Stifel Financial down after FINRA order to pay damages

Stifel Financial SF.N stock down 2.9% after co ordered to pay $132.5 mln for misrepresenting risk of complex structured notes

Financial Industry Regulatory Authority arbitration panel awarded $26.5 mln in compensatory damages, $79.5 mln in punitive damages, and $26.5 mln for legal fees to the Jannetti family

Value of the notes was linked to the SPDR S&P Biotech ETF XBI.P and stocks including DocuSign DOCU.O, Dynatrace DT.N, Palantir Technologies PLTR.O and Twilio TWLO.N

Stifel plans to appeal, arguing the Jannettis were experienced investors who understood risks and only complained after losses

SF's stock has declined about 13% YTD, compared to a 6% fall in S&P 500 .SPX

Stock is about 23% below its 52-week intraday high of $120.27 reached on Jan. 30, 2025

Stock recently traded at 11 times expected earnings, in line with its 5-year avg forward PE of 11, per LSEG data