Stifel reports May 2024 total client assets of $466B, up 16% YoY and 3% sequentially

STIFEL FINANCIAL CORP

Total client assets $465.96B at May 31, up 16% YoY ($402.4B) and 3% from Apr ($454.0B).
Fee-based client assets $176.46B, up 20% YoY ($147.6B) and 3% from Apr ($171.4B).
Bank loans (net) $19.82B, down 5% YoY ($20.78B) and 1% from Apr ($19.96B).
Client money market and insured product $26.23B, up 5% YoY, essentially flat month-over-month.
CEO cites recruiting and market appreciation; investment banking environment improving but M&A timing uncertain.

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