chicago, IL, has 57 private client advisors in 12 branches across five states, managing client assets worth nearly $4.8 billion.

The transaction is likely to strengthen Stifel’s hold in Midwest markets, along with the addition of advisors in Arizona, Florida, and Virginia.

Stifel remains well poised to grow inorganically. In January 2017, the company had acquired Indiana-based City Financial Corporation, and its wholly owned subsidiary, City Securities Corporation. The deal strengthened its global wealth management and public finance operations. Prior to this, Stifel had bought Sterne Agee Group and Barclays PLC’s (BCS - Free Report) Wealth and Investment Management unit in the United States.

The company’s acquisition spree reflects capital strength and efforts to bolster performance. Also, it has diversified Stifel’s sources of revenues, which is likely to have supported its financials. Similarly, the latest acquisition is another step in line with its growth strategy.

With a strong balance-sheet position, the company is well positioned to continue expanding inorganically, going forward. Additionally, it shall benefit from improving conditions in the domestic economy.

Over the past year, shares of Stifel's surged 30.4%, outperforming the industry’s rally of 29.7%.

Stifel carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

A couple of stocks in the same space are E*TRADE Financial Corporation and The Goldman Sachs Group (GS - Free Report) , both carrying a Zacks Rank of 2.

E*TRADE’s Zacks Consensus Estimate for current-year earnings has been revised 5.1% upward over the last 60 days. In a year’s time, its share price has gained more than 34%.

Goldman Sachs has witnessed its Zacks Consensus Estimate for 2018 earnings being revised 1% upward, over the last 60 days. Also, its shares have gained 20%, in a year’s time.

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