Stifel Financial Corp (NYSE: SF) reported record fee-based client assets of $239.8 billion as of July 31, 2026, marking a 15% year-over-year increase. The diversified financial services firm also saw total client assets rise to $578.4 billion, up 11% from the prior-year period.

The growth in assets under management was supported by favorable market conditions and continued recruitment efforts, according to Chairman and CEO Ronald J. Kruszewski. Excluding the impact of the Stifel Independent Advisors (SIA) sale in February 2026, fee-based client assets grew 17% year-over-year.

Selected Operating Data

Note: Year-over-year comparisons exclude the $9.8 billion in client assets from the SIA business sold on February 2, 2026.

Lending and Deposit Trends

Bank loans, net, increased 19% year-over-year to $25.6 billion. In July alone, total loans grew more than 3%, led by strength in fund banking and residential mortgages. Management stated the firm remains on track to reach its full-year loan origination guidance of $4 billion.

Treasury deposits surged 59% year-over-year to $11.5 billion, reflecting continued growth in venture deposits. During July, treasury deposits increased by more than $600 million.

Conversely, client money market and insured product balances declined 6% year-over-year to $24.1 billion. This decrease was primarily attributed to lower sweep balances during the month.

What the Numbers Show

Fee-based client assets represent approximately 41% of total client assets ($239.8 billion vs $578.4 billion). The divergence between the 15% growth in fee-based assets and the 6% decline in money market/insured product balances suggests a shift in client asset allocation toward managed investment products rather than cash-equivalent holdings, even as overall AUM expands.

Stifel Financial Corp. has declared a quarterly cash dividend of $0.34 per share on its common stock, signaling sustained confidence in its capital position and cash flow generation. The dividend is payable on September 15, 2026, to shareholders of record at the close of business on September 1, 2026. This distribution underscores the firm’s ability to maintain consistent returns to investors while operating across wealth management, commercial and investment banking, trading, and research services.

The Board of Directors also declared quarterly cash dividends on three series of non-cumulative perpetual preferred stock: Series B, Series C, and Series D. These dividends cover the period from June 16, 2026, up to but excluding September 15, 2026. Like the common stock dividend, payments are scheduled for September 15, 2026, with the same record date of September 1, 2026.

Preferred Stock Dividend Details

The preferred stock dividends vary by series based on their respective coupon rates and structures. The following table outlines the declared amounts per depositary share and per full preferred share:

All three series trade on the New York Stock Exchange under their respective symbols: SF PrB for Series B, SF PrC for Series C, and SF PrD for Series D. The consistency in payment timing across common and preferred equity highlights Stifel’s structured approach to capital allocation.

What the Numbers Show

The declaration of dividends across both common and multiple preferred tiers indicates a broad-based commitment to shareholder remuneration. The preferred stock dividends, particularly for Series B and C, reflect higher absolute payouts due to their elevated coupon rates compared to Series D. This tiered structure allows Stifel to cater to different investor risk-return profiles while maintaining liquidity discipline.

As a diversified financial services firm founded in 1890 and headquartered in St. Louis, Missouri, Stifel operates more than 400 offices across the United States and in major global financial centers. The company serves individuals, institutions, and municipalities through its wealth management, banking, trading, and research platforms. For further details, investors may visit www.stifel.com or contact Investor Relations at (212) 271-3610.