ST. LOUIS, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for October 31, 2024 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 22% and 28%, respectively, from the same period a year ago, ...

Financial Performance - For the three months ended September 30, 2024, net revenues increased 17.2% to $1.2 billion from $1.0 billion during the comparable period in 2023[142]. - Net income available to common shareholders for the three months ended September 30, 2024, increased 153.5% to $149.2 million, or $1.34 per diluted common share[142]. - For the nine months ended September 30, 2024, net revenues increased 12.6% to $3.6 billion compared to $3.2 billion during the comparable period in 2023[142]. - For the nine months ended September 30, 2024, net income available to common shareholders was $459.4 million, a 38.3% increase from $332.1 million in the comparable period in 2023[148]. - Total revenues for the nine months ended September 30, 2024, were $3.14 billion, an 11.1% increase from $2.83 billion in the same period of 2023[162]. Revenue Breakdown - Investment banking revenues for the three months ended September 30, 2024, increased 65.6% to $243.2 million compared to $146.9 million in the same period in 2023[146]. - Asset management revenues increased 14.9% to $382.6 million for the three months ended September 30, 2024, compared to $333.1 million in the same period in 2023[146]. - Investment banking revenues for the nine months ended September 30, 2024, rose by 31.4% to $690.4 million compared to $525.6 million in the prior year[151]. - Asset management revenues increased by 16.7% to $1.13 billion for the nine months ended September 30, 2024, up from $969.0 million in the same period in 2023[151]. - Principal transaction revenues increased by 27.9% to $429.7 million for the nine months ended September 30, 2024, compared to $336.1 million in the same period in 2023[151]. Expenses and Costs - Total non-interest expenses increased 7.7% to $1.0 billion for the three months ended September 30, 2024, compared to $935.6 million in the same period in 2023[146]. - Total non-interest expenses increased by 8.9% to $2.94 billion for the nine months ended September 30, 2024, compared to $2.70 billion in the same period in 2023[148]. - Compensation and benefits expense rose 17.1% to $718.1 million for the three months ended September 30, 2024, compared to $613.3 million in the same period in 2023[155]. - Other operating expenses decreased by 22.3% to $129.9 million for the three months ended September 30, 2024, down from $167.3 million in the comparable period in 2023[156]. - Non-interest expenses for the nine months ended September 30, 2024, totaled $1.53 billion, an 11.5% increase from $1.37 billion in the same period of 2023[162]. Interest Income and Expenses - For the three months ended September 30, 2024, net interest income decreased 8.8% to $259.6 million from $284.7 million during the comparable period in 2023[153]. - Interest revenue for the three months ended September 30, 2024, increased 1.1% to $510.8 million from $505.2 million in the comparable period in 2023, driven by higher interest-earning assets[154]. - Interest expense for the three months ended September 30, 2024, increased 13.9% to $251.2 million from $220.5 million during the comparable period in 2023[154]. - For the nine months ended September 30, 2024, net interest income decreased 12.6% to $762.6 million from $872.9 million during the comparable period in 2023[153]. - Interest revenue for the nine months ended September 30, 2024, increased 5.3% to $1.5 billion from $1.4 billion in the comparable period in 2023[154]. Client and Asset Growth - Client assets as of September 30, 2024, reached $496.3 billion, a 20.3% increase from $412.5 billion a year earlier[163]. - Fee-based client assets increased 26.4% to $190.8 billion from $151.0 billion year-over-year[163]. - The number of client accounts as of September 30, 2024, was 1.24 million, a 2.7% increase from 1.21 million a year earlier[163]. - The number of branch offices decreased to 390 in 2024 from 398 in 2023, while total financial advisors decreased to 2,357 from 2,374[160]. Strategic Acquisitions and Plans - The company acquired Finance 500, Inc. and CB Resource, Inc. on August 1, 2024, enhancing its brokerage and investment services capabilities[141]. - The company plans to focus on revenue growth and recruiting experienced financial advisors to enhance client relationships[141]. Regulatory and Compliance - Regulatory compliance is overseen by multiple authorities, including the SEC and FDIC, with potential legal exposure from underwriting commitments[218]. - Stifel Bancorp's loan policy includes criteria for underwriting, monitoring, and managing credit risk, ensuring adequate documentation and review of borrower characteristics[216]. Liquidity and Capital Management - The company maintained sufficient liquidity to meet current and contingent funding obligations as modeled in its liquidity stress test[194]. - The company has a borrowing capacity of $6.0 billion with the Federal Home Loan Bank and $4.1 billion with the Fed's discount window as of September 30, 2024[198]. - The company reported $28.1 billion in deposits as of September 30, 2024, an increase from $27.3 billion at December 31, 2023[196]. Risk Management - The cumulative GAP analysis shows a negative position of $(8,336,861,000) in the 0-6 month category, indicating a significant interest rate sensitivity[214]. - The company is exposed to credit risk from trading and brokerage activities, with measures in place to monitor and manage counterparty creditworthiness[215]. - Operational risk management includes policies to mitigate losses from business disruptions and unauthorized transactions, with business continuity plans for critical systems[217].

