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SF · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Stifel Financial Corp. (SF) stock moving?
Stifel's latest hard data is its Q3 2026 report from Oct 21: net revenue of $1.43B was flat year over year, but non-GAAP EPS of $1.46 rose 12% to a record third quarter, asset management revenue grew 14%, net interest income rose 9%, bank loans rose 21%, and ROTCE was 23.9%. Management reported year-to-date revenue of $4.3B (up 9%) and continued buybacks. Since the report, the company has declared a $0.34 quarterly common dividend (Nov 2) and added senior Capital Solutions hires, while the Anthropic collaboration on the advisor Dashboard (Nov 10) is a product initiative without disclosed financial terms. The price tape confirms recent strength: shares closed at $66.69 on Oct 30 and $73.12 on Nov 10, a gain of about 9.6%. The Nov 4 session was the biggest move (up 6.3% to $72.94 on 2.58M shares, about 1.6x the 14-day average of roughly 1.59M), and the stock has since held in the $71–73 area after touching an intraday high of $74.84 on Nov 5. Q3 buybacks were executed at an average of $76.95, above the current price. Risks include flat GAAP revenue, a stock that has already rallied close to its recent high, and the absence of news explaining the Nov 4 volume surge.
News behind the analysis
- Stifel Financial Corp. Collaborates with Anthropic to Enhance Advisor DashboardStifel announced a collaboration with Anthropic to modernize its internal Dashboard platform used by financial advisors. The initiative is a product and technology upgrade with no disclosed financial impact.
- Stifel Reports Third Quarter 2026 ResultsQ3 net revenues were $1.43B, flat year over year, with GAAP EPS of $1.40 and non-GAAP EPS of $1.46, up 12%, the best third quarter in company history. Tangible book value per share rose 12% to $26.05, ROTCE was 23.9%, and the company repurchased $124.0M of stock at an average $76.95.
- Stifel Financial Corp. Declares Quarterly Common and Preferred Stock DividendsStifel declared a quarterly cash dividend of $0.34 per common share and declared dividends on its Series B, C, and D preferred stock.
- Stifel Financial Corp. Expands Capital Solutions Leadership TeamStifel appointed Adam Steinberg, Mickey Brunton, and Gavin Kolt as Managing Directors in its Capital Solutions platform. The hires add senior capacity to an existing business line.
- Keefe, Bruyette & Woods Appoints Mark Tweedie as Head of European Investment BankingKBW, a Stifel subsidiary, appointed Mark Tweedie as Managing Director and Head of Investment Banking in Europe. This is a leadership appointment with no disclosed financial impact.
About Stifel Financial Corp.
Stifel Financial is a St. Louis-based financial services firm. It offers wealth management, commercial and investment banking, trading and research services to individuals, institutions and municipalities. It is known for a large network of financial advisors and a middle-market investment bank, and it reported roughly $580 billion in client assets in mid-2026.
How it makes money
Its Global Wealth Management segment brings in roughly two-thirds of net revenue, which ran at about $1.4–1.5 billion per quarter in 2026. This segment earns asset-management fees on fee-based accounts, brokerage commissions, and net interest income from its bank's loans and client cash deposits. The Institutional Group brings in the remaining roughly one-third. It earns money from investment-banking advisory work such as mergers and acquisitions, from helping companies raise money through stock and bond offerings, and from equity and fixed-income trading.
What usually moves SF
- M&A and capital-raising activity
- Interest rates and client cash balances (net interest income)
- Stock market levels affecting fee-based client assets
- Financial advisor recruiting and retention
- Credit quality of its bank loan book