Stifel Reports April 2023 Operating Data
May 24 2023 - 8:00AM
Stifel Financial Corp. (NYSE: SF) today reported selected operating
results for April 30, 2023 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 increased
modestly over the prior month due primarily to the benefits of
higher equity markets. Total client cash fell 3% in April driven by
seasonal tax payments. We continued to see the benefits of our
client cash initiatives as both Smart Rate & and money market
mutual fund balances increased in April. Additionally, cash sorting
activity has slowed in May. Our institutional business continues to
face headwinds as decreased volatility has pressured the equity
business and investment banking activity remains subdued.”
Selected Operating Data (Unaudited) |
|
As of |
|
% Change |
(millions) |
4/30/2023 |
4/30/2022 |
3/31/2023 |
|
4/30/2022 |
3/31/2023 |
Total client assets |
$406,620 |
$396,191 |
$405,998 |
|
3 |
% |
0 |
% |
Fee-based client assets |
$149,604 |
$148,021 |
$149,541 |
|
1 |
% |
0 |
% |
Private Client Group fee-based client assets |
$131,321 |
$130,072 |
$131,483 |
|
1 |
% |
(0 |
)% |
Bank loans, net (includes loans held for sale) |
$20,857 |
$18,681 |
$20,935 |
|
12 |
% |
(0 |
)% |
Client money market and insured product (1) |
$25,220 |
$27,499 |
$26,002 |
|
(8 |
)% |
(3 |
)% |
(1) Includes Sweep deposits, Smart Rate deposits,
Third-party Bank Sweep Program, and Other Sweep cash.
Company Information
Stifel Financial Corp. (NYSE: SF) is a financial
services holding company headquartered in St. Louis, Missouri, that
conducts its banking, securities, and financial services business
through several wholly owned subsidiaries. Stifel’s broker-dealer
clients are served in the United States through Stifel, Nicolaus
& Company, Incorporated, including its Eaton Partners business
division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire &
Co., LLC; and Stifel Independent Advisors, LLC. The Company’s
broker-dealer affiliates provide securities brokerage, investment
banking, trading, investment advisory, and related financial
services to individual investors, professional money managers,
businesses, and municipalities. Stifel Bank and Stifel Bank &
Trust offer a full range of consumer and commercial lending
solutions. Stifel Trust Company, N.A. and Stifel Trust Company
Delaware, N.A. offer trust and related services. To learn more
about Stifel, please visit the Company’s website at www.stifel.com.
For global disclosures, please visit
www.stifel.com/investor-relations/press-releases.
Media Contact: Neil Shapiro (212) 271-3447 |
Investor Contact: Joel Jeffrey (212) 271- 3610 |
www.stifel.com/investor-relations
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