$SF · STIFEL FINANCIAL CORP
Stifel Financial Corp. reported Q3 2026 results via 8-K Item 2.02. GAAP net revenues were $1.43B, flat YoY, with GAAP diluted EPS of $1.40 vs. $1.22 a year ago. Non-GAAP diluted EPS was $1.46, a record for any third quarter. Global Wealth Management drove results with record net revenues of $980.3M (+8% YoY), while the Institutional Group saw revenues decline to $430.3M from $500.4M.
- Non-GAAP diluted EPS of $1.46, up 12% YoY, best third quarter in company history.
- Global Wealth Management posted record net revenues of $980.3M, up 8% from $907.4M a year ago.
- Asset management revenues rose 14% YoY; net interest income increased 9% YoY.
- Company repurchased $124.0M (1.6M shares) in Q3 at an average price of $76.95.
- Tangible book value per share reached $26.05, up 12% from the prior year.
Extended-hours trading shows shares at $69.00, up +3.25% from the regular close of $66.83, indicating a positive initial reaction to the record earnings.
Record wealth-management revenue and EPS demonstrate Stifel's successful pivot toward recurring fee-based income, even as institutional trading faces headwinds.
Stifel's results mirror the broader wealth-management trend of rising fee-based and asset-management revenues offsetting weaker institutional trading and advisory activity.
Institutional Group revenues fell 14% YoY to $430.3M, with fixed income transactional revenues down 34% and equity transactional revenues down 29%, reflecting widening credit spreads and lower trading volumes.
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