Siebert Financial (NASDAQ:SIEB) Announces Quarterly Earnings Results

Siebert Financial (NASDAQ:SIEB) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.04 earnings per share (EPS) for the quarter, Zacks reports. Siebert Financial had a return on equity of 10.78% and a net margin of 11.00%.The firm had revenue of $26.85 million during the quarter.

Siebert Financial Stock Down 1.4%

NASDAQ:SIEB traded down $0.04 during mid-day trading on Friday, reaching $2.78. The stock had a trading volume of 10,246 shares, compared to its average volume of 70,150. The stock has a market cap of $112.39 million, a P/E ratio of 11.58 and a beta of 0.68. The business’s 50 day moving average is $2.95 and its 200 day moving average is $3.67. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.13 and a quick ratio of 1.13. Siebert Financial has a fifty-two week low of $2.08 and a fifty-two week high of $5.77.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SIEB. JPMorgan Chase & Co. boosted its holdings in Siebert Financial by 111,383.3% in the second quarter. JPMorgan Chase & Co. now owns 6,689 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 6,683 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Siebert Financial in the second quarter worth about $34,000. Invesco Ltd. acquired a new stake in shares of Siebert Financial in the second quarter worth about $45,000. Jane Street Group LLC boosted its stake in shares of Siebert Financial by 40.9% during the 1st quarter. Jane Street Group LLC now owns 16,443 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 4,775 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Siebert Financial during the 3rd quarter valued at about $92,000. Institutional investors own 1.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SIEB. Wall Street Zen downgraded Siebert Financial from a “buy” rating to a “sell” rating in a report on Saturday, August 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Siebert Financial in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Siebert Financial has a consensus rating of “Hold”.

About Siebert Financial

Siebert Financial Corp., through its subsidiaries, engages in the retail brokerage and investment advisory businesses in the United States and Internationally. It offers self-directed trading, market making and fixed income investment, stock borrow, stock loan, equity compensation plans, wealth management, and financial advisory services; independent retail execution services; and retail customer services.