Stifel Financial Corporation (NYSE:SF) reported first-quarter earnings on Wednesday before the market opened. Here’s a rundown of the report.

Stifel stock is showing weakness. Why are SF shares declining?

Q1 Results Top Estimates

Stifel reported adjusted earnings per share of $1.45, beating the consensus estimate of $1.39. In addition, it reported revenue of $1.47 billion, beating the consensus estimate of $1.43 billion.

Investment banking revenues increased 44% year-over-year, while advisory revenues rose 59% and capital raising revenues increased 22%. Asset management revenues reached record levels, increasing 12% over the year-ago quarter.

In the Global Wealth Management segment, net revenues increased to $932.1 million from $850.6 million, while pre-tax net income rose to $330.7 million from $126.4 million.

In the Institutional Group segment, net revenues increased to $495.3 million from $384.9 million, and pre-tax net income rose to $97.9 million from $27.4 million.

Client assets totaled $538.7 billion, up 11% from the prior year.

The company repurchased $224.4 million, or 2.8 million shares, during the quarter and declared a quarterly dividend of $0.34 per share.

Stifel Shares Edge Lower

SF Price Action: At the time of publication, Stifel shares are trading 3.61% lower at $79.30, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.

Stifel Stock Slips Despite Q1 Double Beat