Track market-moving stories before they get noisy

Stifel Financial Corp. (SF) Q3 2026 Earnings Call October 21, 2026 9:30 AM EDT

Company Participants

Joel Jeffrey - Senior Vice President of Investor relations
Ronald J. Kruszewski - Chairman & CEO
James Marischen - Senior VP & CFO

Conference Call Participants

Michael Brown - UBS Investment Bank, Research Division
Devin Ryan - Citizens JMP Securities, LLC, Research Division
Steven Chubak - Wolfe Research, LLC
Y. Cho - JPMorgan Chase & Co, Research Division
William Katz - TD Cowen, Research Division
Brennan Hawken - BMO Capital Markets Equity Research

Presentation

Operator

Good day, and welcome to the Stifel Financial Q3 '26 Financial Results Conference Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Joel Jeffrey, Head of Investor Relations. Please go ahead.

Joel Jeffrey
Senior Vice President of Investor relations

Thank you, operator. Good morning, and welcome to Stifel's Third Quarter 2026 Earnings Call. On behalf of Stifel Financial Corp., I will begin the call with the following information and disclaimers: this call is being recorded. During today's presentation, we will refer to our earnings release and financial supplement, copies of which are available at stifel.com.

Today's presentation may include forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ materially. Stifel Financial Corp. does not undertake to update the forward-looking statements in this discussion. Please refer to our notices regarding forward-looking statements and non-GAAP measures that appear in the earnings release.

I'll now turn the call over to our Chairman and Chief Executive Officer, Ron Kruszewski.

Ronald J. Kruszewski
Chairman & CEO

Thanks, Joel. Good morning, everyone, and thank you for joining us. Our results year-to-date and for the third quarter again underscore the strength of Stifel's diversified business model. We're on track for another record year. Year-to-date revenue was $4.3 billion, up 9%; earnings per share of $4.33, which is

Can ServisFirst Keep Delivering?Stifel Financial NYSE: SF reported third-quarter results that included record earnings per share for the period, supported by growth in its Global Wealth Management business, higher net interest income and expense discipline that offset weaker transactional revenue in its institutional segment.

Chairman and Chief Executive Officer Ron Kruszewski said the firm remains on track for another record year. Through the first nine months of 2026, Stifel generated revenue of $4.3 billion, up 9% from a year earlier, while earnings per share rose 57% to $4.33. Excluding the impact of a legal charge recorded in the prior year, year-to-date EPS increased 22%, he said.

Get Stifel Financial alerts:

MGM Buyout: The House Doesn't Always WinFor the third quarter, Stifel posted non-GAAP earnings per share of $1.46, up 12% year over year, on net revenue of $1.43 billion. The company’s pre-tax margin was 22.5%, while its compensation ratio declined to 56.6%, the lowest level since the fourth quarter of 2022.

Wealth Management Sets Revenue Record Global Wealth Management generated record net revenue of $980 million in the third quarter, up 8% from the prior-year period. Chief Financial Officer Jim Marischen said the performance reflected record asset-management revenue and a record third-quarter contribution from net interest income, partly offset by lower transactional revenue.

MarketBeat Week in Review – 03/16 - 03/20Stifel ended the quarter with $576 billion in total client assets and $240 billion in fee-based assets, increases of 6% and 9%, respectively. Excluding assets associated with SIA, total client assets increased 8% and fee-based assets rose 12%, aided by equity-market appreciation and net new asset growth.

Net flows were slightly negative during the quarter, though management said advisor recruiting remained a source of confidence. Over the past 12 months, the firm added 90 advisors, including 28 experienced advisors with $19 million of trailing production.

Kruszewski said Stifel is focusing on recruiting larger teams rather than expanding the absolute number of advisors it engages with. He described the recruiting market as highly competitive but said the company has continued to achieve net positive recruitment over time.

“We’re a firm that we have net positive recruiting and we’ll continue to do so,” Kruszewski said. “I’m optimistic about who we’re talking to.”

Loan Growth Lifts Net Interest Income Stifel increased loans by $1.3 billion in the third quarter, including nearly $1 billion in incremental fund-banking loans and more than $200 million in residential mortgages. For the year to date, the loan book has expanded by roughly $3.6 billion, approaching the company’s full-year target of $4 billion.

Net interest income reached $302 million, above the high end of the company’s guidance and near its highest quarterly level, Marischen said. The result was driven by loan growth and higher loan-fee income. Stifel expects fourth-quarter net interest income of $295 million to $305 million.

The company said its net interest margin has remained relatively stable as its balance sheet has grown. Stifel cited approximately $2.9 billion of deposits held off balance sheet, roughly $18 billion in money-market funds and $7 billion in short-term Treasuries as potential sources to support additional funding needs.

Stifel also disclosed a strategic investment in Meow Technologies and a long-term licensing agreement that will provide the firm access to the fintech company’s current and future platform capabilities. Kruszewski said the arrangement will support a white-label treasury-management platform for venture-fund banking and commercial clients.

Management said the technology investment is intended to accelerate Stifel’s venture and fund banking platform, broaden capabilities for institutional and wealth clients, and help generate deposits without adding branches or physical infrastructure.

Institutional Results Pressured by September Market Moves Institutional revenue totaled $430 million in the third quarter, down 14% from a year earlier. Investment banking revenue was $300 million, down 6%, though advisory revenue rose 10% sequentially to $173 million, supported by activity in financials, industrials, consumer and healthcare.

Equity capital-raising revenue was $69 million, down 13% year over year, while fixed-income underwriting revenue of $58 million was in line with the prior-year quarter. Stifel said higher rates weighed on new-issue volume during the quarter, although fourth-quarter activity had begun strongly.

Fixed-income transactional revenue fell to $80 million from approximately $123 million a year earlier. Marischen attributed the decline partly to $9 million in trading marks resulting from sharp interest-rate moves in September, as well as $32 million in restructuring and aircraft gains recorded in the prior-year period. Equity transactional revenue declined to $41 million from $59 million, reflecting the company’s European restructuring, lower equity volumes and about $7 million of marks on equity facilitation inventory.

Absent another rate move similar to September’s, Stifel expects fourth-quarter institutional transactional revenue in a range of $145 million to $150 million. The company’s institutional pre-tax margin for the first nine months of the year was 18.9%, up 530 basis points from the year-earlier period, reflecting lower compensation and non-compensation ratios following the international restructuring.

Capital Deployment and Fourth-Quarter Outlook Stifel repurchased 1.6 million shares during the quarter and had 6.2 million shares remaining under its current authorization. Its Tier 1 leverage ratio was 10.8%, and management estimated excess capital of nearly $360 million based on a 10% leverage target, after loan growth and buybacks.

Kruszewski said the company expects to match its record fourth-quarter 2025 revenue of $1.56 billion, despite market volatility that slowed what he characterized as a strong investment-banking environment earlier in the year. He also expects fourth-quarter earnings per share to exceed the prior-year period, citing cost discipline and the effect of 6.8 million shares repurchased.

Management said it remains mindful of geopolitical risks, higher interest rates, energy prices and elevated asset valuations. Still, Kruszewski pointed to wealth-management fundamentals, client engagement, investment-banking backlogs and sponsor-led transaction activity as reasons for confidence heading into the final quarter.

About Stifel Financial (NYSE:SF)Stifel Financial Corp. is a financial services holding company headquartered in St. Louis, Missouri. Through its principal operating subsidiaries, including Stifel, Nicolaus & Company, Incorporated, the company provides wealth management, investment banking, securities brokerage and related financial services to individual investors, corporations, municipalities and institutional clients.

Its wealth management business offers investment advice, brokerage services, financial planning, banking and lending solutions, and access to a range of investment products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Stifel Financial Right Now?Before you consider Stifel Financial, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stifel Financial wasn't on the list.

While Stifel Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Nuclear energy is entering a new growth cycle as rising power demand, expanding data centers, and renewed policy support bring the sector back into focus. After strong gains in recent years, the most impactful phase of nuclear investment may still be ahead. This report highlights seven nuclear energy stocks positioned across the value chain—combining near-term revenue with long-term upside as next-generation technologies scale. Click the link below to unlock the full list.

Get This Free Report

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

ST. LOUIS, Oct. 21, 2026 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported net revenues of $1.43 billion for the three months ended September 30, 2026, compared with $1.43 billion a year ago. Net income available to common shareholders was $224.8 million, or $1.40 per diluted common share, compared with $202.1 million, or $1.22 per diluted common share (1) for the third quarter of 2025. Non-GAAP net income available to common shareholders was $234.1 million, or $1.46 per diluted common share for the third quarter of 2026.

Ronald J. Kruszewski, Chairman and Chief Executive Officer, said “Stifel is on track for another record year, with year-to-date revenue of $4.3 billion up 9%, core earnings per share of $4.33 up 22%, and return on tangible common equity of 24.1%. The investments we’ve made in our business continued to drive operating efficiencies, as we delivered our highest ever third quarter earnings per share of $1.46, up 12% versus the prior year, on net revenue of $1.43 billion. I am optimistic about our outlook, as Stifel’s diversified business model, recurring revenue stream, and disciplined capital management position us to keep compounding value for shareholders.”

