Stifel Q3 EPS Hits Record $1.46, But Institutional Revenue Slides 14%
SF is trading near its 52-week low of $65.68 (2.0% above the low).
Summary
Stifel posted record Q3 EPS of $1.46 (+12%) on flat $1.43B revenue that missed consensus by about 1%, as record wealth management results offset a 14% decline in institutional revenue. The company repurchased $124M of stock in the quarter.
Key Events · Earnings and Guidance · SF
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Record Q3 EPS, Flat Revenue
Non-GAAP diluted EPS of $1.46 (+12% y/y) on net revenues of $1.43B, roughly flat year over year and about 1% below the $1.45B consensus.
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Institutional Group Revenue Down 14%
Institutional revenue fell to $430.3M from $500.4M, with fixed income transactional -34% and equity transactional -29% on wider credit spreads, volatility and lower trading gains; pre-tax income dropped to $76.3M from $89.3M.
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Wealth Management Sets Records
Global Wealth Management revenue rose 8% to $980.3M with pre-tax income of $374.4M; client assets reached $576.5B (+6%) and fee-based assets $239.7B (+9%).
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Buyback Continues at Higher Prices
Repurchased 1.6M shares for $124.0M in Q3 at an average $76.95; $564.4M / 7.3M shares over the last twelve months. 6.2M shares remain authorized.
Analysis · SF · Finance
The bottom line set a record for a third quarter—non-GAAP EPS of $1.46, up 12%—but the top line was flat at $1.43B and came in about 1% below consensus. The split is stark: wealth management set records (revenue $980M, +8%; client assets $576.5B), while the Institutional Group fell 14% as fixed income transactional revenue dropped 34% and equity transactional fell 29% on wider credit spreads, volatility and lower trading gains. With the stock near its 52-week low, the market is focused on whether capital-markets activity recovers; management points to a record year-to-date ($4.3B revenue, +9%; core EPS $4.33, +22%) and kept buying back stock—$124M in Q3 at an average $76.95, well above today's $67.
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In the 30 days to Oct 21, 2026, 29.2% of the 1544 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.49%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SF was trading at $67.00 on NYSE in the Finance sector, with a market capitalization of approximately $10.1B. The 52-week trading range was $65.68 to $89.83. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.