SIEB Siebert Financial Corp.
Siebert Financial Corp. operates as a bank holding company. It operates through its subsidiary, Muriel Siebert & Co., Inc., conducts retail discount brokerage and investment banking business. Its offerings include trading, fund exchange, competitive money funds, active traders, dynamic monitor, extended hours trading, research choices, news & account alerts, online bill payment, planning & education, wireless, touchtone and newsletter. Siebert Financial has two divisions: Retail and Capital Markets Group. The Retail division includes discount brokerage and related services, independent retail execution services, retail customer service, retirement c, customer financing and information and communications systems. The Capital Markets Group division serves as a co-manager, underwriting syndicate member and selling group member on a wide spectrum of securities offerings for corporations and Federal agencies. This Division also provides investment banking and institutional equity execution services. The company was founded on April 24, 1996 and is headquartered in New York, NY.
Company profile
Ticker
SIEB
Exchange
Website
Employees
Incorporated in
Location
Fiscal year end
Sector
Industry (SEC)
Former names
Michaels J Inc
SEC CIK
Corporate docs
IRS number
111796714
Calendar
27 Mar 20
4 Apr 20
31 Dec 20
News
Company financial data Financial data
| Quarter (USD) | Dec 19 | Sep 19 | Jun 19 | Mar 19 | |
|---|---|---|---|---|---|
| Revenue | 7.96M | 7.14M | 7.06M | 6.43M | |
| Net income | 505K | 1.1M | 992K | 1.01M | |
| Diluted EPS | 0.02 | 0.04 | 0.04 | 0.04 | |
| Net profit margin | 6.35% | 15.45% | 14.05% | 15.65% | |
| Net change in cash | -1.15M | -436K | 900K | -3.46M | |
| Cash on hand | 3.08M | 4.23M | 4.67M | 3.77M |
| Annual (USD) | Dec 19 | Dec 18 | Dec 17 | Dec 16 | |
|---|---|---|---|---|---|
| Revenue | 28.59M | 30.04M | 13.11M | 9.81M | |
| Net income | 3.61M | 11.96M | 2.16M | -5.58M | |
| Diluted EPS | 0.13 | 0.44 | .10 | -.25 | |
| Net profit margin | 12.61% | 39.83% | 16.45% | -56.85% | |
| Operating income | 2.31M | -5.58M | |||
| Net change in cash | -4.15M | 3.46M | 1.04M | -6.69M | |
| Cash on hand | 3.08M | 7.23M | 3.77M | 2.73M |
Financial data from company earnings reports
Recent insider trades
| Date | Owner | Security | Transaction | Code | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|
| 24 Jan 20 | Gloria E Gebbia | Common Stock, $0.01 par value per share | Sell | Dispose S | 1.9 | 350,000 | 665K | 3,177,283 |
| 24 Jan 20 | Kennedy Cabot Acquisition | Common Stock, $0.01 par value per share | Sell | Dispose S | 1.9 | 350,000 | 665K | 3,177,283 |
| 7 Jan 20 | Gloria E Gebbia | Common Stock, $0.01 par value per share | Gift | Aquire G | 0 | 16,800 | 0 | 8,194,901 |
| 7 Jan 20 | Gloria E Gebbia | Common Stock, $0.01 par value per share | Gift | Dispose G | 0 | 78,750 | 0 | 7,849,615 |
| 7 Jan 20 | Andrew H Reich | Common Stock, $0.01 par value per share | Gift | Aquire G | 0 | 11,000 | 0 | 16,000 |
| 7 Jan 20 | Andrew H Reich | Common Stock, $0.01 par value per share | Gift | Dispose G | 0 | 2,000 | 0 | 612,134 |
| 7 Jan 20 | David Gebbia | Common Stock, $0.01 par value per share | Gift | Aquire G | 0 | 13,000 | 0 | 35,800 |
| 7 Jan 20 | David Gebbia | Common Stock, $0.01 par value per share | Gift | Dispose G | 0 | 8,200 | 0 | 1,783,514 |
Institutional ownership Q4 2019
5.2% owned by funds/institutions
13F holders |
Current |
|---|---|
| Total holders | 31 |
| Opened positions | 2 |
| Closed positions | 4 |
| Increased positions | 15 |
| Reduced positions | 5 |
13F shares |
Current |
|---|---|
| Total value | 21.5M |
| Total shares | 1.4M |
| Total puts | 0 |
| Total calls | 13.2K |
| Total put/call ratio | – |
Largest owners |
Shares | Value |
|---|---|---|
| BLK BlackRock | 403.45K | $3.49M |
| Vanguard | 382.49K | $3.31M |
| STT State Street | 114.98K | $995K |
| NTRS Northern Trust | 98.89K | $855K |
| Dimensional Fund Advisors | 92.41K | $799K |
| Geode Capital Management | 69.69K | $602K |
| Susquehanna International | 44.38K | $384K |
| STRS Ohio | 42.3K | $365K |
| BK Bank Of New York Mellon | 22.39K | $194K |
| Charles Schwab Investment Management | 20.33K | $176K |
Financial report summary
?Risks
- Securities market volatility and other securities industry risk could adversely affect our business.
