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STIFEL April 27 , 2021 news FOR IMMEDIATE RELEASE Media Contact : Neil Shapiro ( 212 ) 271-3447 Investor Contact : Joel Jeffrey ( 212 ) 271-3610 www.stifel.com/investor-relations STIFEL REPORTS FIRST QUARTER 2021 RESULTS • Record net revenues of $ 1.1 billion , increased 24.3 % with the year - ago quarter . • • • • • • Record net revenues in Global Wealth Management and Institutional Group segments . Net income available to common shareholders of $ 164.7 million , or $ 1.40 per diluted common share . Non - GAAP net income available to common shareholders of $ 176.4 million , or $ 1.50 per diluted common share . Record client assets of $ 378.6 billion , increased 36.9 % compared with the year - ago quarter and 5.9 % sequentially . Annualized return on average tangible common shareholders ' equity ( ¹ ) was 26.5 % . Non - GAAP annualized return on average tangible common shareholders ' equity ( ¹ ) was 28.4 % . The Board of Directors declared a $ 0.15 quarterly dividend per share , an increase of 36 % from the prior quarter . ST . LOUIS , MO - Stifel Financial Corp. ( NYSE : SF ) today reported net income available to common shareholders of $ 164.7 million , or $ 1.40 per diluted common share on record net revenues of $ 1.1 billion for the three months ended March 31 , 2021 , compared with net income available to common shareholders of $ 81.7 million , or $ 0.71 per diluted common share , ( 2 ) on net revenues of $ 913.0 million for the first quarter of 2020 . For the three months ended March 31 , 2021 , the Company reported non - GAAP net income available to common shareholders of $ 176.4 million , or $ 1.50 per diluted common share . The Company's reported GAAP net income for the three months ended March 31 , 2021 was primarily impacted by merger - related expenses . Details discussed below and in the “ Non - GAAP Financial Matters ” section . Chairman's Comments " I am pleased with our first quarter results as we generated record net revenue and the second highest earnings per share in Stifel's history , " stated Ronald J. Kruszewski , Chairman and Chief Executive Officer of Stifel . “ The strength of our performance was driven by record revenue in both our operating segments , Global Wealth Management and Institutional Group . The operating environment in 2021 has been a tailwind to our business as the equity markets are up , client engagement is strong , credit remains solid , and investment banking activity surged . Our results in the quarter again illustrate the benefits of our diverse business as the investments we have made have enabled us to participate in these robust market conditions to a far greater magnitude than we could have in years past . Looking forward , Stifel is well positioned for another strong year . " Financial Highlights ( Unaudited ) ( $ in 000s , except per share data ) Three Months Ended GAAP 3/31/21 Net revenues $ 1,134,789 Net income $ 173,015 Preferred dividends 8,289 Net income available to common shareholders Earnings per diluted common share ( 2 ) $ GAAP 3/31/20 $ 913,034 $ 86,589 4,844 $ 164,726 $ 81,745 1.47 $ 0.75 % Change GAAP 12/31/20 24.3 $ 1,059,910 99.8 $ 188,469 71.1 7,677 101.5 $ 180,792 96.0 $ % Change 1.61 Non- GAAP ( 3 ) 3/31/21 7.1 $ 1,134,980 ( 8.2 ) $ 184,714 8.0 8,289 ( 8.9 ) $ 176,425 ( 8.7 ) $ Non- GAAP ( 3 ) 3/31/20 % Change $ 913,213 24.3 $ 96,777 90.9 4,844 71.1 $ 91,933 91.9 1.57 $ 0.84 86.9 Earnings per diluted common share available to common shareholders ( 2 ) $ 1.40 $ 0.71 97.2 $ 1.55 ( 9.7 ) $ 1.50 $ 0.80 87.5 Compensation ratio 61.5 % 63.2 % 58.6 % 60.9 % 62.5 % Non - compensation ratio 18.4 % 24.2 % 19.3 % 17.7 % 23.4 % Pre - tax operating margin ( 4 ) 20.1 % 12.6 % 22.1 % 21.4 % 14.1 % 1