Stifel Financial Corp. reported third-quarter 2026 net revenues of $1.43 billion, essentially flat from $1.43 billion a year earlier, while net income available to common shareholders rose to $224.8 million from $202.1 million. Diluted earnings per share increased to $1.40 from $1.22, and non-GAAP diluted EPS rose to $1.46 from $1.30.
For the first nine months of 2026, net revenues climbed to $4.36 billion from $3.97 billion a year ago. Net income available to common shareholders increased to $684.1 million from $391.5 million, and diluted EPS advanced to $4.23 from $2.37. On a non-GAAP basis, nine-month net income reached $700.9 million versus $454.3 million, with diluted EPS of $4.33 compared with $2.76.
The company said year-to-date revenue was up 9% and core earnings per share were up 22%, while return on tangible common equity reached 24.1% year to date. Tangible book value per common share increased 12% from a year earlier to $26.05.
Global Wealth Management generated record quarterly net revenues of $980.3 million, up from $907.4 million a year ago. Pre-tax net income rose to $374.4 million from $342.7 million. Within the division, asset management revenue increased 14% to $492.1 million, net interest income rose 11% to $284.6 million, and transactional revenues slipped 3% to $196.2 million. Client assets increased to $576.5 billion from $544.0 billion, while fee-based client assets rose to $239.7 billion from $219.2 billion. Bank loans in the segment increased to $26.1 billion from $21.6 billion.
Institutional Group posted quarterly net revenues of $430.3 million, down from $500.4 million a year earlier. Pre-tax net income fell to $76.3 million from $89.3 million. Investment banking revenue declined to $299.5 million from $317.0 million, with advisory revenue down to $173.0 million from $179.3 million, equity capital raising down to $68.6 million from $78.8 million, and fixed income capital raising down to $57.9 million from $58.9 million. Fixed income transactional revenue dropped to $80.5 million from $122.6 million, while equity transactional revenue fell to $41.2 million from $58.3 million.
Stifel repurchased $124.0 million of stock in the quarter, equal to 1.6 million shares, compared with $33.1 million and 438,000 shares a year earlier. Over the last 12 months, repurchases totaled $564.4 million, or 7.3 million shares. Period-end common shares outstanding fell to 150.1 million from 152.9 million, and weighted average diluted shares declined to 160.1 million from 165.1 million.
The company’s effective tax rate fell to 24.4% from 26.1%. Tier 1 common capital ratio was 14.5%, down from 14.8%; Tier 1 risk-based capital ratio was 17.0%, down from 17.6%; and Tier 1 leverage capital ratio was 10.8%, down from 11.1%. Tier 1 capital increased to $4.67 billion from $4.27 billion, risk-weighted assets rose to $27.45 billion from $24.24 billion, average assets increased to $43.06 billion from $38.33 billion, and quarter-end assets rose to $45.28 billion from $41.69 billion. Following these announcements, the company's shares moved 1.17%, and are now trading at a price of $66.83. If you want to know more, read the company's complete 8-K report here.
