Core Insights - Keefe, Bruyette & Woods, Inc. announces index rebalancing for the second quarter of 2025, specifically affecting the KBW Nasdaq Premium Yield Equity REIT Index [1][2] - The rebalancing will take effect before the market opens on June 23, 2025, with SITE Centers Corp. being dropped from the index [2] Company Overview - KBW is a leading independent authority in the financial services sector, established in 1962, and is a wholly owned subsidiary of Stifel Financial Corp. [4] - The firm specializes in research, corporate finance, mergers and acquisitions, as well as sales and trading in equities securities of financial services companies [4]

ST. LOUIS, June 11, 2025 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced that Victor Nesi, Co-President and Head of the Institutional Group, will retire from his day-to-day operating responsibilities effective July 1, 2025, after 16 years of distinguished service. Mr. Nesi will, however, continue to serve the firm, simultaneously joining its Board of Directors. “Victor has been instrumental in building the platform we have today,” said Ronald J. Kruszewski, Chairman and CEO of Stifel. ...

Core Insights - Five brokerage firms have agreed to pay over $19 million in a multistate settlement due to excessive commissions levied on retail investors, particularly on small-dollar transactions [1][11] Settlement Details - The firms will pay up to $9.87 million in fines and costs, in addition to settlement charges to affected clients [2] - Over five years, the firms imposed approximately $19 million in commissions across 1.12 million trades [5] Violations and Regulatory Findings - The North American Securities Administrators Association (NASAA) stated that the firms violated state securities laws by applying minimum commission charges often exceeding 5% of the transaction value on low-value transactions, contrary to FINRA Rule 2121 [3][11] - Minimum fees ranged from $25 to $95 per trade, disproportionately affecting low-dollar trades [3] Individual Firm Penalties - Edward Jones accounted for over $11 million in commission charges on more than 780,000 trades and will pay a $100,000 fine and $25,000 in investigative expenses [6] - LPL Financial imposed $2.49 million in excessive commissions on over 127,000 trades and will pay a $25,000 fine [7] - RBC Capital Markets charged nearly $3.4 million with a minimum commission of $95 and will pay a $25,000 fine [7] - Stifel charged a $40 minimum commission, resulting in $885,480.13 across roughly 45,000 transactions, and will pay $30,000 to Massachusetts [8] - TD Ameritrade charged over $913,000 in excessive commissions and will pay a $15,000 fine along with $35,000 in investigative costs [9] Corrective Measures - The firms are required to revise internal policies and supervisory procedures to prevent such practices, ensuring commissions on equity trades do not exceed 5% of the trade's principal amount without documented exceptions [10] Broader Implications - More than 20 additional states have expressed interest in joining the settlement, which could increase fines and regulatory pressure on these firms [12]

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Financial Data and Key Metrics Changes - Stifel achieved record net revenues of $4.97 billion in 2024, the highest in the firm's history [14] - Non-GAAP earnings totaled $756 million, equating to $6.81 per share, reflecting a 46% increase from the previous year [15] - The return on tangible common equity was 22.7% on a non-GAAP basis, and the share price rose by 56.4% in 2024 [15] Business Line Data and Key Metrics Changes - Global Wealth Management revenue reached $3.3 billion, up from $3 billion in 2023, with asset management revenue increasing by 18% [24] - The Institutional Group generated $1.6 billion in revenue, a 30% increase from 2023, with investment banking revenue at $973 million, including a 24% rise in advisory revenue [29] - Stifel Bancorp closed the year with over $31 billion in assets, maintaining a conservative risk profile while expanding support for wealth and investment banking platforms [27] Market Data and Key Metrics Changes - The U.S. economy grew by 2.8% in 2024, despite inflation remaining above the Fed's target, ending the year at 2.8% [17] - The S&P 500 rose by 23.3% in 2024, while the NASDAQ increased by 28.6%, driven by gains in mega-cap tech and AI stocks [19] - In 2025, trade war headlines raised stagflation concerns, with the ten-year treasury yield hovering around 4.4% [20] Company Strategy and Development Direction - The company aims for long-term goals of $10 billion in revenue and $1 trillion in client assets, viewing these as milestones rather than endpoints [16] - Stifel is focusing on enhancing its AI capabilities to improve client service and operational efficiency, with a three-tier strategy for AI implementation [34][35] - The "One Stifel" initiative aims to unify client experiences across all business lines, emphasizing investment in training and leadership development [32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the U.S. economy and the health of the markets, despite recent volatility [21] - The company acknowledges the shifting global trade landscape and aims to remain agile and disciplined in response to these changes [23] - Management highlighted the importance of technology in reshaping the industry and enhancing client service [23] Other Important Information - Stifel's annualized dividend increased by 10% from $1.68 to $1.84 per share, reflecting strong financial performance [15] - The firm was recognized for its advisor satisfaction, ranking number one in the J.D. Power study for the second consecutive year [26] Q&A Session Summary - There were no questions raised during the Q&A session [40]

