Stifel Reports August 2024 Operating Data
Stifel Financial Corp. (NYSE: SF) has released its operating results for August 31, 2024. The report shows total client assets increased by 15% and fee-based assets grew by 20% compared to the same period last year. This growth is attributed to successful recruiting efforts and market appreciation. Client money market and insured product balances saw a 1% month-on-month increase, driven by growth in Smart Rate and Sweep balances.
CEO Ronald J. Kruszewski stated that the company anticipates stronger investment banking revenue in the second half of the year compared to the first half, as activity levels increase. However, he noted that both the timing of deal closings and market volatility continue to impact revenue. The report also indicates that bank loans remained relatively stable compared to the previous year and month.
Stifel Financial Corp. (NYSE: SF) ha pubblicato i risultati operativi al 31 agosto 2024. Il rapporto mostra che il patrimonio totale dei clienti è aumentato del 15% e gli asset a pagamento di commissioni sono cresciuti del 20% rispetto allo stesso periodo dell'anno scorso. Questa crescita è attribuita a sforzi di reclutamento di successo e all'apprezzamento del mercato. I saldi dei fondi monetari dei clienti e dei prodotti assicurati hanno registrato un aumento dell'1% rispetto al mese precedente, guidato dalla crescita dei saldi di Smart Rate e Sweep.
Il CEO Ronald J. Kruszewski ha dichiarato che l'azienda prevede entrate più forti nel settore della banca d'investimento nella seconda metà dell'anno rispetto alla prima metà, poiché i livelli di attività aumentano. Tuttavia, ha notato che sia il tempismo delle chiusure delle trattative che la volatilità del mercato continuano a influenzare le entrate. Il rapporto indica anche che i prestiti bancari sono rimasti relativamente stabili rispetto all'anno e al mese precedenti.
Stifel Financial Corp. (NYSE: SF) ha publicado sus resultados operativos al 31 de agosto de 2024. El informe muestra que los activos totales de los clientes aumentaron un 15% y que los activos basados en comisiones crecieron un 20% en comparación con el mismo período del año pasado. Este crecimiento se atribuye a esfuerzos de reclutamiento exitosos y a la apreciación del mercado. Los saldos en el mercado de dinero y los productos asegurados de los clientes vieron un aumento del 1% mes a mes, impulsado por el crecimiento en los saldos de Smart Rate y Sweep.
El CEO Ronald J. Kruszewski declaró que la compañía anticipa ingresos más fuertes de banca de inversión en la segunda mitad del año en comparación con la primera mitad, a medida que aumentan los niveles de actividad. Sin embargo, señaló que tanto el tiempo de cierre de los acuerdos como la volatilidad del mercado siguen impactando los ingresos. El informe también indica que los préstamos bancarios se mantuvieron relativamente estables en comparación con el año y mes anteriores.
Stifel Financial Corp. (NYSE: SF)는 2024년 8월 31일 기준 운영 결과를 발표했습니다. 보고서에 따르면 총 고객 자산이 15% 증가했습니다 그리고 수수료 기반 자산이 20% 증가했습니다 지난 해 같은 기간과 비교하여. 이러한 성장은 성공적인 채용 노력과 시장의 상승에 기인합니다. 고객의 머니 마켓 및 보험 상품 잔고는 전월 대비 1% 증가했으며, 이는 Smart Rate와 Sweep 잔고의 증가에 의해 추진되었습니다.
CEO Ronald J. Kruszewski는 회사가 올해 하반기 투자은행 수익이 상반기보다 더 강할 것으로 예상하고 있습니다며, 이는 활동 수준이 증가하고 있음을 나타냅니다. 그러나 그는 거래 마감의 시기와 시장 변동성이 여전히 수익에 영향을 미치고 있다고 언급했습니다. 보고서는 또한 은행 대출이 작년 및 지난 달에 비해 상대적으로 안정적으로 유지되었다고 밝혔습니다.
Stifel Financial Corp. (NYSE: SF) a publié ses résultats opérationnels au 31 août 2024. Le rapport montre que les actifs totaux des clients ont augmenté de 15% et que les actifs générant des frais ont crû de 20% par rapport à la même période de l'année dernière. Cette croissance est attribuée à des efforts de recrutement réussis et à l'appréciation du marché. Les soldes des fonds du marché monétaire des clients et des produits assurés ont connu une augmentation de 1% par rapport au mois précédent, soutenue par la croissance des soldes de Smart Rate et Sweep.
Le PDG Ronald J. Kruszewski a déclaré que l'entreprise prévoit des revenus plus forts en banque d'investissement dans la deuxième moitié de l'année par rapport à la première moitié, au fur et à mesure que les niveaux d'activité augmentent. Cependant, il a noté que tant le calendrier des clôtures des transactions que la volatilité du marché continuent d'influencer les revenus. Le rapport indique également que les prêts bancaires sont restés relativement stables par rapport à l'année et au mois précédents.
