Stifel Q2 net income down 17% to $125M; wealth management revenue record $758M, institutional pre-tax loss $12.9M

STIFEL FINANCIAL CORP

2023-Q2 EPS reported $2.38 revenue$2,503,602,000

GAAP net income available to common shareholders $125M ($1.10/diluted), down 17.5% YoY from $151M ($1.29).
Global Wealth Management net revenues a record $758M, up 9% YoY; net interest income up 42% to $277M.
Institutional Group net revenues $276M, down 33% YoY; pre-tax loss $12.9M vs profit $73M a year ago.
Recruited 46 financial advisors in Q2; total client assets $418B, up 11% YoY.
Quarterly dividend maintained at $0.36/share; $86.8M of common stock repurchased during quarter.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STIFEL FINANCIAL CORP reported financial results for the quarter ended June 30, 2023.

Period: the quarter ended June 30, 2023
Result: reported results

Exact text from the filing

On July 26, 2023, Stifel Financial Corp. (“Stifel” or the “Company”) reported its financial results for the quarter ended June 30, 2023. A copy of the press release containing this information is attached as Exhibit 99.1 to this Report on Form 8-K.

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Source: SEC EDGAR

accession 0001193125-23-194024

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