- Lower price levels in the securities markets may reduce our profitability.
- There is intense competition in the brokerage industry.
- Failure to protect client data or prevent breaches of our information systems could expose us to liability or reputational damage.
- We may be exposed to damage to our business or our reputation by cybersecurity breaches.
- Our advisory services subject us to additional risks.
- We are subject to extensive government regulation.
- Legislation has and may continue to result in changes to rules and regulations applicable to our business, which may negatively impact our business and financial results.
- We expect that our business will be materially adversely affected by the recent coronavirus (COVID-19) pandemic.
- A prolonged economic slowdown, volatility in the markets, a recession, and uncertainty in the markets could impair our business and harm our operating results.
- We are subject to net capital requirements.
- Our customers may fail to pay us.
- An increase in volume on our systems or other events could cause them to malfunction.
- We rely on information processing and communications systems to process and record our transactions.
- Rapid market or technological changes may render our technology obsolete or decrease the attractiveness of our products and services to our clients.
- We depend on our ability to attract and retain key personnel.
- We may be unable to realize the anticipated benefits of our cost cutting efforts or it may take longer than anticipated for us to realize any benefits from increased cost efficiencies or economies of scale, if at all.
- Our principal shareholder has the ability to control key decisions submitted to a vote of our shareholders.
- There may be no public market for our Common Stock.
- Our future ability to pay dividends to holders of our Common Stock is subject to the discretion of our Board of Directors and will be limited by our ability to generate sufficient earnings and cash flows.
- Potential strategic acquisitions and other business growth could increase costs and regulatory and integration risks.
Management Discussion
- Our income before income taxes was $4,725,000 for the year ended December 31, 2019 and decreased by $2,635,000 or 36% from the prior year primarily due to a decrease in revenue related to principal transactions and commissions and fees due to market volatility, partially offset by the increase in commissions and fees from the acquisition of Weeden Prime as well as an increase in the advisory business line from our Robo-Advisor. This decrease in revenue was partially offset by the decrease in employee compensation corresponding to these revenue streams such as commissions payouts and clearing fees. In addition, there was an increase in rent and occupancy expense as well as other general and administrative expenses due to the incremental rent and related office expenses of our Jersey City and Miami locations. Lastly, there was an increase in depreciation and amortization expenses related to incremental furniture, equipment and leasehold improvements as well as software purchased in 2019.
