Stifel Financial revenue hits $1.48B following record investment banking growth

Stifel Financial (NYSE:SF) delivered a powerful start to 2026, reporting record first-quarter net revenues of $1.48 billion.

The results represent a substantial increase from the $1.26 billion reported in the first quarter of 2025, driven by a resurgence in capital markets activity and the successful execution of a major strategic divestiture.

For the quarter ended March 31, 2026, Stifel reported net income of $242.1 million, or $1.48 per diluted share.

This compares to a net income of $43.7 million in the prior-year period, which was impacted by significant one-time items.

The bottom line was substantially bolstered by a gain from the sale of Stifel Independent Advisors, a transaction completed on February 2, 2026, as the firm continues to refine its focus on its core private wealth and institutional platforms.

The company's investment banking division emerged as a primary growth engine, with revenues surging 44% year-over-year.

Within this segment, advisory fees rose 59%, reflecting a robust environment for middle-market mergers and acquisitions.

Asset management also reached new heights, with total client assets climbing 11% to $538.7 billion.

These gains, alongside higher transaction activity and net interest income, contributed to a Return on Average Tangible Common Equity (ROTCE) of 24.8%.

Meanwhile, Stifel’s balance sheet saw continued strengthening, with tangible book value per share increasing 12% to $24.89.

Demonstrating confidence in its long-term trajectory, the board approved a 3-for-2 stock split, which became effective on February 26, 2026.

Additionally, the firm remained aggressive in its capital return strategy, repurchasing $224.4 million in common stock during the first quarter.