Highlights

The Company reported net revenues of $1.43 billion, the second best third quarter in its history, driven by higher asset management revenues and net interest income.Non-GAAP net income available to common shareholders of $1.46 per diluted common share, the best third quarter in its history.Asset management revenues increased 14% over the year-ago quarter.Net interest income increased 9% over the year ago quarter.Bank loans increased 21% over the year ago quarter.Client assets of $576.5 billion, up 6% over the year-ago quarter.Over the last twelve months, recruited trailing twelve-month production totaled approximately $19 million.Non-GAAP pre-tax margin of 22.5%.Annualized return on tangible common equity (ROTCE) (6) of 23.9%.Tangible book value per common share (9) of $26.05, up 12% from prior year.The Company repurchased $124.0 million, or 1.6 million shares, of its outstanding common stock during the third quarter at an average price of $76.95.Announced strategic investment in Meow Technologies. Financial Summary (Unaudited)(000s)3Q 20263Q 20259m 20269m 2025GAAP Financial Highlights:   Net revenues$1,426,211 $1,429,396 $4,355,176 $3,969,151 Net income(2)$224,823 $202,051 $684,078 $391,457 Diluted EPS(1) (2)$1.40 $1.22 $4.23 $2.37 Comp. ratio 57.0%  58.8%  57.3%  59.1% Non-comp. ratio 21.3%  21.2%  21.2%  26.7% Pre-tax margin 21.7%  20.0%  21.5%  14.2% Non-GAAP Financial Highlights:   Net revenues$1,429,077 $1,429,398 $4,323,903 $3,969,231 Net income(2)(3)$234,096 $214,419 $700,872 $454,281 Diluted EPS(1) (2) (3)$1.46 $1.30 $4.33 $2.76 Comp. ratio(3) 56.6%  58.0%  57.0%  58.0% Non-comp. ratio(3) 20.9%  20.8%  20.9%  25.9% Pre-tax margin(4) 22.5%  21.2%  22.1%  16.1% ROCE(5) 17.4%  17.0%  17.5%  12.2% ROTCE(6) 23.9%  24.3%  24.1%  17.3% Global Wealth Management (assets and loans in millions) Net revenues$980,293 $907,440 $2,868,950 $2,603,630 Pre-tax net income$374,408 $342,650 $1,066,970 $775,111 Total client assets(7)$576,482 $544,010   Fee-based client assets(7)$239,661 $219,178   Bank loans(8)$26,065 $21,635   Institutional Group     Net revenues$430,281$500,435$1,406,233$1,305,143Equity$282,574$296,677$915,506$753,037Fixed Income$147,707$203,758$490,727$552,106Pre-tax net income$76,261$89,291$266,348$177,762          Global Wealth Management

Global Wealth Management reported record net revenues of $980.3 million for the three months ended September 30, 2026, compared with $907.4 million during the third quarter of 2025. Pre-tax net income was $374.4 million compared with $342.7 million in the third quarter of 2025.

Highlights

Client assets of $576.5 billion, up 6% over the year-ago quarter, which included $10.2 billion of client assets from the Stifel Independent Advisors business that was sold on February 2, 2026.
Fee-based client assets of $239.7 billion, up 9% over the year-ago quarter, which included $4.8 billion of client assets from the Stifel Independent Advisors business that was sold on February 2, 2026.
Over the last twelve months, recruited trailing twelve-month production totaled approximately $19 million.
Net revenues increased 8% from a year ago:

Transactional revenues decreased 3% over the year-ago quarter, reflecting a decrease in client activity.
Asset management revenues increased 14% over the year-ago quarter, reflecting higher asset values due to improved market conditions and net new asset growth.
Net interest income increased 11% over the year-ago quarter primarily driven by balance sheet growth, partially offset by lower interest rates.
Total Expenses:

Compensation expense as a percentage of net revenues increased modestly to 48.8% primarily driven by higher revenue-related compensation, partially offset by revenue growth.
Provision for credit losses decreased from a year ago primarily as a result of a modest improvement in macroeconomic conditions, partially offset by loan growth in the retained portfolio and specific reserves on individual credits.
Non-compensation operating expenses as a percentage of net revenues decreased to 13.0% primarily attributable to lower litigation-related expenses, a decrease in the provision for credit losses, and revenue growth over the year-ago quarter.
Summary Results of Operations
      (000s)
 3Q 2026 3Q 2025 Net revenues$980,293$907,440 Transactional revenues 196,213 203,078 Asset management 492,123 431,363 Net interest income 284,583 257,327 Investment banking 6,731 6,529 Other income 643 9,143  Total expenses$605,885 $564,790 Compensation expense 478,877  441,626 Provision for credit losses 7,926  8,316 Non-comp. operating expenses 119,082  114,848 Pre-tax net income$374,408 $342,650 Compensation ratio 48.8%  48.7% Non-compensation ratio 13.0%  13.5% Pre-tax margin 38.2%  37.8%         Institutional Group

Institutional Group reported net revenues of $430.3 million for the three months ended September 30, 2026, compared with $500.4 million during the third quarter of 2025. Pre-tax net income was $76.3 million compared with $89.3 million in the third quarter of 2025.

Highlights

Investment banking revenues decreased 6% from a year ago:

Advisory revenues decreased 4% from the year-ago quarter, driven by lower levels of completed advisory transactions.Equity capital raising revenues decreased 13% from the year-ago quarter, driven by lower volumes and smaller deal sizes.Fixed income capital raising revenues decreased 2% over the year-ago quarter primarily driven by lower bond issuances.
Fixed income transactional revenues decreased 34% from a year ago:

Fixed income transactional revenues were impacted by widening credit spreads, increased market volatility, and lower realized trading gains during the quarter.
Equity transactional revenues decreased 29% from a year ago:

Equity transactional revenues were impacted by lower realized trading gains, a decline in trading volumes over the year-ago quarter and the restructuring of our European Equities business, which resulted in a $7 million reduction in equity transactional revenues year over year.
Total Expenses:

Compensation expense as a percentage of net revenues decreased to 58.7% primarily attributable to lower revenue-related compensation due to a decline in revenues from the year ago quarter.
Non-compensation operating expenses as a percentage of net revenues increased to 23.6% primarily attributable to a decline in revenues from the year ago quarter. Summary Results of Operations
 (000s) 3Q 2026  3Q2025 Net revenues$430,281 $500,435 Investment banking 299,472  316,954 Advisory 173,017  179,270 Equity capital raising 68,556  78,765 Fixed income capital raising 57,899  58,919 Fixed income transactional 80,472  122,567 Equity transactional 41,195  58,306 Other 9,142  2,608 Total expenses$354,020 $411,144 Compensation expense 252,656  297,106 Non-comp. operating expenses 101,364  114,038 Pre-tax net income$76,261 $89,291 Compensation ratio 58.7%  59.4% Non-compensation ratio 23.6%  22.8% Pre-tax margin 17.7%  17.8%         Other Matters

Highlights

Total assets increased $3.6 billion, or 9%, from the year-ago quarter.Over the last twelve months, the Company repurchased $564.4 million, or 7.3 million shares, of its outstanding common stock at an average price of $77.05.Weighted average diluted shares outstanding decreased primarily due to share repurchases.The Board of Directors declared a $0.34 quarterly dividend per share, payable on September 15, 2026, to common shareholders of record on September 1, 2026.The Board of Directors declared a quarterly dividend on the outstanding shares of the Company’s preferred stock, payable on September 15, 2026, to shareholders of record on September 1, 2026.  3Q 2026
 3Q 2025
 Common stock repurchases(1)  Repurchases (000s)$124,005 $33,086 Number of shares (000s) 1,612  438 Average price$76.95 $75.57 Period end shares (000s) 150,061  152,922 Weighted average diluted shares outstanding (000s) 160,145  165,087 Effective tax rate 24.4%  26.1% Stifel Financial Corp.(10)  Tier 1 common capital ratio`14.5% 14.8% Tier 1 risk-based capital ratio 17.0%  17.6% Tier 1 leverage capital ratio 10.8%  11.1% Tier 1 capital (MM)$4,665 $4,267 Risk weighted assets (MM)$27,450 $24,235 Average assets (MM)$43,060 $38,332 Quarter end assets (MM)$45,282 $41,687 AgencyRatingOutlookFitch RatingsBBB+StableS&P Global RatingsBBBStable    Conference Call Information

Stifel Financial Corp. will host its third quarter 2026 financial results conference call on Wednesday, October 21, 2026, at 9:30 a.m. Eastern Time. The conference call may include forward-looking statements.

All interested parties are invited to listen to Stifel’s Chairman and CEO, Ronald J. Kruszewski, by dialing (800) 330-6710 and referencing conference ID 9806728. A live audio webcast of the call, as well as a presentation highlighting the Company’s results, will be available through the Company’s web site, www.stifel.com. For those who cannot listen to the live broadcast, a replay of the broadcast will be available through the above-referenced web site beginning approximately one hour following the completion of the call.

Company Information

Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases.

A financial summary follows. Financial, statistical and business-related information, as well as information regarding business and segment trends, is included in the financial supplement. Both the earnings release and the financial supplement are available online in the Investor Relations section at www.stifel.com/investor-relations.

The information provided herein and in the financial supplement, including information provided on the Company’s earnings conference calls, may include certain non-GAAP financial measures. The definition of such measures or reconciliation of such measures to the comparable U.S. GAAP figures are included in this earnings release and the financial supplement, both of which are available online in the Investor Relations section at www.stifel.com/investor-relations.