ST. LOUIS, June 02, 2025 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced the completion of its acquisition of Bryan, Garnier & Co. (“Bryan Garnier”), a leading independent full-service investment bank specializing in the European technology and healthcare sectors. “Bryan Garnier brings focused sector expertise, an entrepreneurial mindset, and a strong reputation for trusted advice—qualities that align closely with Stifel’s values and strategy,” said Ronald J. Kruszewski, Chairman and C ...

Core Insights - Stifel Financial Corp. reported year-over-year increases in client and fee-based assets for April 2025 despite equity market volatility [1][2] Group 1: Operating Results - Total client assets rose 7% year over year in April 2025 to $485.6 million, driven by market appreciation and successful recruitment of financial advisors [2] - Fee-based client assets increased 11% year over year in April to $190.5 million, remaining steady compared to March 2025 [2] - Private Client Group's fee-based client assets were $166 million as of April 30, 2025, up 11% from the previous year and flat with the prior quarter [3] - Bank loans, net, including loans held for sale, were $21.5 million as of April 2025, reflecting an 8% year-over-year increase and a 1% sequential increase [3] Group 2: Client Balances - Client money market and insured product balances decreased by 1% year over year and 5% sequentially in April, attributed to typical seasonality affecting smart rate and sweep deposits [4] Group 3: Market Performance - Stifel's total client assets and fee-based assets growth indicates strong client engagement and portfolio value [5] - A rise in bank loans suggests a positive trend in lending activities and revenue growth [5] - Stifel shares have declined 19.2% over the past six months, contrasting with a 0.8% rise in the industry [6]

ST. LOUIS, May 22, 2025 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for April 30, 2025 in an effort 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, “Total client assets and fee-based assets increased 7% and 11%, respectively, from the same period a year ago, due ...

Core Points - U.S. Ski & Snowboard and Stifel Financial Corp. have renewed their partnership for an unprecedented 8 years, marking the largest partnership in the history of U.S. Ski & Snowboard [1][2] - The partnership will support various teams including alpine, cross country, freeski, and Para alpine, and aims to enhance the visibility and performance of U.S. athletes [2][3] Partnership Impact - The extended partnership is viewed as a generational investment, enabling innovative initiatives that have positively impacted the organization and its athletes [3] - Since the partnership began in 2022, the Stifel U.S. Ski Team has achieved record-breaking performances and increased visibility for U.S. athletes [3][4] Organizational Growth - U.S. Ski & Snowboard has expanded its World Cup events in North America from four to a record 11 for the 2024-25 season, with significant increases in audience engagement [4] - The organization reported over 30 billion earned media impressions and a 70% increase in social media impressions [4] Financial Performance of Stifel - Stifel achieved net revenues of $4.97 billion in 2024, the highest in its history, with a 23% return on average tangible equity and non-GAAP net earnings of $756 million, reflecting a 46% increase from the previous year [5] - Stifel's share price increased by 56.4% over the year, indicating strong financial health [5] Athlete Support and Programs - Stifel has launched various programs to support athletes, including the Stifel HERoic Cup and the Stifel Bibbo Award, aimed at promoting women's sports and recognizing athlete achievements [6][8] - A new performance bonus program for athletes and coaches will be implemented based on key results during the season [8] Brand Visibility - The Stifel brand will continue to be prominently displayed on team uniforms and event signage, enhancing brand recognition across digital and broadcast platforms [7]

