SF · Stifel Financial Corp.

Stifel Financial Corp. reported a strong first quarter for 2026, with net revenues of $1.48 billion, the second best in its history, and GAAP diluted EPS of $1.48, a significant increase from $0.26 in the prior year quarter. The results were driven by robust performance across both operating segments. Investment banking revenues surged 44% year-over-year, led by a 59% increase in advisory revenues and a 22% increase in capital raising revenues. Asset management revenues reached a record $459 million, up 12%, reflecting higher asset values and net new asset growth. Global Wealth Management net revenues increased 10% to $932 million, with a pre-tax margin of 35.5%, up from 14.9% a year ago, benefiting from lower litigation expenses and provision for credit losses. Institutional Group net revenues rose 29% to $495 million, with a pre-tax margin of 19.8% versus 7.1% in the prior year, driven by higher investment banking and fixed income transactional revenues. The company also completed the sale of Stifel Independent Advisors on February 2, 2026, which contributed a gain. Management noted that client engagement remains high and investment banking pipelines are among the strongest they have seen. The company repurchased $224.4 million of common stock during the quarter and declared a quarterly dividend of $0.34 per share. Overall, the results underscore the durability and diversification of Stifel's business model.