Stifel reports April 2023 client assets flat MoM; client cash down 3% on tax season

STIFEL FINANCIAL CORP

Total client assets $406.6B, up 3% YoY and flat vs March 2023.
Client money market and insured product balances fell 8% YoY and 3% MoM to $25.2B on tax payments.
Bank loans net $20.9B, up 12% YoY but flat versus prior month.
CEO notes Smart Rate and money market fund balances increased in April; cash sorting slowed in May.
Institutional business faces headwinds from lower volatility and subdued investment banking.

item 7.01 item 2.02 item 9.01

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STIFEL FINANCIAL CORP reported preliminary financial results for April 30, 2023.

Period: April 30, 2023
Result: preliminary results

Exact text from the filing

On May 24, 2023, Stifel Financial Corp. (the “Company”) issued a press release to disclose selected operating results for April 30, 2023.

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STIFEL FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-152498

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