Financial Performance - For the three months ended March 31, 2025, net revenues increased by 7.9% to $1.3 billion from $1.2 billion during the comparable period in 2024[228]. - Net income available to common shareholders decreased by 71.7% to $43.7 million, or $0.39 per diluted common share, compared to $154.3 million, or $1.40 per diluted common share in the same period last year[228]. - Investment banking revenues increased by 11.2% to $237.9 million from $213.9 million in the comparable period in 2024[238]. - Asset management revenues rose by 11.4% to a record $409.5 million from $367.5 million in the comparable period in 2024[242]. - For the three months ended March 31, 2025, net interest income increased by 3.9% to $262.1 million from $252.2 million in the same period in 2024[246]. - Total non-interest expenses increased by 26.2% to $1.2 billion from $944.3 million in the same quarter last year[250]. - Income before income taxes for the Global Wealth Management segment fell by 56.5% to $126.4 million from $290.7 million year-over-year[267]. - Global Wealth Management net revenues increased 7.6% to $850.6 million from $790.5 million for the comparable period in 2024[268]. - Institutional Group net revenues increased 9.5% to $384.9 million from $351.4 million for the comparable period in 2024[295]. Expenses and Costs - Compensation and benefits expenses increased by 7.7% to $732.2 million, comprising 58.3% of total non-interest expenses[233]. - Other operating expenses skyrocketed by 170.4% to $290.8 million, largely due to legal-related expenses and investment banking transaction costs[258]. - Non-interest expenses for Global Wealth Management increased 44.9% to $724.2 million from $499.8 million for the comparable period in 2024[285]. - Non-interest expenses for the Institutional Group increased 13.8% to $357.5 million from $314.3 million for the comparable period in 2024[303]. - Compensation and benefits expense for the Institutional Group increased 17.1% to $252.6 million from $215.7 million during the comparable period in 2024[304]. Acquisitions and Growth Strategy - The company signed a definitive agreement to acquire Bryan, Garnier & Co., an independent investment bank focused on European technology and healthcare, expected to close in Q2 2025[226]. - The acquisition of a portion of B. Riley Financial, Inc.'s traditional wealth management business added 36 advisors with approximately $4 billion in assets under management[227]. - The company plans to focus on revenue growth by recruiting experienced financial advisors and seeking opportunities for consolidation among middle-market firms[223]. Market Conditions and Risks - Economic conditions remain challenging, with market volatility and regulatory trends impacting financial decisions and profitability[230]. - Provision for credit losses surged by 128.2% to $12.0 million from $5.3 million, reflecting increased reserves due to loan growth[256]. - The company is exposed to credit risk with a focus on monitoring trading counterparties and conducting regular credit reviews, particularly for margin accounts[400]. - The company actively manages operational risk through policies and procedures designed to identify and mitigate risks associated with business disruptions and technology deficiencies[406]. Regulatory Environment - The company operates in a highly regulated environment, with broker-dealer subsidiaries consistently exceeding capital adequacy requirements[376]. - Stifel Bancorp must adhere to various regulatory capital requirements administered by the FDIC and state banking authorities[408]. - The company is subject to extensive regulation by the SEC, FINRA, and state securities regulators, which includes compliance with banking laws[407]. - Regulatory compliance is critical to mitigate risks of loss and ensure operational integrity[407]. Assets and Liquidity - Total assets increased by 1.2% to $40.4 billion as of March 31, 2025, compared to December 31, 2024[315]. - Cash and cash equivalents rose by $77.7 million to $2.73 billion at March 31, 2025, from $2.65 billion at December 31, 2024[317]. - The company had $13.5 billion in cash or assets readily convertible into cash as of March 31, 2025[316]. - Stifel Bancorp's available cash and highly liquid investments comprised approximately 17% of its assets as of March 31, 2025[339]. - The company has $880.0 million in uncommitted secured lines of credit as of March 31, 2025, with a peak daily borrowing of $75.0 million during the quarter[351]. Shareholder Returns - The Board of Directors authorized a 10% increase in common stock dividend, declaring $0.46 per share payable on March 17, 2025[373].