Stifel Reports January 2024 Operating Data
February 22 2024 - 4:05PM
Stifel Financial Corp. (NYSE: SF) today reported selected operating
results for January 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, “Client assets under
administration and fee-based assets increased 1% from the prior
month and reached record levels of $447 billion and $167 billion,
respectively, as we continue to benefit from strong equity markets
and solid recruiting pipelines. Client money market and insured
products declined by 1% from year-end levels as the expected
seasonal decline in sweep deposits was partially offset by the
increase in Smart Rate balances. Overall client cash, inclusive of
money market funds and short-term treasuries, was essentially flat
in January compared to the prior month.”
Selected Operating Data (Unaudited) |
|
As of |
% Change |
(millions) |
1/31/2024 |
1/31/2023 |
12/31/2023 |
1/31/2023 |
12/31/2023 |
Total client assets |
$446,724 |
$407,844 |
$444,318 |
10% |
1% |
Fee-based client assets |
$166,682 |
$150,891 |
$165,301 |
11% |
1% |
Private Client Group fee-based
client assets |
$146,729 |
$132,763 |
$145,513 |
11% |
1% |
Bank loans, net (includes
loans held for sale) |
$19,525 |
$20,768 |
$19,730 |
(6)% |
(1)% |
Client
money market and insured product (1) |
$26,144 |
$27,349 |
$26,474 |
(4)% |
(1)% |
(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 and
Miller Buckfire business divisions; Keefe, Bruyette & Woods,
Inc.; and Stifel Independent Advisors, LLC; in Canada through
Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe
through Stifel Nicolaus Europe Limited. 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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