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Stifel Financial
(NYSE:SF)
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Rating:77Outperform
Price Target:
$93.00
â–²(15.07% Upside)
Action:Reiterated
Date:07/28/26
The score is driven primarily by solid financial performance with improving margins, ROE, and strong cash generation, supported by an attractive valuation (low P/E) and a constructive earnings call with reiterated guidance and strong first-half results. Technicals add support as the stock is trading above major moving averages, though limited momentum indicator data reduces confidence in trend strength.
Positive Factors
Wealth management scale & fee-based assets
Large and growing client asset base with accelerating fee-based assets creates a durable, recurring revenue stream from asset-based advisory fees. Advisor recruiting and market-driven AUM growth support long-term fee revenue stability, cross-selling, and predictable cash flows over the next several quarters.
Negative Factors
Capital-markets cyclicality & transactional volatility
A meaningful share of revenue is transaction- and markets-driven, which creates durable earnings volatility across economic cycles. Large one-off gains and fluctuating underwriting/advisory volumes can materially swing quarterly revenue and margins, making medium-term earnings less predictable.
Read all positive and negative factors
Positive Factors
Negative Factors
Wealth management scale & fee-based assets
Large and growing client asset base with accelerating fee-based assets creates a durable, recurring revenue stream from asset-based advisory fees. Advisor recruiting and market-driven AUM growth support long-term fee revenue stability, cross-selling, and predictable cash flows over the next several quarters.
Read all positive factors
Stifel Financial (SF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.57B
Dividend Yield1.74%
Average Volume (3M)1.35M
Price to Earnings (P/E)9.1
Beta (1Y)1.33
Revenue Growth11.06%
EPS Growth60.96%
CountryUS
Employees9,000
SectorFinancial
Sector Strength70
IndustryInvestment - Banking & Investment Services
Share Statistics
EPS (TTM)8.30
Shares Outstanding151,589,000
10 Day Avg. Volume1,223,911
30 Day Avg. Volume1,345,790
Financial Highlights & Ratios
PEG Ratio-2.22
Price to Book (P/B)1.44
Price to Sales (P/S)1.36
P/FCF Ratio7.14
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$85.50Price Target Upside5.79% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)6.5
Revenue Forecast (FY)$6.03B
Stifel Financial Business Overview & Revenue Model
Company Description
Stifel Financial Corp. (NYSE: SF) is a diversified financial services holding company whose primary operating subsidiary, Stifel, Nicolaus & Company, Incorporated, provides wealth management, investment banking, trading and brokerage, and related ...
How the Company Makes Money
Stifel makes money primarily through a mix of (1) advisory and service fees in its Wealth Management business, (2) capital markets and investment banking fees, and (3) trading- and interest-related income.
1) Wealth Management (largest recurring ...
Stifel Financial Earnings Call Summary
Earnings Call Date:Jul 22, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 28, 2026
Earnings Call Sentiment Positive
The call emphasized broad-based growth: record first-half revenue and EPS, strong wealth management and institutional investment banking performance, improving margins and disciplined capital deployment. Most negative items were manageable or framed as temporary (transactional revenue comparatives, deposit seasonality, SIA sale impact, and rising non-comp expenses tied to growth). Given the scale and magnitude of positive operational and financial metrics relative to the limited, mostly explained headwinds, the tone of the call is constructive and optimistic.Positive Updates
Strong Revenue and EPS Growth
Second quarter net revenue of $1.45 billion, up 13% year-over-year; non-GAAP EPS of $1.42, up 25% year-over-year. First half record net revenue of $2.9 billion, 15% above prior record, and record first half EPS of $2.87, up 28%.
Negative Updates
Transactional Revenue Weakness
Transactional revenue was 2% below consensus and decreased 3% year-over-year (company later noted a 19% YoY decline in transactional revenue primarily due to a ~$30 million 2025 gain in the aircraft business that inflated the prior-year comparison).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Revenue and EPS Growth
Second quarter net revenue of $1.45 billion, up 13% year-over-year; non-GAAP EPS of $1.42, up 25% year-over-year. First half record net revenue of $2.9 billion, 15% above prior record, and record first half EPS of $2.87, up 28%.