Cautionary Note Regarding Forward-Looking Statements

This earnings release contains certain statements that may be deemed to be “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this earnings release not dealing with historical results are forward-looking and are based on various assumptions. The forward-looking statements in this earnings release are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among other things, the following possibilities: the ability to successfully integrate acquired companies or the branch offices and financial advisors; a material adverse change in financial condition; the risk of borrower, depositor, and other customer attrition; a change in general business and economic conditions; changes in the interest rate environment, deposit flows, loan demand, real estate values, and competition; changes in accounting principles, policies, or guidelines; changes in legislation and regulation; other economic, competitive, governmental, regulatory, geopolitical, and technological factors affecting the companies’ operations, pricing, and services; and other risk factors referred to from time to time in filings made by Stifel Financial Corp. with the Securities and Exchange Commission. For information about the risks and important factors that could affect the Company’s future results, financial condition and liquidity, see “Risk Factors” in Part I, Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Forward-looking statements speak only as to the date they are made. The Company disclaims any intent or obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Summary Results of Operations (Unaudited)
     Three Months Ended Nine Months Ended(000s, except per share amounts)9/30/20269/30/2025% Change6/30/2026% Change9/30/20269/30/2025% ChangeRevenues:        Commissions$200,756$206,075(2.6) $221,462(9.3) $630,052$600,4144.9 Principal transactions 117,124 177,876(34.2)  140,091(16.4)  407,436 492,139(17.2) Investment banking 306,203 323,483(5.3)  331,954(7.8)  979,569 794,88523.2 Asset management 492,163 431,39914.1  456,6307.8  1,408,250 1,244,54813.2 Other income 8,299 14,228(41.7)  12,549(33.9)  76,527 28,499168.5 Operating revenues 1,124,545 1,153,061(2.5)  1,162,686(3.3)  3,501,834 3,160,48510.8 Interest revenue 510,624 481,5046.0  476,0937.3  1,437,766 1,434,1920.2 Total revenues 1,635,169 1,634,5650.0  1,638,779(0.2)  4,939,600 4,594,6777.5 Interest expense 208,958 205,1691.8  187,97511.2  584,424 625,526(6.6) Net revenues 1,426,211 1,429,396(0.2)  1,450,804(1.7)  4,355,176 3,969,1519.7 Non-interest expenses:        Compensation and benefits 813,494 839,820(3.1)  833,018(2.3)  2,494,846 2,346,9766.3 Non-compensation operating expenses 303,092 303,530(0.1)  318,348(4.8)  925,195 1,058,945(12.6) Total non-interest expenses 1,116,586 1,143,350(2.3)  1,151,366(3.0)  3,420,041 3,405,9210.4 Income before income taxes 309,625 286,0468.2  299,4383.4  935,135 563,23066.0 Provision for income taxes 75,482 74,6751.1  72,9613.5  223,096 143,81255.1 Net income 234,143 211,37110.8  226,4773.4  712,039 419,41869.8 Preferred dividends 9,320 9,3200.0  9,321(0.0)  27,961 27,9610.0 Net income available to common shareholders$224,823$202,05111.3 $217,1563.5 $684,078$391,45774.8 Earnings per common share:(1)       Basic$1.48$1.3113.0 $1.415.0 $4.45$2.5276.6 Diluted$1.40$1.2214.8 $1.344.5 $4.23$2.3778.5 Cash dividends declared per common share(1)$0.34$0.319.7 $0.340.0 $1.02$0.939.7 Weighted average number of common shares outstanding:(1)     Basic 151,956 154,679(1.8)  154,234(1.5)  153,889 155,603(1.1) Diluted 160,145 165,087(3.0)  161,631(0.9)  161,744 164,877(1.9)                   Non-GAAP Financial Measures (11)
    Three Months EndedNine Months Ended(000s, except per share amounts)9/30/20269/30/20259/30/20269/30/2025GAAP net income 234,143 $211,371  712,039 $419,418 Preferred dividend 9,320  9,320  27,961  27,961 Net income available to common shareholders 224,823  202,051  684,078  391,457      Non-GAAP adjustments:    Net revenue adjustments (12) (13) 2,866  2  (31,273) 80 Merger-related (14) 8,219  12,676  50,090  45,635 Restructuring and severance (15) 1,174  4,065  3,504  31,106 Provision for income taxes (16) (2,986) (4,375) (5,527) (13,997)Total non-GAAP adjustments 9,273  12,368  16,794  62,824 Non-GAAP net income available to common shareholders$234,096  $214,419 $700,872  $454,281      Weighted average diluted shares outstanding (1) 160,145  165,087  161,744  164,877      GAAP earnings per diluted common share (1)$1.46 $1.28 $4.41 $2.53 Non-GAAP adjustments (1) 0.06  0.08  0.10  0.39 Non-GAAP earnings per diluted common share (1)$1.52 $1.36 $4.51 $2.92      GAAP earnings per diluted common share available to common shareholders (1)$1.40 $1.22 $4.23 $2.37 Non-GAAP adjustments (1) 0.06  0.08  0.10  0.39 Non-GAAP earnings per diluted common share available to common shareholders (1)$1.46 $1.30 $4.33 $2.76               GAAP to Non-GAAP Reconciliation (11)    Three Months EndedNine Months Ended(000s)9/30/20269/30/20259/30/20269/30/2025GAAP net revenues$1,426,211 $1,429,396 $4,355,176 $3,969,151 Non-GAAP adjustments:    Gain on sale of business (12) 2,866  —  (44,418) — Litigation-related and other (13) —  2  13,145  80 Total non-GAAP adjustments 2,866  2  (31,273) 80 Non-GAAP net revenues$1,429,077 $1,429,398 $4,323,903 $3,969,231      GAAP compensation and benefits$813,494 $839,820 $2,494,846 $2,346,976 As a percentage of net revenues 57.0%  58.8%  57.3%  59.1% Non-GAAP adjustments:    Merger-related (14) (3,463) (6,704) (25,226) (13,706)Restructuring and severance (15) (1,174) (4,065) (3,504) (31,106)Total non-GAAP adjustments (4,637) (10,769) (28,730) (44,812) Non-GAAP compensation and benefits$808,857 $829,051 $2,466,116 $2,302,164 As a percentage of non-GAAP net revenues 56.6%  58.0%  57.0%  58.0%      GAAP non-compensation expenses$303,092 $303,530 $925,195 $1,058,945 As a percentage of net revenues 21.3%  21.2%  21.2%  26.7% Non-GAAP adjustments:    Merger-related (14) (4,756) (5,972) (24,864) (31,929) Non-GAAP non-compensation expenses$298,336 $297,558 $900,331 $1,027,016 As a percentage of non-GAAP net revenues 20.9%  20.8%  20.9%  25.9% Total adjustments before income taxes$12,259 $16,743  $22,321 $76,821                Footnotes  (1)All share and per share information has been retroactively adjusted to reflect the February 2026 three-for-two stock split.(2)Represents available to common shareholders.(3)Reconciliations of the Company’s GAAP results to these non-GAAP measures are discussed within and under “Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliation.”(4)Non-GAAP pre-tax margin is calculated by adding total merger-related expenses (non-GAAP adjustments) and dividing it by non-GAAP net revenues. See “Non-GAAP Financial Measures” and “GAAP to Non-GAAP Reconciliation.”(5)Return on average common equity (“ROCE”), a non-GAAP financial measure, is calculated by dividing full year or annualized net income applicable to common shareholders by average common shareholders’ equity.(6)Return on average tangible common equity (“ROTCE”), a non-GAAP financial measure, is calculated by dividing full year or annualized net income applicable to common shareholders by average tangible common equity. Tangible common equity, also a non-GAAP financial measure, equals total common shareholders’ equity less goodwill and identifiable intangible assets and the deferred taxes on goodwill and intangible assets. Average deferred taxes on goodwill and intangible assets were $95.0 million and $87.2 million as of September 30, 2026, and 2025, respectively.(7)Total client assets and fee-based client assets as of September 30, 2025, include $10.2 billion and $4.8 billion, respectively, of client assets from the Stifel Independent Advisors business that was sold on February 2, 2026.(8)Includes loans held for sale.(9)Tangible book value per common share, a non-GAAP financial measure, represents shareholders’ equity (excluding preferred stock) divided by period end common shares outstanding. Tangible common shareholders’ equity equals total common shareholders’ equity less goodwill and identifiable intangible assets and the deferred taxes on goodwill and intangible assets.(10)Capital ratios are estimates at the time of the Company’s earnings release, October 21, 2026.(11)The Company prepares its Consolidated Financial Statements using accounting principles generally accepted in the United States (U.S. GAAP). The Company may disclose certain “non-GAAP financial measures” during its earnings releases, earnings conference calls, financial presentations and otherwise. The Securities and Exchange Commission defines a “non-GAAP financial measure” as a numerical measure of historical or future financial performance, financial position, or cash flows that is subject to adjustments that effectively exclude, or include, amounts from the most directly comparable measure calculated and presented in accordance with U.S. GAAP. Non-GAAP financial measures disclosed by the Company are provided as additional information to analysts, investors and other stakeholders in order to provide them with greater transparency about, or an alternative method for assessing the Company’s financial condition or operating results. These measures are not in accordance with, or a substitute for U.S. GAAP, and may be different from or inconsistent with non-GAAP financial measures used by other companies. Whenever the Company refers to a non-GAAP financial measure, it will also define it or present the most directly comparable financial measure calculated and presented in accordance with U.S. GAAP, along with a reconciliation of the differences between the non-GAAP financial measure it references and such comparable U.S. GAAP financial measure.(12)Gain recognized on the sale of Stifel Independent Advisors, LLC during the first quarter of 2026.(13)Primarily related to prejudgment interest recognized on legal matters.(14)Primarily related to charges attributable to integration-related activities, signing bonuses, amortization of restricted stock awards, debentures, and promissory notes issued as retention, additional earn-out expense, and amortization of intangible assets acquired. These costs were directly related to acquisitions of certain businesses and are not representative of the costs of running the Company’s on-going business.(15)The Company recorded severance costs associated with workforce reductions in certain of its foreign subsidiaries.(16)Primarily represents the Company’s effective tax rate for the period applied to the non-GAAP adjustments.   Media Contact: Neil Shapiro (212) 271-3447 | Investor Contact: Joel Jeffrey (212) 271- 3610 | www.stifel.com/investor-relations

 | Source: Stifel Financial Corporation

ST. LOUIS, Oct. 14, 2026 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) will release its third quarter financial results before the market opens on Wednesday, October 21, 2026. The company will host a conference call to review the results at 9:30 a.m. Eastern time that same day. The conference call may include forward-looking statements.

All interested parties are invited to listen to Stifel Chairman and CEO Ronald J. Kruszewski by dialing (800) 330-6710 and referencing participant ID 9806728. A live audio webcast of the call, as well as a presentation highlighting the company’s results, will be available through Stifel’s website, www.stifel.com.

Stifel Company Information

Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.

