Overview

* Stifel Financial's ( SF ) Q3 revenue rises 17.2% to $1.43 bln, beating analysts' expectations

* Adjusted EPS of $1.95 for Q3 surpasses consensus estimates

* Company repurchased $31.2 mln of common stock during Q3

Outlook

* Stifel optimistic about future opportunities with record investment banking pipelines

* Company cites record client assets as a positive indicator for future growth

Result Drivers

* INVESTMENT BANKING - Investment banking revenues increased 33% over the year-ago quarter, driven by higher advisory and capital raising activities

* GLOBAL WEALTH MANAGEMENT - Record net revenues of $907.4 mln driven by increased client assets and higher asset management revenues

* INSTITUTIONAL REVENUE - Institutional revenue rose 34%, with growth in advisory and capital raising activities

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $1.43 $1.32

Revenue bln bln (5

Analysts

)

Q3 Beat $1.95 $1.88 (7

Adjusted Analysts

EPS )

Q3 EPS $1.84

Q3 $214.42

Adjusted mln

Net

Income

Q3 Net $202.05

Income mln

Q3 ROCE 17%

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the investment banking & brokerage services peer group is "buy"

* Wall Street's median 12-month price target for Stifel Financial Corp ( SF ) is $131.00, about 14.2% above its October 21 closing price of $112.38

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)