We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Stifel Financial (SF) Signs Agreement to Acquire Torreya
Read MoreHide Full Article
Stifel Financial Corp. (SF - Free Report) has entered a deal to acquire Torreya Partners LLC. Torreya is an independent M&A and private capital advisory firm serving the global life sciences industry. The terms of the transaction have not been disclosed.
Ronald J. Kruszewski, the chairman and CEO of Stifel Financial, stated, “One in five dollars spent in the United States, and a growing percentage globally, is healthcare-related. This combination brings together two like-minded firms that drive innovation with forward thinking and creative solutions for clients. I look forward to welcoming the Torreya team to Stifel.”
Brad Raymond, the global head of investment banking at Stifel Financial, said, “Over the past 15 years, Torreya has built a strong reputation as a trusted advisor to global life sciences companies, especially in complex and transformational deals that often require unique approaches and structures. We have been very impressed with the breadth and quality of Torreya’s relationships, which include entrepreneurs and growth-focused corporations, along with venture capitalists and specialty healthcare investors. Without question, this partnership helps solidify Stifel’s leadership position across healthcare.”
Stifel Financial’s global healthcare investment banking team, led by co-heads Mark Dempster and Declan Quirke, has advised on 700 total M&A and capital raising transactions since 2010. SF’s presence in the healthcare sector goes beyond investment banking, and includes a dedicated equity research offering, a dedicated specialist sales force and a flagship annual healthcare conference, which attracts 1,000 industry participants.
Over the past year, shares of Stifel Financial have lost 19% compared with a decline of 11.3% recorded by the industry.
Image Source: Zacks Investment Research
Inorganic Growth Efforts by Other Firms
Recently, F.N.B. Corporation (FNB - Free Report) completed the acquisition of Greenville, SC-based UB Bancorp. UB Bancorp's bank subsidiary, Union Bank, merged with FNB's bank subsidiary, First National Bank of Pennsylvania. The acquisition bolstered FNB’s presence in North Carolina and added “low-cost granular deposits,” which will likely be accretive to its financials amid the present economic backdrop.
Similarly, New York Community Bancorp, Inc. (NYCB - Free Report) closed the acquisition of Flagstar Bancorp, Inc. With this, the combined entity becomes the 24th largest regional bank (based on total assets) in the country.
Per NYCB management, “The merger creates a company with significant scale and capabilities with a more diversified loan portfolio, an improved funding mix, and a much better interest-rate risk profile."
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Stifel Financial (SF) Signs Agreement to Acquire Torreya
Stifel Financial Corp. (SF - Free Report) has entered a deal to acquire Torreya Partners LLC. Torreya is an independent M&A and private capital advisory firm serving the global life sciences industry. The terms of the transaction have not been disclosed.
Ronald J. Kruszewski, the chairman and CEO of Stifel Financial, stated, “One in five dollars spent in the United States, and a growing percentage globally, is healthcare-related. This combination brings together two like-minded firms that drive innovation with forward thinking and creative solutions for clients. I look forward to welcoming the Torreya team to Stifel.”
Brad Raymond, the global head of investment banking at Stifel Financial, said, “Over the past 15 years, Torreya has built a strong reputation as a trusted advisor to global life sciences companies, especially in complex and transformational deals that often require unique approaches and structures. We have been very impressed with the breadth and quality of Torreya’s relationships, which include entrepreneurs and growth-focused corporations, along with venture capitalists and specialty healthcare investors. Without question, this partnership helps solidify Stifel’s leadership position across healthcare.”
Stifel Financial’s global healthcare investment banking team, led by co-heads Mark Dempster and Declan Quirke, has advised on 700 total M&A and capital raising transactions since 2010. SF’s presence in the healthcare sector goes beyond investment banking, and includes a dedicated equity research offering, a dedicated specialist sales force and a flagship annual healthcare conference, which attracts 1,000 industry participants.
Over the past year, shares of Stifel Financial have lost 19% compared with a decline of 11.3% recorded by the industry.
Image Source: Zacks Investment Research
Inorganic Growth Efforts by Other Firms
Recently, F.N.B. Corporation (FNB - Free Report) completed the acquisition of Greenville, SC-based UB Bancorp. UB Bancorp's bank subsidiary, Union Bank, merged with FNB's bank subsidiary, First National Bank of Pennsylvania. The acquisition bolstered FNB’s presence in North Carolina and added “low-cost granular deposits,” which will likely be accretive to its financials amid the present economic backdrop.
Similarly, New York Community Bancorp, Inc. (NYCB - Free Report) closed the acquisition of Flagstar Bancorp, Inc. With this, the combined entity becomes the 24th largest regional bank (based on total assets) in the country.
Per NYCB management, “The merger creates a company with significant scale and capabilities with a more diversified loan portfolio, an improved funding mix, and a much better interest-rate risk profile."