secwatch.observer — SEC 8-K summary
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Issuer:     STIFEL FINANCIAL CORP (SF)
CIK:        0000720672
Form:       8-K
Filed at:   2025-06-26T23:59:59+00:00
Accession:  0001193125-25-149012
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 7.01, 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stifel reports May client assets up 3% MoM; Q2 IB revenue seen down ~10% YoY
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- Total client assets $501.4B as of May 31, 2025, up 8% YoY and 3% from April 30.
- Fee-based client assets $199.1B, up 13% YoY and 4% MoM; PCG fee-based assets $173.6B (+12% YoY, +5% MoM).
- CEO Kruszewski expects Q2 2025 investment banking revenue down ~10% vs Q2 2024, citing April volatility.
- Client money market and insured product $25.8B, down less than 1% MoM; Smart Rate balances drove decrease.
- Bank loans net $21.2B, up 7% YoY but down 2% MoM.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/720672/000119312525149012/0001193125-25-149012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/720672/000119312525149012/d837848d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-149012

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer