Business
Siebert Reports Fourth Quarter and Full Year 2021 Financial Results
Revenue Growth of 23% for Full Year 2021 Operating Income Growth of 111% for Full Year 2021 Stockholder’s Equity Growth of 30% for Full Year 2021 MSCO Net
About this update from Siebert Financial Corp.
[{"type":"text","content":"\n\nRevenue Growth of 23% for Full Year 2021\n\n\n\nOperating Income Growth of 111% for Full Year 2021\n\n\n\nStockholder’s Equity Growth of 30% for Full Year 2021\n\n\n\nMSCO Net Capital Growth of 32% for Full Year 2021\n\n\n\nStrategic Investments in Tigress and Hedge Connection Extend Siebert’s Commitment to Empowering Clients’ Success While Helping Narrow the Wealth Gap Through Inclusive Investing\n\n\n NEW YORK--(BUSINESS WIRE)--\nSiebert Financial Corp. (NASDAQ: SIEB) (“Siebert”), a mission-driven provider of financial services, today reported financial results for the full year ended December 31, 2021.\n\nFull Year 2021 Financial Highlights\n\n\nRevenue of $67.5 million, up 23% from the prior year period\n\n\nOperating income of $6.8 million, up 111% from the prior year period\n\n\nOperating margin of 10.0%, an improvement compared to 5.8% in the prior year period\n\n\nNet income of $5.0 million, up 69% from the prior year period\n\n\nEarnings per share of $0.16 increased 60% from $0.10 in the prior year period\n\n\nTotal assets under management of $17.3 billion, an increase from $16.2 billion from the end of 2020\n\n\nRecent Business Highlights\n\n\nCompleted previously announced strategic investment in Tigress Financial Partners and launched RISE Financial Services, a woman-owned, diverse financial services firm, extending Siebert’s 50+ year history of diversity, equity, and inclusion which began with the legendary Muriel Siebert. RISE Prime, a division of RISE Financial Services, specializes in offering a comprehensive suite of prime brokerage services aligned with the growing mission-driven Environmental, Social and Governance (ESG) initiatives of institutional investors.\n\n\nCompleted a minority investment in Hedge Connection, the only woman-owned FinTech company offering a capital introduction solution platform for hedge funds. Hedge Connection is democratizing the capital raising process so that all managers, including talented minority and woman emerging mangers, can gain access to institutional investors and break down barriers that impede growth.\n\n\nPurchased office building in Miami, Florida to serve as the headquarters for Siebert. Miami is continuing to grow as a major hub for financial companies, and the building purchase strengthens Siebert’s presence in the Greater Miami area following the opening of Si...