ST. LOUIS, Dec. 21, 2023 (GLOBE NEWSWIRE) — Stifel Financial Corp. (NYSE:SF) today reported selected operating results for November 30, 2023 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, “In November, client money market and insured balances increased by more than 1% from October’s levels, as cash sorting activity continues to slow. Total client assets increased by 6% and total fee-based assets increased by 7% from the prior month, driven by strong equity and fixed income markets, as well as continued recruiting activity. Institutional Group revenues have improved from third quarter levels as investment banking activity increased from the prior quarter. Delays in M&A closings, however, continue to impact revenue.”
| Selected Operating Data (Unaudited) | |||||
| As of | % Change | ||||
| (millions) | 11/30/2023 | 11/30/2022 | 10/31/2023 | 11/30/2022 | 10/31/2023 |
| Total client assets | $427,843 | $399,626 | $404,057 | 7% | 6% |
| Fee-based client assets | $157,488 | $148,902 | $147,667 | 6% | 7% |
| Private Client Group fee-based client assets | $138,296 | $130,747 | $129,687 | 6% | 7% |
| Bank loans, net (includes loans held for sale) | $20,300 | $20,844 | $20,654 | (3)% | (2)% |
| Client money market and insured product (1) | $25,526 | $26,641 | $25,184 | (4)% | 1% |
(1) Includes Sweep deposits, Smart Rate deposits, Third-party Bank Sweep Program, and Other Sweep cash.