Stifel Investor Relations Contact
Joel Jeffrey, Senior Vice President
(212) 271-3610 direct
[email protected] 

Faron Pharmaceuticals Limited (AIM:FARN) retained Stifel’s ‘buy’ rating and €2.50 price target after its research and development day strengthened the case for bexmarilimab, though the broker still awaits decisive BEXERA results.

The bank said the event increased its confidence in the programme without disclosing major new efficacy data or materially changing its investment thesis.

That confidence rests partly on preliminary evidence that bexmarilimab, or BEX, could support normal bone marrow function in high-risk myelodysplastic syndrome, a rare blood cancer.

However, the broker said controlled clinical data remain essential to determine whether these biological effects translate into meaningful patient benefit.

BEXERA will address that question by testing two BEX doses alongside azacitidine against a control group, helping establish the drug’s added benefit and select a dose for subsequent development.

According to Stifel, first patient dosing remains expected in the fourth quarter of 2026, with phase IIb results targeted for late 2027.

That timetable leaves little room for delays, with €32 million in cash reported at the end of June and prior funding guidance through November 2027.

Stifel said this brings funding close to the expected results, but leaves the company exposed to recruitment delays or changes in the development schedule.

SummaryStifel Financial showed some of the disadvantages of the mid-market in the current environment in advisory that favors larger ticket deals.On the other hand, there have been improvements in the equity capital markets (ECM) environment that have managed to support the business sequentially and YoY despite Hormuz.AM tends to be quite resilient, and indeed growth in client assets, at least YoY, has allowed for decent growth here.There are other commission-based businesses, and the interest income depends on sweep deposits, such that volatility in markets and cashing out could actually help parts of Stifel with rate hikes coming.It's cheaper than Lazard, as an example, which has similar AM indexation, more advisory but larger tickets and more vulnerability, and fewer pro-volatility businesses, so SF looks alright. The issue is the sector and its correlates in price performance in a down market.Looking for a helping hand in the market? Members of The Value Lab get exclusive ideas and guidance to navigate any climate. Learn More » Richard Drury/DigitalVision via Getty Images

Stifel Financial Corp. (SF) is a reasonably close comp to Lazard (LAZ), though with a trading business, or to Raymond James (RJF), the comp we used in our

5.62K Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

, /PRNewswire/ -- 1919 Investment Counsel, LLC ("1919"), a subsidiary of Stifel Financial Corp. ("Stifel"), is proud to announce its inclusion in Barron's 2026 Top 100 RIA Firms list. Ranked No. 33 nationally, 1919 has earned a place on the list for the seventh consecutive year, reflecting the firm's continued commitment to helping clients achieve their long-term financial goals. 

Barron's annual Top 100 RIA Firms ranking recognizes independent registered investment advisory firms based on a range of quantitative and qualitative factors, including assets managed, growth, technology spending, succession planning, and other metrics. The 2026 list marks the 11th annual edition of the ranking and was published in September 2026. 

"Earning a place on Barron's Top 100 RIA Firms list for the seventh consecutive year is a meaningful recognition of the work our team does every day," said Harry O'Mealia, President and Chief Executive Officer at 1919. "Our firm has evolved over more than a century, but our focus has remained consistent: understanding what matters most to our clients and providing the perspective, discipline, and personal attention their goals require. We are proud of this distinction and especially grateful to the clients and colleagues who continue to place their confidence in 1919." 

Learn more about 1919's approach to wealth management at 1919ic.com.

About 1919 Investment Counsel:

1919 Investment Counsel ("1919") is a registered investment advisor. Its mission for more than 100 years has been to provide investment counsel and insight that helps individuals, families, foundations, and endowments achieve their financial goals. The firm is headquartered in Baltimore and has offices across the country in Birmingham, Cincinnati, New York, Philadelphia, San Francisco, and Vero Beach. For more information on 1919's services, please visit https://1919ic.com. No fee was paid for participation in the ranking, which was published in September 2026 and applies until September 2027. Firms were ranked according to Barron's proprietary methodology, which evaluates both qualitative and quantitative factors, including assets under management, the size and experience of advisory teams, regulatory records, technology spending, staff diversity, organic and M&A growth, client segmentation, and succession planning. For additional information regarding the ranking methodology and disclosures, please visit our Forms & Disclosures.

About Stifel:

Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company's broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company's website at www.stifel.com. For global disclosures, please visit Stifel Global Disclosures.

Media Contacts:

Ian McEneaney
(212) 554-7159
[email protected]

Kat Weber
(212) 554-7124
[email protected]

SOURCE 1919 Investment Counsel, LLC

Industry Veterans Appointed in New York and Boston, Augmenting Venture Banking and Venture Capital Coverage Nationwide  | Source: Stifel Financial Corporation

ST. LOUIS, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced the addition of three senior leaders to its Venture Banking business, further solidifying its presence across the East Coast venture ecosystem.

Chris Morrison, Matt Scott, and Arianne Perry, each of whom previously held senior roles at Silicon Valley Bank (“SVB”), join Stifel to expand Venture Banking and Venture Capital Coverage efforts in Boston and New York. Their appointments strengthen the firm’s ability to serve the banking and financing needs of venture capital-backed technology companies, their founders, and investors.

Chris Morrison joins as a Managing Director, focused on Venture Banking in the Boston market. Matt Scott joins as a Managing Director, focused on Venture Banking in the New York City market. Arianne Perry joins as a Managing Director, Venture Capital Coverage, focused on expanding the firm’s investor coverage presence in New York City and the East Coast.

“We are pleased to welcome Chris, Matt, and Arianne to Stifel as we continue to build our Venture Banking business,” said Stifel Chairman and CEO Ron Kruszewski. “The innovation economy is an important growth opportunity for Stifel. Their experience and relationships strengthen our ability to serve entrepreneurs and investors with the full capabilities of Stifel, from early stage financing through the public markets and beyond.”

Prior to joining Stifel, Chris Morrison spent 15 years at SVB, including three years leading the growth stage practice and more than a decade in credit and venture lending at the bank.

Most recently, Matt Scott worked at TriplePoint Capital, where he focused on private credit investments in leading high-growth technology companies. Before this, he led SVB’s Enterprise Software team in New York City, served as a venture capital investor at Basecamp Fund, and served as a founder and operator at multiple venture capital-backed tech companies.

Arianne Perry previously led SVB’s East Coast Investor Coverage from New York City, providing venture capital investors with tailored financial services and supporting venture-backed technology companies with capital, credit, and banking solutions. She also spent nearly 10 years as a start-up founder and lead operator in the New York City venture ecosystem. Prior to that, she worked in various finance and investing roles at JPMorgan and Google.

“Stifel has built a differentiated Venture Banking platform that combines a deep understanding of the venture capital ecosystem with the capabilities of a broader financial services firm,” said Morrison, Scott, and Perry in a joint statement. “We look forward to partnering with founders and investors from the earliest stages of a company’s growth through pre-IPO and beyond, providing the banking, financing, and advisory solutions they need as their businesses evolve.”

The hires build on Stifel’s continued investment in its Venture Banking practice, including the recent addition of dedicated Project Finance and Life Sciences and Healthcare teams. The business now includes more than 125 client-facing professionals located in every major U.S. tech market.

Stifel’s Venture Banking practice serves more than 500 leading, high-growth companies across a diverse range of industries including artificial intelligence, climate technology, consumer technology, cybersecurity, fintech, healthcare, and more. To date, the platform has supported their innovation with more than $12 billion in loan commitments.

Stifel Company Information

Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement.

Stifel Bank and Stifel Bank & Trust, Members FDIC, offer a full range of consumer and commercial lending solutions, including Venture Banking and Venture Capital Coverage. To learn more about Stifel, please visit the Company’s website at Stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases. 

Media Contacts

Neil Shapiro, +1 (212) 271-3447
[email protected]

Evan Roesen, +1 (212) 271-3610
[email protected]

Investor Relations Contact
Joel Jeffrey, +1 (212) 271-3610
[email protected]

Amundi reduced its holdings in shares of Stifel Financial Corporation (NYSE:SF – Free Report) by 68.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 153,885 shares of the financial services provider’s stock after selling 337,532 shares during the period. Amundi owned about 0.10% of Stifel Financial worth $10,737,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Stifel Financial in the second quarter valued at approximately $1,031,197,000. California State Teachers Retirement System lifted its position in shares of Stifel Financial by 6,765.3% during the 2nd quarter. California State Teachers Retirement System now owns 12,188,540 shares of the financial services provider’s stock worth $850,394,000 after purchasing an additional 12,011,002 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Stifel Financial during the second quarter worth $123,551,000. AQR Capital Management LLC grew its stake in shares of Stifel Financial by 94.8% during the fourth quarter. AQR Capital Management LLC now owns 2,893,850 shares of the financial services provider’s stock worth $362,368,000 after purchasing an additional 1,408,347 shares in the last quarter. Finally, Norges Bank purchased a new position in Stifel Financial in the fourth quarter valued at $172,446,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets In other Stifel Financial news, Director Maryam Brown sold 4,700 shares of Stifel Financial stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total value of $372,240.00. Following the transaction, the director directly owned 5,729 shares in the company, valued at approximately $453,736.80. This trade represents a 45.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.36% of the company’s stock.

Shares of NYSE:SF opened at $79.81 on Friday. The stock has a market cap of $12.05 billion, a P/E ratio of 14.29 and a beta of 0.98. The firm has a fifty day moving average price of $80.68 and a 200 day moving average price of $76.30. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.83. Stifel Financial Corporation has a 1-year low of $67.81 and a 1-year high of $89.83. Stifel Financial (NYSE:SF – Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the business posted $1.71 earnings per share. Stifel Financial’s quarterly revenue was up 13.0% on a year-over-year basis. Sell-side analysts predict that Stifel Financial Corporation will post 6.36 EPS for the current year.

Stifel Financial Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.36 annualized dividend and a yield of 1.7%. Stifel Financial’s dividend payout ratio is currently 24.33%.

