---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-172530"
form_type: "8-K"
ticker: "SF"
cik: "0000720672"
company_name: "STIFEL FINANCIAL CORP"
filed_at: "2023-06-22T23:59:59+00:00"
generated_at: "2026-06-13T19:29:57.737832+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Stifel reports May 2023 operating data; Q2 IB revenue seen down 10-15% from Q1

## Summary
- Total client assets $402.4B at May 31, down 1% from April and up 1% YoY.
- Client money market & insured product $25.1B (-1% vs April, -8% YoY).
- Q2 investment banking revenue estimated down 10-15% from Q1; transactional revenue down 5-10%.
- Bank loans net $20.8B, flat vs April, up 9% YoY.
- Deposits increased in May; Smart Rate balances growing; cash sorting slowing in June.

## SEC filing metadata
- accession: 0001193125-23-172530
- form_type: 8-K
- ticker: SF
- cik: 0000720672
- company_name: STIFEL FINANCIAL CORP
- filed_at: 2023-06-22T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 7.01, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/720672/000119312523172530/0001193125-23-172530-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/720672/000119312523172530/d523600d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-172530
- JSON: https://secwatch.observer/filing/0001193125-23-172530.json
- Plain text: https://secwatch.observer/filing/0001193125-23-172530.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.