Die Stifel Financial Corp. (NYSE: SF) hat ihre Betriebsergebnisse zum 31. August 2024 veröffentlicht. Der Bericht zeigt, dass das gesamte Kundenvermögen um 15% gestiegen ist und die gebührenbasierten Vermögenswerte um 20% gewachsen sind im Vergleich zum gleichen Zeitraum des Vorjahres. Dieses Wachstum wird auf erfolgreiche Rekrutierungsmaßnahmen und Marktaufwertung zurückgeführt. Die Guthaben von Kunden im Geldmarkt und bei versicherten Produkten verzeichneten einen monatsweisen Anstieg von 1%, der durch das Wachstum von Smart Rate und Sweep-Guthaben vorangetrieben wurde.
CEO Ronald J. Kruszewski erklärte, dass das Unternehmen für die zweite Jahreshälfte mit höheren Einnahmen aus dem Investmentbanking rechnet im Vergleich zur ersten Jahreshälfte, da die Aktivitätsniveaus steigen. Er stellte jedoch fest, dass sowohl der Zeitpunkt der Abschluss von Geschäften als auch die Marktvolatilität weiterhin die Einnahmen beeinflussen. Der Bericht zeigt auch, dass die Bankkredite im Vergleich zum Vorjahr und zum Vormonat relativ stabil geblieben sind.
- Total client assets increased by 15% year-over-year to $489,237 million
- Fee-based client assets grew by 20% year-over-year to $187,344 million
- Client money market and insured product balances increased by 1% month-on-month
- Anticipation of stronger investment banking revenue in the second half of the year
- Bank loans slightly decreased by 0.4% year-over-year to $20,323 million
- Market volatility and timing of deal closings continue to impact revenue
Insights
Stifel's August 2024 operating data reveals mixed results. Total client assets and fee-based assets showed impressive year-over-year growth of
The flat performance in bank loans (
Investors should monitor the company's ability to convert the growth in client assets into sustainable revenue streams, particularly in the face of potential market challenges. The slight increase in cash balances could provide a buffer, but may also indicate client hesitancy in current market conditions.
Stifel's August 2024 data presents a nuanced picture of the company's performance in the wealth management sector. The substantial year-over-year growth in client assets, particularly fee-based assets, outpaces many industry peers and suggests effective client acquisition strategies and market gains. This growth could translate into increased recurring revenue streams, a positive indicator for long-term stability.
However, the marginal month-over-month increases and flat loan growth hint at potential headwinds. The CEO's cautionary note about investment banking revenue timing and market volatility underscores the challenges facing the financial services sector. Investors should consider how Stifel's diverse business model, including its banking and securities operations, might provide resilience in uncertain market conditions.
The company's performance should be benchmarked against broader industry trends to fully assess its competitive position and growth trajectory.
ST. LOUIS, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today reported selected operating results for August 31, 2024 in an effort to provide timely information to investors on certain key performance metrics. Due to the limited nature of this data, a consistent correlation to earnings should not be assumed.
Ronald J. Kruszewski, Chairman and Chief Executive Officer, said, “Total client assets and fee-based assets increased
| Selected Operating Data (Unaudited) | |||||||||||
| As of | % Change | ||||||||||
| (millions) | 8/31/2024 | 8/31/2023 | 7/31/2024 | 8/31/2023 | 7/31/2024 | ||||||
| Total client assets | 15 | % | 2 | % | |||||||
| Fee-based client assets | 20 | % | 2 | % | |||||||
| Private Client Group fee-based client assets | 19 | % | 2 | % | |||||||
| Bank loans, net (includes loans held for sale) | (0 | )% | 0 | % | |||||||
| Client money market and insured product (1) | 4 | % | 1 | % | |||||||
(1) Includes Smart Rate deposits, Sweep deposits, Third-party Bank Sweep Program, and Other Sweep cash.
Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners and Miller Buckfire business divisions; Keefe, Bruyette & Woods, Inc.; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit www.stifel.com/investor-relations/press-releases.
Media Contact: Neil Shapiro (212) 271-3447 | Investor Contact: Joel Jeffrey (212) 271- 3610 | www.stifel.com/investor-relations
FAQ
What was Stifel Financial Corp's (SF) total client assets as of August 31, 2024?
How much did Stifel's (SF) fee-based client assets grow year-over-year in August 2024?
What factors contributed to Stifel's (SF) client asset growth in August 2024?
How did Stifel's (SF) bank loans perform as of August 31, 2024?