Analyst Ratings Changes A number of analysts have issued reports on SF shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stifel Financial in a report on Wednesday, August 26th. UBS Group set a $90.00 price objective on Stifel Financial in a report on Thursday, July 23rd. Wall Street Zen cut Stifel Financial from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. JPMorgan Chase & Co. upped their price target on Stifel Financial from $80.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, Zacks Research upgraded shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Stifel Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.90.

Read Our Latest Analysis on Stifel Financial

Stifel Financial Company Profile (Free Report)

Stifel Financial Corp. is a diversified financial services company headquartered in St. Louis, Missouri. Through its principal broker-dealer, Stifel, Nicolaus & Company, Incorporated, the company provides wealth management, investment banking, institutional brokerage, securities research, sales and trading, and public finance services to individuals, corporations, municipalities and institutional investors.

Its wealth management business offers investment advisory, brokerage, banking and financial planning services through financial advisors and private client groups.

See Also Five stocks we like better than Stifel Financial Block Makes a Federal Trust Bank Move That Could Reshape Its Fintech Model Kroger’s Textbook Entry for Buy-and-Hold Investors AST SpaceMobile Looks to Extend Its 30-Day FCC Satellite Testing Window Amgen Drops 10% on a Trial It Didn’t Even Run

Receive News & Ratings for Stifel Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stifel Financial and related companies with MarketBeat.com's FREE daily email newsletter.

MISSION Group (LSE:TMG) drew a bullish call from Stifel, which argued the marketing group's valuation overlooks a profit recovery driven by cost cuts and agency consolidation.

The shares traded at 23.85p, up 4%, while the broker initiated coverage with a 'buy' rating and a 57p target, more than double the share price.

Behind the recovery sits a £5 million cost-saving programme, followed by £4 million of additional gross annualised savings identified through agency integration under chief executive John Carey.

With the cost base reset, Stifel forecasts adjusted operating profit above 50% higher at £8 million for financial year 2026, on broadly flat revenue of £69 million.

Alongside those operational gains, lower interest costs and normalising tax rates underpin the broker's forecast for roughly 130% growth in adjusted diluted earnings per share.

Within the agency portfolio, Mongoose provides the main revenue growth engine, with the sports and events business forecast to deliver around 9% annual growth through 2028.

Yet Stifel's valuation analysis puts the shares at roughly four times projected 2027 operating profit, a 35% discount to the wider UK marketing and communications sector.

For evidence of underlying agency values, the note points to April Six's sale for approximately £10.5 million, equivalent to around ten times the agency's operating profit.

Further disposals could be a catalyst, with Stifel arguing certain agencies might fetch at least the group's entire market value and accelerate debt reduction.

Bank of New York Mellon Corp acquired a new stake in Stifel Financial Corporation (NYSE:SF – Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,336,318 shares of the financial services provider’s stock, valued at approximately $93,235,000. Bank of New York Mellon Corp owned about 0.87% of Stifel Financial at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in shares of Stifel Financial in the 3rd quarter valued at $29,000. Activest Wealth Management lifted its stake in Stifel Financial by 12,000.0% in the fourth quarter. Activest Wealth Management now owns 242 shares of the financial services provider’s stock valued at $30,000 after buying an additional 240 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Stifel Financial during the 4th quarter worth approximately $34,000. JTC Employer Solutions Trustee Ltd grew its holdings in Stifel Financial by 49.8% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 481 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 160 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new stake in Stifel Financial in the fourth quarter valued at $50,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stifel Financial In other news, Director Maryam S. Brown sold 4,700 shares of Stifel Financial stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total value of $372,240.00. Following the completion of the transaction, the director owned 5,729 shares of the company’s stock, valued at $453,736.80. The trade was a 45.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.36% of the stock is owned by insiders.

Stifel Financial Stock Performance Shares of Stifel Financial stock opened at $80.73 on Tuesday. Stifel Financial Corporation has a 12 month low of $67.81 and a 12 month high of $89.83. The firm has a market capitalization of $12.19 billion, a P/E ratio of 14.45 and a beta of 0.99. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $78.35 and a two-hundred day simple moving average of $76.41. Stifel Financial (NYSE:SF – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period last year, the business earned $1.71 EPS. Stifel Financial’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, equities analysts forecast that Stifel Financial Corporation will post 6.36 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Stifel Financial’s dividend payout ratio is currently 24.33%.

Wall Street Analyst Weigh In Several brokerages recently issued reports on SF. JPMorgan Chase & Co. upped their price target on Stifel Financial from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stifel Financial in a research note on Friday, May 29th. UBS Group set a $90.00 price target on shares of Stifel Financial in a research note on Thursday, July 23rd. Wall Street Zen downgraded shares of Stifel Financial from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Zacks Research upgraded shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.90.

Check Out Our Latest Report on Stifel Financial

(Free Report)

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.

See Also Five stocks we like better than Stifel Financial Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain Snowflake Could Be Headed for New Highs Despite Insider Selling MongoDB Is Surging—And the Next Catalyst Is Almost Here Want to see what other hedge funds are holding SF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stifel Financial Corporation (NYSE:SF – Free Report).

Receive News & Ratings for Stifel Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stifel Financial and related companies with MarketBeat.com's FREE daily email newsletter.

 | Source: Stifel Financial Corporation

ST. LOUIS, Aug. 27, 2026 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for July 31, 2026, to provide timely information to investors on certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

Ronald J. Kruszewski, Chairman and Chief Executive Officer, said, “Record fee-based client assets of $240 billion and total client assets of $578 increased 17% and 13%, respectively, year-over-year after excluding the impact of the SIA sale. Growth was driven by strong markets and solid recruiting. We remain on track to reach our full year loan guidance of $4 billion. Total loans grew more than 3% in the month of July led by continued strength in fund banking and residential mortgages. Treasury deposits increased more than $600 million in July, reflecting continued growth in venture deposits. Client money market and insured product balances declined by 5% during the month, primarily due to lower sweep balances.”

Selected Operating Data (Unaudited) As of % Change(millions)7/31/20267/31/2025(1)6/30/2026 7/31/20256/30/2026Total client assets$578,402
$522,303
$580,077
 11%
(0%)
Fee-based client assets$239,844
$209,084
$239,777
 15%
0%
Private Client Group fee-based client assets$209,901
$182,534
$210,049
 15%
(0%)
Bank loans, net (includes loans held for sale)$25,624
$21,605
$24,805
 19%
3%
Client money market and insured product(2)$24,062
$25,683
$25,398
 (6%)
(5%)
Treasury deposits(3)$11,501
$7,246
$10,839
 59%
6%
(1)   Total client assets and Private Client Group fee-based client assets as of July 31, 2025, include $9.8 billion and $4.6 billion, respectively, of client assets from the Stifel Independent Advisors business that was sold on February 2, 2026.
(2)   Includes Smart Rate deposits, Sweep deposits, Third-party Bank Sweep Program, and Other Sweep cash.
(3)   Includes Other Bank deposits and Third-party Commercial Treasury deposits, which represent Venture, Fund, and Commercial deposits at Stifel Bancorp and third-party banks.

Company Information

Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases.

Media Contact: Neil Shapiro (212) 271-3447 Investor Contact: Joel Jeffrey (212) 271- 3610 | www.stifel.com/investor-relations

Bank of Nova Scotia acquired a new stake in Stifel Financial Corporation (NYSE:SF – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 519,811 shares of the financial services provider’s stock, valued at approximately $36,267,000. Bank of Nova Scotia owned 0.34% of Stifel Financial at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. bought a new stake in Stifel Financial during the 2nd quarter valued at $1,031,197,000. AQR Capital Management LLC grew its holdings in Stifel Financial by 94.8% during the 4th quarter. AQR Capital Management LLC now owns 2,893,850 shares of the financial services provider’s stock worth $362,368,000 after acquiring an additional 1,408,347 shares in the last quarter. Norges Bank bought a new position in Stifel Financial during the 4th quarter worth about $172,446,000. Bank of New York Mellon Corp purchased a new position in Stifel Financial during the 2nd quarter valued at about $93,235,000. Finally, Algebris UK Ltd. bought a new stake in shares of Stifel Financial in the 2nd quarter valued at about $70,086,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stifel Financial In other news, Director Maryam S. Brown sold 4,700 shares of the stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $79.20, for a total value of $372,240.00. Following the sale, the director owned 5,729 shares in the company, valued at $453,736.80. This represents a 45.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.36% of the stock is owned by company insiders.

Stifel Financial Stock Down 0.0% Shares of SF stock opened at $80.95 on Monday. The stock’s 50-day simple moving average is $78.20 and its 200-day simple moving average is $76.43. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.88. The firm has a market capitalization of $12.22 billion, a PE ratio of 14.49 and a beta of 0.99. Stifel Financial Corporation has a fifty-two week low of $67.81 and a fifty-two week high of $89.83. Stifel Financial (NYSE:SF – Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.42 billion. Stifel Financial had a return on equity of 19.22% and a net margin of 16.11%.The company’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 earnings per share. Equities analysts expect that Stifel Financial Corporation will post 6.36 earnings per share for the current year.

Stifel Financial Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Stifel Financial’s dividend payout ratio is 24.33%.

Analyst Ratings Changes A number of equities analysts have recently issued reports on SF shares. UBS Group set a $90.00 price objective on shares of Stifel Financial in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Stifel Financial in a research note on Friday, May 29th. Wall Street Zen cut Stifel Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. lifted their price target on Stifel Financial from $80.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Finally, Zacks Research raised Stifel Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.90.

Get Our Latest Stock Analysis on SF

(Free Report)

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.

Read More Five stocks we like better than Stifel Financial VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding SF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stifel Financial Corporation (NYSE:SF – Free Report).

