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Stifel Financial
(NYSE:SF)
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Rating:77Outperform
Price Target:
$95.00
â–²(17.55% Upside)
Action:Reiterated
Date:08/05/26
SF scores well on valuation (low P/E) and technical trend strength (price above major moving averages with positive MACD). Financial performance is solid overall, but the score is held back by notably weaker and more volatile TTM cash flow versus 2025. The latest earnings call supports the outlook with reiterated guidance, strong first-half results, and active capital deployment, tempered by manageable expense and revenue-mix headwinds.
Positive Factors
Wealth management scale and recurring assets
The expanding asset base strengthens Stifel’s recurring, asset-based fee stream and deepens client relationships. Continued adviser recruiting and engagement can support durable organic growth while reducing reliance on cyclical transaction revenues.
Negative Factors
Volatile and weakened cash conversion
The sharp decline in operating and free cash flow makes earnings conversion less predictable and can constrain reinvestment or capital returns. Continued volatility would reduce financial flexibility even though free cash flow remains positive.
Read all positive and negative factors
Positive Factors
Negative Factors
Wealth management scale and recurring assets
The expanding asset base strengthens Stifel’s recurring, asset-based fee stream and deepens client relationships. Continued adviser recruiting and engagement can support durable organic growth while reducing reliance on cyclical transaction revenues.
Read all positive factors
Stifel Financial (SF) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.64B
Dividend Yield1.75%
Average Volume (3M)1.35M
Price to Earnings (P/E)9.1
Beta (1Y)1.28
Revenue Growth11.04%
EPS Growth60.96%
CountryUS
Employees8,900
SectorFinancial
Sector Strength70
IndustryInvestment - Banking & Investment Services
Share Statistics
EPS (TTM)9.09
Shares Outstanding151,001,740
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)6.52
Revenue Forecast (FY)$6.03B
Stifel Financial Business Overview & Revenue Model
Company Description
Stifel Financial Corp. operates as the bank holding company for Stifel, Nicolaus & Company, Incorporated that provides retail and institutional wealth management, and investment banking services to individual, corporations, municipalities, and ins...
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
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.68B | 6.30B | 5.89B | 5.10B | 4.54B | 4.72B |
| Gross Profit | 5.67B | 5.45B | 4.88B | 4.27B | 4.30B | 4.69B |
| EBITDA | 1.73B | 933.50M | 1.01B | 788.15M | 955.33M | 1.13B |
| Net Income | 953.63M | 683.78M | 731.38M | 522.54M | 662.15M | 824.86M |
Balance Sheet | ||||||
| Total Assets | 44.91B | 41.59B | 39.90B | 37.73B | 37.20B | 34.05B |
| Cash, Cash Equivalents and Short-Term Investments | 3.72B | 2.28B | 3.00B | 3.68B | 3.84B | 4.08B |
| Total Debt | 839.60M | 2.18B | 2.77B | 2.92B | 1.84B | 2.32B |
| Total Liabilities | 38.90B | 35.61B | 34.21B | 32.43B | 31.87B | 29.01B |
| Stockholders Equity | 6.01B | 5.98B | 5.69B | 5.29B | 5.33B | 5.03B |
Cash Flow | ||||||
| Free Cash Flow | 417.67M | 1.20B | 416.65M | 447.35M | 1.08B | 683.92M |
| Operating Cash Flow | 448.35M | 1.26B | 490.44M | 499.33M | 1.16B | 872.09M |
| Investing Cash Flow | -3.87B | -1.76B | -2.31B | 1.04B | -4.32B | -6.97B |
| Financing Cash Flow | 3.72B | 91.25M | 980.10M | -254.58M | 3.19B | 5.79B |
Stifel Financial Technical Analysis
Positive
80.82
Price Trends
77.74
Positive
76.31
Positive
78.19
Positive
Market Momentum
1.79
Positive
54.38
Neutral
27.15
Neutral
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 below the 20-day moving average (MA) of 83.40, above the 50-day MA of 77.74, and above the 200-day MA of 78.19, indicating a neutral trend. The MACD of 1.79 indicates Positive momentum. The RSI at 54.38 is Neutral, neither overbought nor oversold. The STOCH value of 27.15 is Neutral, 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 | $12.64B | 9.10 | 16.07% | 1.79% | 11.04% | 60.96% | |
74 Outperform | $5.29B | 16.44 | 22.90% | 2.59% | 32.10% | 40.51% | |
71 Outperform | $11.49B | 15.54 | 53.00% | 1.00% | 45.68% | 59.92% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
64 Neutral | $4.29B | 19.76 | 25.84% | 4.51% | 5.74% | -30.53% | |
64 Neutral | $8.88B | 21.36 | 17.78% | 1.78% | 1.59% | -1.40% | |
60 Neutral | $12.41B | 14.43 | 8.51% | 2.86% | 29.74% | 35.56% |
* Financial Sector Average
SF
Stifel Financial
82.72
9.99
13.74%
EVR
Evercore Partners
298.38
-2.99
-0.99%
JEF
Jefferies
53.55
-4.08
-7.08%
LAZ
Lazard
45.21
-6.02
-11.75%
PIPR
Piper Sandler
74.83
-3.65
-4.65%
HLI
Houlihan Lokey
130.09
-59.83
-31.50%
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.