Read all positive updates
Company Guidance
Management reiterated full‑year targets and near‑term guidance: they remain on pace for up to $4.0 billion of loan/balance‑sheet growth (added ~$2.6B in Q2), guided Q3 net interest income of $290–300 million with the NII run‑rate at the higher end of the full‑year view, expect comp flexibility toward the midpoint‑to‑lower half of a 56.5%–57.5% compensation ratio, see operating non‑comp spending within the 18%–20% guidance band (Q2 operating non‑comp ratio 19.6%), and reported an Institutional pretax margin of 19.5% in H1. They also emphasized disciplined capital deployment after >$0.5B of Q2 reinvestment/repurchases/dividends, noted Tier‑1 leverage of 11.2% and a Tier‑1 risk‑based ratio of 17.3% (with roughly $480M of excess capital after funding $2.6B of loan growth and repurchasing 2.4M shares), have 7.8M shares remaining under authorization, and expect a Q3 fully diluted share count of ~160.5M.Stifel Financial Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.51B | 6.30B | 5.89B | 5.10B | 4.54B | 4.72B |
| Gross Profit | 5.60B | 5.45B | 4.88B | 4.27B | 4.30B | 4.69B |
| EBITDA | 1.48B | 933.50M | 1.01B | 788.15M | 955.33M | 1.13B |
| Net Income | 882.21M | 683.78M | 731.38M | 522.54M | 662.15M | 824.86M |
Balance Sheet | ||||||
| Total Assets | 42.89B | 41.59B | 39.90B | 37.73B | 37.20B | 34.05B |
| Cash, Cash Equivalents and Short-Term Investments | 3.36B | 2.28B | 3.00B | 3.68B | 3.84B | 4.08B |
| Total Debt | 3.31B | 2.18B | 2.77B | 2.92B | 1.84B | 2.32B |
| Total Liabilities | 36.91B | 35.61B | 34.21B | 32.43B | 31.87B | 29.01B |
| Stockholders Equity | 5.98B | 5.98B | 5.69B | 5.29B | 5.33B | 5.03B |
Cash Flow | ||||||
| Free Cash Flow | 830.69M | 1.20B | 416.65M | 447.35M | 1.08B | 683.92M |
| Operating Cash Flow | 924.06M | 1.26B | 490.44M | 499.33M | 1.16B | 872.09M |
| Investing Cash Flow | -1.64B | -1.76B | -2.31B | 1.04B | -4.32B | -6.97B |
| Financing Cash Flow | 882.30M | 91.25M | 980.10M | -254.58M | 3.19B | 5.79B |
Stifel Financial Technical Analysis
Positive
80.82
Price Trends
74.28
Positive
74.61
Positive
77.63
Positive
Market Momentum
1.86
Negative
69.41
Neutral
92.27
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SF, the sentiment is Positive. The current price of 80.82 is above the 20-day moving average (MA) of 78.48, above the 50-day MA of 74.28, and above the 200-day MA of 77.63, indicating a bullish trend. The MACD of 1.86 indicates Negative momentum. The RSI at 69.41 is Neutral, neither overbought nor oversold. The STOCH value of 92.27 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SF.
Stifel Financial Risk Analysis
Stifel Financial disclosed 27 risk factors in its most recent earnings report. Stifel Financial reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Stifel Financial Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $12.57B | 9.12 | 16.36% | 1.79% | 11.06% | 60.96% | |
76 Outperform | $5.39B | 16.65 | 23.52% | 2.59% | 32.12% | 40.51% | |
73 Outperform | $12.40B | 16.70 | 53.00% | 1.00% | 45.68% | 59.92% | |
68 Neutral | $8.77B | 20.61 | 17.78% | 1.78% | 1.59% | -1.40% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $4.13B | 18.53 | 25.84% | 4.51% | 5.74% | -30.53% | |
60 Neutral | $12.59B | 14.72 | 8.51% | 2.86% | 29.74% | 35.56% |
* Financial Sector Average
SF
Stifel Financial
82.91
9.34
12.70%
EVR
Evercore Partners
320.56
23.65
7.96%
JEF
Jefferies
54.60
-0.35
-0.64%
LAZ
Lazard
42.38
-7.34
-14.76%
PIPR
Piper Sandler
75.80
-2.41
-3.09%
HLI
Houlihan Lokey
125.49
-64.77
-34.04%
Stifel Financial Corporate Events
Business Operations and StrategyFinancial Disclosures
Stifel Highlights Strong Asset and Banking Growth Momentum
Positive
Jun 25, 2026
On June 25, 2026, Stifel Financial reported selected operating data as of May 31, 2026, highlighting strong growth in client and fee-based assets driven by market gains and advisor recruitment, excluding the impact of its February 2026 sale of Sti...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
Stifel Shareholders Approve Directors, Pay and Equity Plans
Positive
Jun 9, 2026
At its June 9, 2026 annual meeting, Stifel Financial shareholders elected twelve directors to serve until the 2027 meeting and approved, on an advisory basis, the compensation of the company’s named executive officers. Shareholders also rati...
Business Operations and StrategyFinancial Disclosures
Stifel Reports Strong April Growth in Client Assets
Positive
May 28, 2026
On May 28, 2026, Stifel Financial Corp. reported selected operating data for April 30, 2026, highlighting double-digit growth in client assets and strength in its banking operations. Total client assets rose to $568.9 billion, up 17% year over yea...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.