Receive News & Ratings for Stifel Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stifel Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Algebris UK Ltd. bought a new position in shares of Stifel Financial Corporation (NYSE:SF – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,007,696 shares of the financial services provider’s stock, valued at approximately $70,086,000. Stifel Financial comprises 4.6% of Algebris UK Ltd.’s holdings, making the stock its 7th largest holding. Algebris UK Ltd. owned approximately 0.67% of Stifel Financial as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SF. Fifth Third Bancorp increased its stake in Stifel Financial by 430.4% during the 1st quarter. Fifth Third Bancorp now owns 73,993 shares of the financial services provider’s stock worth $5,470,000 after purchasing an additional 60,042 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Stifel Financial by 49.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,209 shares of the financial services provider’s stock worth $2,824,000 after acquiring an additional 12,727 shares in the last quarter. Royal Bank of Canada increased its position in shares of Stifel Financial by 43.0% during the first quarter. Royal Bank of Canada now owns 143,081 shares of the financial services provider’s stock worth $10,578,000 after acquiring an additional 43,036 shares in the last quarter. Heartland Advisors Inc. increased its holdings in Stifel Financial by 56.3% during the 1st quarter. Heartland Advisors Inc. now owns 134,153 shares of the financial services provider’s stock worth $9,917,000 after purchasing an additional 48,346 shares in the last quarter. Finally, North Reef Capital Management LP bought a new position in Stifel Financial during the 1st quarter worth about $4,230,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Stifel Financial Stock Down 1.2% SF opened at $82.73 on Thursday. The stock’s fifty day simple moving average is $77.86 and its 200 day simple moving average is $76.46. Stifel Financial Corporation has a 1-year low of $67.81 and a 1-year high of $89.83. The stock has a market cap of $12.49 billion, a PE ratio of 14.81 and a beta of 0.99. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

Stifel Financial (NYSE:SF – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.09. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.71 earnings per share. As a group, research analysts expect that Stifel Financial Corporation will post 6.36 earnings per share for the current year. Stifel Financial Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 1st. Stifel Financial’s dividend payout ratio is currently 24.33%.

Insider Activity In related news, Director Maryam S. Brown sold 4,700 shares of Stifel Financial stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total transaction of $372,240.00. Following the completion of the sale, the director directly owned 5,729 shares of the company’s stock, valued at approximately $453,736.80. This trade represents a 45.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades A number of research firms have weighed in on SF. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stifel Financial in a research report on Friday, May 29th. UBS Group set a $90.00 target price on shares of Stifel Financial in a research report on Thursday, July 23rd. Wall Street Zen cut Stifel Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Zacks Research upgraded Stifel Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. boosted their price target on Stifel Financial from $80.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.90.

View Our Latest Analysis on Stifel Financial

(Free Report)

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.

Read More Five stocks we like better than Stifel Financial Bloom Energy’s AI Surge Meets a Valuation Reality Check Target Is Winning Shoppers Back—Can the Rally Reach $180? IonQ’s Space Contract Points to a New Frontier for Quantum Investors Is Apple’s AI Strategy Smarter Than Skeptics Think? Want to see what other hedge funds are holding SF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stifel Financial Corporation (NYSE:SF – Free Report).

Receive News & Ratings for Stifel Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stifel Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Posted by Defense World Staff on Aug 8th, 2026

Cetera Investment Advisers boosted its holdings in shares of Stifel Financial Corporation (NYSE:SF – Free Report) by 54.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,671 shares of the financial services provider’s stock after buying an additional 12,237 shares during the period. Cetera Investment Advisers’ holdings in Stifel Financial were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in Stifel Financial in the 3rd quarter worth approximately $29,000. Activest Wealth Management lifted its holdings in Stifel Financial by 12,000.0% during the fourth quarter. Activest Wealth Management now owns 242 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 240 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Stifel Financial during the 4th quarter worth approximately $34,000. Cullen Frost Bankers Inc. acquired a new position in shares of Stifel Financial during the fourth quarter valued at approximately $50,000. Finally, BOKF NA lifted its position in shares of Stifel Financial by 1,626.9% in the third quarter. BOKF NA now owns 449 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 423 shares in the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Stifel Financial Stock Performance NYSE:SF opened at $83.11 on Friday. Stifel Financial Corporation has a 12 month low of $67.81 and a 12 month high of $89.83. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market capitalization of $12.55 billion, a PE ratio of 14.88 and a beta of 0.99. The business’s fifty day moving average price is $75.61 and its 200 day moving average price is $76.57.

Stifel Financial (NYSE:SF – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.09. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.42 billion. Stifel Financial had a return on equity of 19.22% and a net margin of 16.11%.The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 EPS. On average, sell-side analysts anticipate that Stifel Financial Corporation will post 6.36 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 1st. Stifel Financial’s payout ratio is currently 24.33%.

Insider Buying and Selling at Stifel Financial In related news, Director Maryam S. Brown sold 4,700 shares of Stifel Financial stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $79.20, for a total transaction of $372,240.00. Following the sale, the director directly owned 5,729 shares in the company, valued at $453,736.80. This trade represents a 45.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 3.36% of the company’s stock.

Wall Street Analysts Forecast Growth A number of analysts have commented on SF shares. UBS Group set a $90.00 price objective on shares of Stifel Financial in a report on Thursday, July 23rd. JPMorgan Chase & Co. increased their price target on Stifel Financial from $80.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded Stifel Financial from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Zacks Research raised shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stifel Financial in a research note on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Stifel Financial currently has an average rating of “Moderate Buy” and an average target price of $91.90.

Check Out Our Latest Analysis on Stifel Financial

Stifel Financial Company Profile (Free Report)

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.

Read More Five stocks we like better than Stifel Financial Datadog’s Drop Says More About Expectations Than Earnings D-Wave’s Quantum Breakthrough Couldn’t Save QBTS From a Sell-Off Cloudflare’s Beat-and-Raise Quarter Puts Its AI Edge Story in Focus Solventum Nears Inflection Point As It Begins to Unlock Value

Receive News & Ratings for Stifel Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stifel Financial and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEEmpowered Funds LLC Has $165.11 Million Stock Holdings in Meta Platforms, Inc. $META

NEXT HEADLINE »Cetera Investment Advisers Has $2.54 Million Position in Amkor Technology, Inc. $AMKR

, /PRNewswire/ -- 1919 Investment Counsel, LLC ("1919"), a subsidiary of Stifel Financial Corp. ("Stifel"), is proud to announce its recognition as one of Financial Advisor Magazine's 2026 Top RIA Firms. Ranked No. 31 among more than 500 firms nationwide, 1919 has again earned a place on Financial Advisor Magazine's Top RIA Firms list, reflecting the firm's continued growth and commitment to helping clients achieve their long-term financial goals.

Financial Advisor Magazine's annual Top RIA Firms ranking is a respected industry survey that evaluates and ranks independent wealth management firms based on assets under management (AUM). The list measures firm size and tracks year-over-year growth, using data from the 12-month period ending December 31, 2025. The 2026 rankings were released on July 10, 2026.

"We are honored to be recognized among the nation's leading RIAs again this year," said Meredith Mowen, Managing Director, Portfolio Manager, and Head of 1919's Baltimore Office. "This recognition reflects the trust our clients place in us, the dedication of our associates, and our continued commitment to delivering thoughtful advice and exceptional service. We are grateful for the opportunity to help individuals, families, foundations, and endowments pursue their financial objectives and build lasting legacies for generations to come."

Learn more about our approach to wealth management and explore our services at 1919ic.com.

About 1919 Investment Counsel:

1919 Investment Counsel ("1919") is a registered investment advisor. Its mission for more than 100 years has been to provide investment counsel and insight that helps individuals, families, foundations, and endowments achieve their financial goals. The firm is headquartered in Baltimore and has offices across the country in Birmingham, Cincinnati, New York, Philadelphia, San Francisco, and Vero Beach. For more information on 1919's services, please visit https://1919ic.com. No fee was paid for participation in the rankings, which were published in July 2026 and apply until July 2027. Each publication uses a proprietary ranking methodology, for which additional information can be provided upon request. See disclosures here: https://1919ic.com/forms-disclosures/.

About Stifel:

Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company's broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company's website at www.stifel.com. For global disclosures, please visit Stifel global disclosures.

Media Contacts:

Ian McEneaney
(212) 554-7159
[email protected]

Kat Weber 
(212) 554-7124
[email protected]

SOURCE 1919 Investment Counsel, LLC

Custom Health Holdings Inc (TSX:CHLT) just landed Buy-rated coverage from Stifel, with analysts setting a C$12 price target and pointing to upside as high as C$18 a share.

The pitch: a pill-dispensing platform that's quietly solving one of healthcare's most expensive headaches.

That headache is medication non-adherence, which costs the US healthcare system an eye-watering $0.5 trillion a year. Only about half of prescriptions get taken as directed, and the fallout, hospitalizations, ER visits, disease progression, adds up fast.

Custom Health's answer is a full-stack system: a device called Spencer that dispenses and monitors pills at home, an AI-powered platform called AdhereNet, and a network of automated pharmacies behind it. Stifel says the result is a 98% adherence rate, far above the industry norm.

Insurers have taken notice. Custom Health already has more than 100,000 patients contracted through deals with major US health plans, including Humana (NYSE:HUM), Elevance and BlueCross BlueShield, plus pain management specialists Commonwealth and BKC. Stifel expects the company to nearly triple its active patient count next year, from about 6,000 to 17,000, helped along by its recent acquisition of InnovativeRx, with revenue more than doubling.

One area where Custom Health has a particularly good story to tell: opioids. The platform helps physicians safely wean patients off opioid prescriptions, which lines up with the NOPAIN Act, a law that kicked in this past January and sweetens Medicare reimbursement for opioid-reduction efforts. Better adherence also tends to boost Medicare Star ratings, translating into higher rebates and bonus payments for health plans.

The typical Custom Health patient is in their 50s or 60s and juggling more than 10 chronic medications, exactly the population set to grow as the US and Canada keep aging.

