Stifel Reports May 2025 Operating Data

Rhea-AI Summary

Stifel Financial (NYSE:SF) has released its May 2025 operating data, showing mixed results across key metrics. Total client assets increased 3% month-over-month to $501.4 billion, driven by recruiting and market appreciation. Fee-based assets grew 4% to $199.1 billion.

The company expects Q2 2025 investment banking revenue to decline approximately 10% compared to Q2 2024, though management notes improved momentum and growing pipelines as markets stabilize. Client money market and insured product levels saw a marginal decrease of less than 1%, while bank loans decreased 2% month-over-month but remained up 7% year-over-year.

Positive

• Total client assets grew 8% year-over-year to $501.4 billion
• Fee-based client assets increased 13% year-over-year to $199.1 billion
• Bank loans increased 7% year-over-year to $21.2 billion
• Management reports improving investment banking pipeline and market stabilization

Negative

• Investment banking revenue expected to decline 10% in Q2 2025 vs Q2 2024
• Client money market and insured products decreased 2% year-over-year
• Bank loans declined 2% month-over-month
• Market volatility negatively impacted investment banking activity in April

News Market Reaction

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+0.51% News Effect

On the day this news was published, SF gained 0.51%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

ST. LOUIS, June 26, 2025 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for May 31, 2025, 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, “In May, recruiting and market appreciation drove a 3% increase in total client assets and a 4% increase in fee-based assets. Client money market and insured product levels decreased less than 1% during the month primarily due to lower Smart Rate balances as Sweep balances experienced a slight decline. Investment banking activity was negatively impacted by increased market volatility in April, but we have seen momentum increase and our pipelines build throughout the quarter as markets have stabilized. As a result, we anticipate investment banking revenue in the quarter to be down approximately 10% from the second quarter of 2024 but we remain cautiously optimistic for the full year 2025.”

Selected Operating Data (Unaudited)
	As of											% Change
(millions)	5/31/2025				5/31/2024			4/30/2025				5/31/2024	4/30/2025
Total client assets	$501,357				$465,959			$485,551				8%	3%
Fee-based client assets	$199,078				$176,461			$190,545				13%	4%
Private Client Group fee-based client assets	$173,557				$154,544			$166,029				12%	5%
Bank loans, net (includes loans held for sale)	$21,204				$19,822			$21,536				7%	(2)%
Client money market and insured product (1)	$25,827				$26,230			$26,073				(2)%	(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

FAQ

What are Stifel's (SF) total client assets as of May 2025?

Stifel reported total client assets of $501.4 billion as of May 31, 2025, representing an 8% increase year-over-year and a 3% increase from April 2025.

How much did Stifel's (SF) investment banking revenue decline in Q2 2025?

Stifel anticipates investment banking revenue to be down approximately 10% compared to the second quarter of 2024, though management remains cautiously optimistic for full year 2025.

What was the growth in Stifel's fee-based assets for May 2025?

Stifel's fee-based assets grew 13% year-over-year to $199.1 billion and increased 4% month-over-month as of May 31, 2025.

How did Stifel's bank loans perform in May 2025?

Stifel's bank loans stood at $21.2 billion, showing a 7% increase year-over-year but a 2% decrease from April 2025.

What caused the growth in Stifel's client assets in May 2025?

The 3% increase in total client assets was primarily driven by recruiting and market appreciation, according to CEO Ronald J. Kruszewski.