Stifel Financial Stock Earnings Reports

Stifel reported a strong Q2 and first-half 2026 with net revenue of $1.45 billion (up 13% YoY) and non-GAAP EPS of $1.42 (up 25% YoY). First-half net revenue was a record $2.9 billion and EPS $2.87, with ROTCE ~24% and tangible book value per share up 15% YoY. Global Wealth Management delivered record revenue ($957 million) and record client assets ($580 billion), driven by transactional revenue, higher NII and asset management growth; adviser recruiting and satisfaction remained robust. The loan book grew $2.6 billion in the quarter (on pace for up to $4 billion growth guidance for 2026), funded largely by venture/treasury deposits and off-balance-sheet funding. Institutional results improved meaningfully—investment banking revenue up 42% YoY in Q2, with institutional pretax margins improving to 19.5% for H1 due to revenue growth and efficiency initiatives. Net interest income was at the high end of guidance. Compensation ratio improved to ~57% and management expects additional comp flexibility if markets hold. Capital deployment in Q2 included reinvestment in the business, share repurchases and dividends (~$0.5 billion deployed), while capital ratios remain strong (Tier 1 leverage 11.2%, Tier 1 risk-based 17.3%) with ~ $480 million excess capital relative to a 10% leverage target. Management emphasized disciplined capital allocation (prioritizing organic growth, buybacks when attractive, and disciplined M&A), sees AI as an amplifier of adviser productivity rather than a replacement, and expressed optimism about the second half while acknowledging macro and geopolitical volatility risks.