Stifel thinks the InnovativeRx deal could unlock 4x revenue growth over the next two to three years as Custom Health works through 30,000 of the 100,000 patients already under contract, with more acquisitions still on the table.

The margin story is arguably the most compelling part: the Spencer device alone represents close to a $200 million recurring revenue opportunity at gross margins north of 60%. Layered on top of traditional pharmacy dispensing margins around 20%, Stifel sees a path to EBITDA margins in the high teens, well above what most pharmacy peers manage.

Stifel's initiation wasn't the only news out of Custom Health this month. The company has since signed a binding letter of intent to acquire Wisconsin-based Evergreen Pharmacy LLC, a deal expected to add more than US$78 million in annual revenue.

The price tag is modest relative to that boost: US$3.5 million total, including at least US$1 million in prescription drug inventory and US$450,000 in net working capital, cash on closing, with US$175,000 held back for six months as an indemnity cushion.

Evergreen is licensed to operate in Wisconsin, Illinois and Michigan, with room to expand into Minnesota, and specializes in managing complex therapies across behavioral health, dermatology, gastroenterology, infectious disease, rheumatology and neurology. It brought in about US$78.8 million in revenue and US$0.6 million in normalized EBITDA for the 12 months ended December 31, 2025, and posted positive net income in both fiscal 2025 and the first quarter of 2026.

For Custom Health, the deal fits neatly with the growth story Stifel laid out: more patients on complex drug regimens, a bigger Midwest footprint, and another building block toward that four-times revenue potential.

Ron Kruszewski, Stifel chairman and ceo, says artificial intelligence will lead to productivity gains. He says financial advisers are still valuable and AI can help them.

MGM Buyout: The House Doesn't Always WinStifel Financial NYSE: SF reported what executives described as the strongest first half in the company’s history, with second-quarter revenue and earnings rising from a year earlier as wealth management, investment banking and net interest income all contributed to growth.

Chairman and CEO Ron Kruszewski said the firm is delivering on the plan it outlined at the start of 2026: growing revenue, expanding its loan book, increasing treasury deposits, improving operating leverage and deploying excess capital. “Six months into the year, we’re doing what we said we would do,” Kruszewski said on the company’s earnings call.

Get Stifel Financial alerts:

MarketBeat Week in Review – 03/16 - 03/20Second-quarter net revenue totaled $1.45 billion, up 13% from a year earlier. Non-GAAP earnings per share were $1.42, up 25%. Kruszewski said both metrics represented the company’s second-highest second-quarter results ever. For the first half, Stifel generated record net revenue of $2.9 billion, up 15% from its prior record, and earnings per share of $2.87, up 28% from its prior record. Return on tangible common equity was approximately 24% for both the quarter and the first half, while tangible book value per share increased 15% from the prior year.

Wealth Management Revenue Hits Record Chief Financial Officer Jim Marischen said Global Wealth Management generated record net revenue of $957 million, up 13% year over year. Results were driven by transactional revenue, growth in net interest income and higher asset management revenue.

Stifel Financial: A Wealth Manager’s Stock for Wealth InvestorsTotal client assets stood at $580 billion, while fee-based assets were $240 billion, up 12% and 16%, respectively, as Stifel benefited from stronger equity markets and net new asset growth. Excluding the impact of assets associated with the sale of SIA, total client assets and fee-based assets increased more than 14% and 19%, respectively, Marischen said.

Stifel also continued to grow its balance sheet, increasing its loan book by $2.6 billion during the quarter. Marischen said that included an incremental $2 billion in fund banking loans. The company remains on pace to meet its full-year guidance of up to $4 billion of loan growth.

Based on loan growth and a stable net interest margin, Marischen said Stifel expects third-quarter net interest income in the range of $290 million to $300 million. Over the past year, combined wealth management and treasury deposits increased by approximately $3.3 billion, including a more than $1 billion increase in sweep deposits and a $3.8 billion increase in treasury deposits, partially offset by a decline in Stifel Smart Rate balances.

Investment Banking Drives Institutional Growth Stifel’s Institutional Group posted revenue of $481 million, up 15% from a year earlier and the segment’s second-strongest second quarter in company history. First-half institutional revenue rose 21%, driven by a more than 43% increase in investment banking revenue.

Firmwide investment banking revenue totaled $332 million in the second quarter, up 42% year over year. Advisory revenue increased 24% to $157 million, with strength in financials, industrials and technology. Capital raising revenue rose 121% to $102 million, supported by issuer engagement in healthcare, industrials, energy and financials. Fixed income underwriting revenue increased 18% to $64 million, driven by public finance activity and higher corporate issuance.

Marischen said Stifel remains the No. 1 negotiated issue manager in public finance by deal count, with a 14% market share year to date. He said investment banking and advisory pipelines remain “very strong,” with active strategic dialogue and a reopened new issue market. Financial sponsor activity remains below historical levels, which executives said could provide upside if it recovers.

Transactional revenue declined 19% year over year, primarily due to lower fixed income revenue. Marischen noted that the prior-year period benefited from a roughly $30 million gain in the company’s aircraft business. Excluding that gain, results would have been relatively comparable to a year ago. Equity transactional revenue fell 4%, reflecting the impact of Stifel’s European restructuring.

Expenses, Capital Deployment and Buybacks Stifel continued to emphasize expense discipline. Marischen said the company lowered its compensation ratio to 57%, down 50 basis points sequentially from the first quarter and below consensus expectations. He attributed the improvement to the strong operating environment, the European reorganization and the sale of SIA. Assuming market conditions hold up, he said Stifel expects additional compensation flexibility in the second half and could land in the midpoint to lower half of its full-year compensation ratio guidance range of 56.5% to 57.5%.

Non-compensation expenses totaled $309 million, up 11% year over year, with the increase tied largely to business growth, including higher investment banking gross-ups, credit provisions, advertising and data processing. The operating non-compensation ratio was 19.6%, within the company’s full-year guidance range of 18% to 20%.

Stifel also deployed capital through business reinvestment, share repurchases and dividends. Kruszewski said those actions totaled more than $500 million in the second quarter. The company repurchased 2.4 million shares during the quarter and had 7.8 million shares remaining under its current authorization at quarter-end.

Marischen said Stifel ended the quarter with a Tier 1 leverage ratio of 11.2% and a Tier 1 risk-based capital ratio of 17.3%, reflecting deliberate capital deployment into loan growth. Based on a 10% Tier 1 leverage target, the company had nearly $480 million of excess capital after funding loan growth and repurchases.

AI Viewed as Productivity Tool, Not Replacement Kruszewski spent part of the call addressing artificial intelligence, saying he does not view AI as a replacement for financial advisors or other professionals. Instead, he described it as a productivity accelerator that can help bankers evaluate more opportunities, research analysts uncover more insights and advisors spend more time with clients.

“Markets sometimes confuse access to information with judgment,” Kruszewski said. “AI is making information more abundant. That only increases the value of judgment, trust, and relationships.”

He said advisor recruiting remains highly competitive despite market concerns that AI could diminish the value of financial advice. Stifel was ranked No. 1 in employee advisor satisfaction by J.D. Power for the fourth consecutive year, a recognition Kruszewski said reflected the firm’s focus on supporting advisors.

Executives Point to Constructive Second Half Looking ahead, Kruszewski said the broader market remains constructive, though volatility and geopolitical uncertainty remain risks. He said the economy is healthy, client dialogue is high and capital markets activity continues to broaden.

In response to analyst questions, Kruszewski said he remains optimistic about investment banking momentum across Stifel’s diversified platform, including healthcare, industrials, technology and energy. He added that bank M&A activity remains muted relative to longer-term expectations, but active dialogue continues.

On acquisitions, Kruszewski said Stifel remains disciplined and evaluates opportunities based on return on invested capital. Given current valuations in financial services, he said one of the most attractive uses of capital remains investing in Stifel’s own business and repurchasing shares when management sees a disconnect between the company’s outlook and its stock price.

“We’re building a stronger, more valuable Stifel,” Kruszewski said. “While we’re proud of what we’ve accomplished in the first half of the year, we’re even more excited about where we’re headed.”

About Stifel Financial (NYSE:SF)Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm's main business activities are organized into two core segments: Private Client Group and Institutional Group.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Stifel Financial Right Now?Before you consider Stifel Financial, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stifel Financial wasn't on the list.

While Stifel Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.

Get This Free Report

ST. LOUIS, July 22, 2026 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported net revenues of $1.45 billion for the three months ended June 30, 2026, compared with $1.28 billion a year ago. Net income available to common shareholders was $217.2 million, or $1.34 per diluted common share, compared with $145.7 million, or $0.89 per diluted common share (1) for the second quarter of 2025.

Firm Ranks No. 1 in Overall Employee Advisor Satisfaction and Three Individual Categories July 09, 2026 12:26 ET  | Source: Stifel Financial Corporation

ST. LOUIS, July 09, 2026 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) announced that its Stifel, Nicolaus & Company, Incorporated broker-dealer subsidiary ranked No. 1 in employee advisor satisfaction among wealth management firms in the JD Power 2026 U.S. Financial Advisor Satisfaction StudySM.

This marks Stifel’s fourth consecutive year earning the top ranking, based on feedback from its advisors. Stifel achieved an overall score of 812 out of 1,000 – 180 points higher than the employee segment average.

In addition to finishing No. 1 overall, Stifel ranked first in three individual categories: leadership and culture, operational support, and products and marketing.

“Earning the No. 1 ranking from JD Power for the fourth consecutive year is a meaningful milestone for our firm,” said Ron Kruszewski, Chairman and CEO of Stifel. “Our advisors are the foundation of our success, and this recognition reflects the strength of our culture and our unwavering commitment to supporting their independence, growth, and ability to serve clients. While we are proud of this achievement, we are even more focused on what comes next. We will continue investing in the people, technology, and innovation that empower advisors to deliver exceptional advice and an outstanding client experience. We believe AI presents an extraordinary opportunity to enhance – not replace – the advisor by reducing friction, improving insights, and giving advisors more time to do what they do best: build trusted relationships and help clients achieve their financial goals.”