Content analysis
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H.S. freshman Avg
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New words:
absence, app, area, armed, CA, care, careful, categorized, caution, CFTC, China, Circuit, circumstance, clearance, Codification, Colombino, Commodity, comprehensive, congregating, Court, CRS, custodianship, default, economy, European, expedient, fall, FDIC, footage, foreseeable, forthcoming, founded, FTSE, gave, Goldman, greatest, heightened, hereof, hindsight, hosted, indefinite, influence, input, interchange, interdependency, investee, IRC, judgement, length, lent, leverage, live, lived, lowest, macroeconomic, managerial, Miami, Michael, mitigate, NFA, occupied, outflow, outlook, outsourced, package, pandemic, partnership, passed, payroll, people, Pershing, plant, postpone, preemptive, preferred, prime, prioritizing, proceed, proportion, proportional, qualitative, quarantining, recalculate, recession, reconstitution, recurring, referral, remitted, rounded, scalable, shock, showing, simple, simplify, slowdown, slower, SNXT, sound, spread, SRO, standing, STCH, step, stringent, strong, Subtopic, suitability, supervisory, swap, tangible, titled, transparency, twelve, UBT, unclear, undertaken, Unincorporated, unprecedented, upgrade, upgraded, vacated, version, vulnerable, Weeden, WILP, WSC
Removed:
added, adherence, adjusting, amounted, April, back, beta, Custodial, dated, deem, duty, enter, environment, footnote, forward, granted, home, impartial, legislative, licensing, main, misalignment, prohibited, promotion, rental, representing, rollover, stemming, supplementary, tender, terminated, Topic, unpaid, view, web
Financial reports
10-K
2019 FY
Annual report
27 Mar 20
10-Q
2019 Q3
Quarterly report
13 Nov 19
10-Q
2019 Q2
Quarterly report
14 Aug 19
10-Q
2019 Q1
Quarterly report
15 May 19
10-K
2018 FY
Annual report
29 Mar 19
10-Q
2018 Q3
Quarterly report
14 Nov 18
10-Q
2018 Q2
Quarterly report
13 Aug 18
10-Q
2018 Q1
Quarterly report
15 May 18
10-K/A
2017 FY
Annual report (amended)
30 Apr 18
10-K
2017 FY
Annual report
13 Apr 18
Current reports
8-K/A
Financial Statements and Exhibits
17 Mar 20
8-K/A
Financial Statements and Exhibits
14 Feb 20
8-K
Agreement and Plan of Merger
7 Jan 20
8-K
Completion of Acquisition or Disposition of Assets
4 Dec 19
8-K
Equity Interests Purchase Agreement
3 Oct 19
8-K
Submission of Matters to a Vote of Security Holders
1 Aug 19
8-K
Entry into a Material Definitive Agreement
19 Jul 19
8-K/A
Financial Statements and Exhibits
8 Apr 19
8-K
Stockcross Share Repurchase Agreement
25 Jan 19
8-K
Unregistered Sales of Equity Securities
16 Jul 18
Registration and prospectus
SC TO-T/A
Third party tender offer statement (amended)
19 Dec 16
SC TO-T/A
Third party tender offer statement (amended)
25 Nov 16
SC TO-T/A
Third party tender offer statement (amended)
7 Nov 16
SC TO-T/A
Third party tender offer statement (amended)
27 Oct 16
SC TO-T/A
Third party tender offer statement (amended)
30 Sep 16
SC 14D9
Tender offer solicitation
6 Sep 16
SC TO-T
Third party tender offer statement
6 Sep 16
SC TO-C
Information about tender offer
2 Sep 16
S-8
Registration of securities for employees
18 Jul 07
S-8
Registration of securities for employees
24 Jan 03
Proxies
DEF 14C
Information statement
27 Jan 20
PRE 14C
Preliminary information
17 Jan 20
DEFA14A
Additional proxy soliciting materials
19 Jun 19
DEF 14A
Definitive proxy
19 Jun 19
DEFA14A
Additional proxy soliciting materials
30 Apr 18
DEF 14A
Definitive proxy
30 Apr 18
DEF 14C
Information statement
29 Nov 17
PRE 14C
Preliminary information
11 Sep 17
DEF 14A
Definitive proxy
23 May 17
DEF 14A
Definitive proxy
28 Nov 16
Other
UPLOAD
Letter from SEC
8 Feb 19
UPLOAD
Letter from SEC
28 Nov 17
CORRESP
Correspondence with SEC
17 Nov 17
UPLOAD
Letter from SEC
28 Sep 17
UPLOAD
Letter from SEC
4 Oct 16
UPLOAD
Letter from SEC
15 Sep 16
CT ORDER
Confidential treatment order
8 Nov 10
UPLOAD
Letter from SEC
11 Mar 10
CORRESP
Correspondence with SEC
5 Mar 10
UPLOAD
Letter from SEC
19 Feb 10
Ownership
SC 13D/A
Siebert Financial Corp
7 Feb 20
4
SIEBERT FINANCIAL / Gloria E Gebbia ownership change
28 Jan 20
4
Change in insider ownership
28 Jan 20
SC 13G/A
Siebert Financial Corp
24 Jan 20
SC 13D/A
Siebert Financial Corp
17 Jan 20
4
SIEBERT FINANCIAL / Gloria E Gebbia ownership change
11 Jan 20
4
SIEBERT FINANCIAL / Andrew H Reich ownership change
11 Jan 20
4
SIEBERT FINANCIAL / David Gebbia ownership change
11 Jan 20
4
SIEBERT FINANCIAL / CHARLES ZABATTA ownership change
11 Jan 20
4
SIEBERT FINANCIAL / John M. Gebbia ownership change
11 Jan 20