Stifel Financial Corp posted second-quarter net revenue of $1.45 billion, a 13% year-over-year increase, contributing to a record first-half net revenue of $2.9 billion, up 15% from the prior record. Non-GAAP earnings per share reached $1.42 for the quarter, a 25% rise, while first-half earnings per share climbed 28% to $2.87. Global wealth management revenue hit a record $957 million, and institutional revenue grew 15% to $481 million, driven by a 42% surge in investment banking revenue. The company repurchased 2.4 million shares during the quarter and reported a return on tangible common equity of approximately 24%.
Stifel Financial CorporationRecord revenue and earnings beat, with strong wealth management and investment banking growth, plus share buybacks.