“Consistency at this level doesn’t happen by accident. It comes from continuous investment in our advisors and a deep understanding of what they need to succeed,” said Jim Zemlyak, President of Stifel and Head of Global Wealth Management. “Advisor expectations continue to evolve, and so will we. We remain committed to delivering the technology, operational support, and resources that help advisors grow their businesses while providing an exceptional experience for their clients.”

Stifel serves clients from more than 400 offices across the U.S. with approximately $580 billion in client assets as of May 31, 2026.

Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement. To learn more about Stifel, please visit the Company’s website at Stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases.

For further information, contact:
Brian Spellecy
(314) 342-2000

Victrex PLC (LSE:VCT) has spent much of the past seven years falling short of the standards it set during its heyday, but Stifel believes the specialist polymer maker is approaching an inflection point under new chief executive Jakob Sigurd Routh.

The broker initiated coverage with a 'buy' rating and a 750p price target, arguing that with the FTSE 250 group's earnings at the lowest level since 2009, risk is "asymmetrically upside weighted" and the shares offer "an attractive entry point".

Victrex is the market leader in PEEK, a high-performance polymer used as a lightweight alternative to metal in sectors including aerospace, electronics, energy and medical devices.

Its financial performance was strong between 2003 and 2018, with adjusted operating profit increasing more than fivefold to around £127 million.

Since then, however, revenue has fallen and gross margins have contracted to 45.3% from much higher levels, hit by increased Chinese competition, weakness in spinal implants, operational challenges and losses at its manufacturing facility in China.

Stifel said Routh, who joined from AB Dynamics in January, has moved quickly to address those issues. A profit improvement plan is targeting more than £10 million of savings in the 2027 financial year through lower overheads, operational efficiencies and a simplified product range.

Investors are also looking ahead to a capital markets day in September, when Routh and co are expected to outline a broader turnaround strategy, including plans for the China facility, capital allocation priorities and medium-term financial targets.

The broker argues the shares look inexpensive at around 13 times forward earnings, a discount to their five-year average valuation, despite a strong balance sheet and the prospect of improving profitability.

KILLINGTON, Vt.--(BUSINESS WIRE)--Great Gulf, the developer of the vibrant master-planned mountain resort community at Killington, announced today that it will return as the exclusive Diamond sponsor of the Stifel Killington Cup, taking place November 28-29. As part of the partnership, Great Gulf will again be the Official Presenting Sponsor of the VIP Tent at the Audi FIS Ski World Cup. Great Gulf's continued investment in the event reflects its long-term commitment to the Killington community.

Stifel Financial NYSE: SF recently finished one of its strongest years ever and then split its stock. Clearly, the company feels optimistic. But the question is, should shareholders?

Maybe not a household name, but Stifel is making money by catering to households, institutions, and others. Managing client investments and advising companies on deals and in the capital markets, the company is doing more business with more clients. That’s partly thanks to last year’s rebound on Wall Street activity, but also from investors moving more of their money to Stifel.

Get Stifel Financial alerts:

Stifel's Growing Revenue and Operating Results To recap growth at Stifel: net revenue rose about 11% to a record $5.53 billion last year, the first time it climbed above $5 billion in the company’s 135-year history. The company then split its stock and raised its dividend. Overall, Stifel reported net income of $646.5 million with earnings per share (EPS) at $5.87.

Stifel Financial Today

SF

Stifel Financial

$72.70 +1.31 (+1.83%)

As of 02:05 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$62.90▼

$89.83Dividend Yield1.87%

P/E Ratio14.16

Price Target$91.15

Although EPS declined from 2024, the numbers don't reflect a slowdown in business. The net figure includes a $180 million legal expense taken in last year’s first quarter stemming from a FINRA case involving a former broker and client. The company says it’s appealing the ruling. Operationally, Stifel delivered earnings per share of $7.92 with a pre-tax margin of 21%, the company’s CEO said during an earnings call.

Further, as of the fourth quarter, Stifel showed it was putting shareholder money to good use, with its adjusted return on tangible common equity coming in at a very strong 31.1%.

The wealth‑management arm of Stifel is the steady, recurring part of its story. At the end of 2025, client assets reached $552 billion, up 10% from a year earlier, reflecting both market gains and money coming in. Within that, fee‑based assets rose 16% to $224.5 billion dollars. Net revenue at the unit rose 8% to $3.54 billion. The company’s investment banking unit saw revenue climb 26% to $1.2 billion.

Dividends Keep Going Up Stifel Financial Stock Forecast Today12-Month Stock Price Forecast:
$91.15
25.37% Upside

Moderate Buy
Based on 10 Analyst Ratings

Current Price$72.71High Forecast$103.33Average Forecast$91.15Low Forecast$80.67Stifel Financial Stock Forecast Details

Stifel also has a habit of returning cash to shareholders. The company announced in January that it was raising its quarterly dividend 11% to 51 cents per share. It was its ninth consecutive annual raise. Along with that, the company announced a 3-for-2 stock split.

Beyond the impressive raw numbers, valuation is where investors' personal judgment comes into play. Recent data show Stifel trading at a trailing price‑to‑earnings ratio around 20 and offering a dividend yield under 2%.

Analysts on Wall Street are generally positive but not overly excited, which could mark an opportunity. The consensus rating on the stock is a Moderate Buy, with a small majority of analysts slating the shares as a Buy. The average 12‑month price target is around $90, with the highest target above $100.

This all points to expectations of a steady, reasonable upside rather than a quick jump in valuation, suggesting Stifel is viewed more as a long‑term play rather than a short‑term trade.

Market Risks Are Obvious But when you play the market with a stock that’s dependent on the market, there’s always risk. Stifel’s investment‑banking business got a lift in 2025 as companies returned to the capital markets for deals and financing. But that activity can dry up quickly if the economy slows or stocks sell off, which would hit fee revenue and profits.

Stifel also runs a sizeable $32 billion bank, and like any lender, it faces credit risk if borrowers run into trouble.

Competition is another ongoing challenge. Stifel has to win advisors and clients from much larger players in the broader sector, such as Morgan Stanley NYSE: MS and Raymond James Financial NYSE: RJF, which have deep pockets and strong technology platforms.

A Competitive Future With Potential To keep up and keep growing, Stifel will need to keep investing in its systems, digital tools, and people. Those investments can squeeze profit margins if revenue growth slows. The trade‑off is clear: the company can keep gaining share in attractive markets, but it may need to spend aggressively to stay competitive.

Still, if market activity continues and wealth management keeps the appeal it now has, Stifel should benefit nicely. The company brings together a growing wealth‑management and advisory franchise, strong profitability metrics, a dividend that has been rising for years, and a new stock split. That will make the shares more accessible, all at a valuation that looks reasonable rather than stretched.

The business is tied to markets and deal activity, so expect more ups and downs than you would get from a utility or consumer staples stock. For patient investors building a diversified portfolio of financials, though, Stifel looks like a good candidate to buy on market pullbacks and then hold through the typical market cycles.

Should You Invest $1,000 in Stifel Financial Right Now?Before you consider Stifel Financial, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Stifel Financial wasn't on the list.

While Stifel Financial currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat's analysts have just released their top five short plays for June 2026. Learn which stocks have the most short interest and how to trade them. Click the link to see which companies made the list.

Get This Free Report

March 26, 2026 16:15 ET  | Source: Stifel Financial Corporation

ST. LOUIS, March 26, 2026 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for February 28, 2026, to provide timely information to investors on certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.

Ronald J. Kruszewski, Chairman and Chief Executive Officer, said, “On February 2, 2026, we completed the sale of Stifel Independent Advisors, LLC. Excluding assets related to this transaction, total client assets and fee-based client assets increased 12% and 19% year-over-year, driven by equity market appreciation and strong advisor recruiting. Client money market and insured products rose 1% from January, while venture banking growth increased treasury deposits by more than $400 million. Despite recent market volatility, first-quarter 2026 investment banking activity remains well above prior-year levels, and we expect revenue to increase 30%–40% versus the first quarter of 2025.”

Selected Operating Data (Unaudited) As of% Change(millions)2/28/20262/28/2025(1)1/31/2026(2)2/28/20251/31/2026Total client assets$557,714$506,475$561,06110%(1)%Fee-based client assets$228,012$196,380$229,42316%(1)%Private Client Group fee-based client assets$199,191$171,760$201,39616%(1)%Bank loans, net (includes loans held for sale)$22,348$21,201$22,3115%0%Client money market and insured product(3)$26,030$27,737$25,911(6)%1%Treasury deposits(4)$9,584$5,557$9,13973%5%   (1)Total client assets and Private Client Group fee-based client assets as of February 28, 2025, include $9.3 billion and $4.3 billion, respectively, of client assets from the Stifel Independent Advisors business that was sold on February 2, 2026.(2)Total client assets and Private Client Group fee-based client assets as of January 31, 2026, include $10.0 billion and $4.9 billion, respectively, of client assets from the Stifel Independent Advisors business that was sold on February 2, 2026.(3)Includes Smart Rate deposits, Sweep deposits, Third-party Bank Sweep Program, and Other Sweep cash.(4)Includes Other Bank deposits and Third-party Commercial Treasury deposits, which represent Venture, Fund, and Commercial deposits at Stifel Bancorp and third-party banks.   Company Information

Stifel Financial Corp. (NYSE: SF) is a diversified financial services firm providing wealth management, commercial and investment banking, trading, and research services to individuals, institutions, and municipalities. Founded in 1890 and headquartered in St. Louis, Missouri, the firm operates more than 400 offices across the United States and in major global financial centers. As a firm where success meets success, Stifel works closely with retail and institutional clients aiming to transform opportunities into achievement. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases.

Media Contact:
Neil Shapiro
(212) 271-3447

Investor Contact:
Joel Jeffrey
(212) 271- 3610