Stifel Financial Corp. Updates July 2024 Performance Metrics
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Stifel Financial Corp. Reports July 2024 Operating Data
Stifel Financial Corp. (NYSE: SF) recently announced its operating results for July 31, 2024, aiming to keep investors informed on key performance metrics. While this data provides valuable insights, it should be noted that correlations to earnings are not assured due to the selective nature of the report.
Highlights from Client Assets and Growth
Ronald J. Kruszewski, Chairman and Chief Executive Officer, remarked, “Client assets under administration and fee-based client assets increased by 2% from the prior month, reaching remarkable levels of $481 billion and $183 billion, respectively. These increases can be attributed to continuous market appreciation and effective recruiting strategies. Additionally, client money market and insured products grew by approximately $100 million in July. The rise in Smart Rate balances successfully countered the decline in Sweep balances, indicating a slowdown in cash sorting activities. Furthermore, bank loans experienced a 2% growth in July, driven by higher Fund Banking, commercial & industrial (C&I), and residential mortgage activities.”
Selected Operating Data Overview
The following table summarizes the selected operating data for Stifel Financial Corp.:
Selected Operating Data (Unaudited)
Total Client Assets:** $481,452 million (as of 7/31/2024) vs. $426,667 million (as of 7/31/2023)
Fee-Based Client Assets:** $183,421 million (as of 7/31/2024) vs. $157,996 million (as of 7/31/2023)
Private Client Group Fee-Based Client Assets:** $160,526 million (as of 7/31/2024) vs. $138,692 million (as of 7/31/2023)
Bank Loans, Net:** $20,267 million (as of 7/31/2024) vs. $20,753 million (as of 7/31/2023)
Client Money Market and Insured Product:** $26,301 million (as of 7/31/2024) vs. $24,976 million (as of 7/31/2023)
Company Overview
Stifel Financial Corp., trading under the ticker symbol SF, is a prominent financial services holding company operating through various wholly owned subsidiaries. The company provides banking, securities, and diverse financial services to its clients across multiple sectors.
Service Offerings
Stifel’s broker-dealer clients are supported through several divisions, such as Stifel, Nicolaus & Company, Incorporated, which includes Eaton Partners and Miller Buckfire, along with Keefe, Bruyette & Woods, Inc., and Stifel Independent Advisors, LLC. The company has a significant presence in Canada and Europe through its subsidiary, Stifel Nicolaus Canada Inc. and Stifel Nicolaus Europe Limited, respectively.
Comprehensive Lending Solutions
For consumer and commercial lending needs, Stifel Bank and Stifel Bank & Trust extend a broad range of financial solutions, ensuring clients have access to essential services for various financial activities.
Trust Services
In addition to its lending and investment offerings, Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. provide exceptional trust and related services, reinforcing the company's commitment to comprehensive wealth management.
Contact Information
For further inquiries, reporters and interested parties can contact Neil Shapiro at (212) 271-3447 for media-related questions, or reach out to Joel Jeffrey at (212) 271-3610 for investor-related inquiries. For additional details, stakeholders are encouraged to visit the investor relations section of the company's website.
Frequently Asked Questions
What key metrics did Stifel Financial report for July 2024?
Stifel Financial reported an increase in client assets under administration to $481 billion and fee-based client assets of $183 billion for July 2024.
How much did Stifel’s bank loans grow in July 2024?
Bank loans grew by 2% in July 2024, reflecting increased activity in Fund Banking, C&I, and residential mortgage sectors.
What are the main divisions under Stifel Financial Corp.?
Stifel Financial operates through various divisions including Stifel, Nicolaus & Company, especially focusing on investment banking and advisory services.
What services does Stifel Bank provide?
Stifel Bank offers a full range of consumer and commercial lending solutions to cater to diverse financial needs.
How can investors contact Stifel Financial for more information?
Investors can reach Neil Shapiro for media inquiries at (212) 271-3447 and Joel Jeffrey for investor inquiries at (212) 271-3610.
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