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Exhibit 99.2 Stifel Financial Corp. Quarterly Financial Supplement | Third Quarter 2024 Earnings Release Page 1 of 19 FEL Third Quarter 2024 Earnings Results | --- | --- | |-----------------------------------------------------------------------------|-------| | Quarterly Financial Supplement | Page | | Consolidated Financial Highlights GAAP Consolidated Results of Operations | 2 3 | | Non-GAAP Consolidated Results of Operations | 4 | | Consolidated Financial Summary | 5 | | Consolidated Financial Informatio ...

ST. LOUIS, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported net revenues of $1.2 billion for the three months ended September 30, 2024, compared with $1.0 billion a year ago. Net income available to common shareholders was $149.2 million, or $1.34 per diluted common share, compared with $58.8 million, or $0.52 per diluted common share for the third quarter of 2023. Non-GAAP net income available to common shareholders was $166.3 million, or $1.50 per diluted common share for ...

ST. LOUIS, Oct. 16, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) will release its third quarter 2024 financial results before the market opens on Wednesday, October 23, 2024. 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 (866) 409-1555 and referencing participant ID 7408307. A ...

ST. LOUIS, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for August 31, 2024 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 15% and 20%, respectively, from the same period a year ago, ...

Core Insights - Stifel Financial Corp. reported selected operating results for July 31, 2024, highlighting key performance metrics for investors [1] - The company experienced a 2% increase in client assets under administration and fee-based client assets, reaching record levels of $481 billion and $183 billion, respectively [2][3] Financial Performance - Total client assets as of July 31, 2024, were $481,452 million, up 13% from $426,667 million a year earlier and a 2% increase from $474,137 million in the previous month [3] - Fee-based client assets reached $183,421 million, reflecting a 16% increase from $157,996 million year-over-year and a 2% increase from $179,749 million month-over-month [3] - Private Client Group fee-based client assets also grew by 16% year-over-year to $160,526 million, with a 2% increase from the previous month [3] - Bank loans, net, totaled $20,267 million, showing a 2% increase from the previous month but a slight decline of 2% from $20,753 million year-over-year [3] - Client money market and insured products increased by 5% year-over-year to $26,301 million, with no change from the previous month [3] Company Overview - Stifel Financial Corp. is a financial services holding company based in St. Louis, Missouri, providing banking, securities, and financial services through various wholly owned subsidiaries [4] - The company serves broker-dealer clients in the U.S., Canada, and Europe, offering a range of services including securities brokerage, investment banking, and trading [4]

ST. LOUIS, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced that its Board of Directors has declared a cash dividend on shares of its common stock of $0.42 per share, payable September 17, 2024, to shareholders of record at the close of business on September 3, 2024. The Board of Directors also declared a quarterly cash dividend on the outstanding shares of its 6.25% NonCumulative Perpetual Preferred Stock, Series B (the "Series B Preferred Stock"), 6.125% Non-Cumulative P ...

Core Viewpoint - Stifel Financial's shares are rated as a Buy due to a favorable outlook and undemanding valuations, with the market valuing the company at a low-teens P/E ratio despite strong Q2 results and positive guidance for the full year [1][9]. Financial Performance - Stifel Financial reported Q2 2024 financial results on July 24, with a top line growth of +15.9% YoY and +4.7% QoQ, reaching $1,217.9 million, surpassing Wall Street's consensus forecast by +2.5% [3]. - Non-GAAP adjusted EPS for Q2 2024 increased by +33.3% YoY to $1.60, beating market expectations by +4.0% [3]. - Fixed income transactional revenue grew by +20% QoQ and +58% YoY to $107 million, driven by increased trading gains [3]. - Investment banking advisory revenue reached $131 million, reflecting YoY and QoQ growth rates of +50% and +10%, respectively [4]. 2024 Guidance - Stifel Financial expects a top line increase of +8.7% to $4,725 million for FY 2024, indicating a turnaround from previous declines in net revenues [6]. - The company anticipates stable compensation expenses and a decrease in non-compensation operating expenses-to-revenue ratio from 23.2% in FY 2023 to 20.0% in FY 2024 [6]. Valuation Metrics - Stifel Financial currently trades at a normalized P/E of 12 times, with an expected EPS CAGR of +23% from FY 2023 to FY 2026, resulting in a PEG ratio of approximately 0.52, indicating attractive valuations [7].