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Stifel Financial Corp. ( SF ) Financial Results 3rd Quarter 2021 STIFEL ST . LOUIS , MO , October 27 , 2021 - Stifel Financial Corp. ( NYSE : SF ) today reported net income available to common shareholders of $ 182.7 million , or $ 1.54 per diluted common share on net revenues of $ 1.1 billion for the three months ended September 30 , 2021 , compared with net income available to common shareholders of $ 110.6 million , or $ 0.97 per diluted common share ( 1 ) on net revenues of $ 883.3 million for the third quarter of 2020. For the three months ended September 30 , 2021 , the Company reported non - GAAP net income available to common shareholders of $ 195.7 million , or $ 1.65 per diluted common share . Ronald J. Kruszewski , Chairman and Chief Executive Officer , said " The third quarter's net revenue and EPS were the second highest in our history as both operating segments , Global Wealth Management and Institutional Group , generated strong results . We are on track to generate the 26th consecutive year of record revenue and , through three quarters , we have already surpassed our full year record EPS , set last year . Our success is driven by the continued reinvestment in the business . Based on the strength of our recruiting and investment banking pipelines , as well as our leverage to higher interest rates , Stifel remains well positioned to continue and build upon our decades long growth . " Highlights Net revenues of $ 1.1 billion , increased 30 % compared with the year - ago quarter . Year - to- date record net revenues of $ 3.4 billion , increased 28 % over the comparable period last year . Net income available to common shareholders of $ 1.54 per diluted common share , or $ 1.65 per diluted common share excluding the impact of merger - related expenses , up 59 % over the year - ago quarter . Year - to - date record net income available to common shareholders of $ 4.54 per diluted common share , or $ 4.85 per diluted common share excluding the impact of merger - related expenses , up 75 % over the comparable period last year . Record client assets of $ 407.0 billion , increased 25 % compared with the year - ago quarter . Annualized return on average tangible shareholders ' equity ( ROTCE ) ( 6 ) was 26 % , or 28 % excluding the impact of merger - related expenses . > Tangible book value per common share of $ 27.35 ( 8 ) , up 27 % compared with the year ago quarter . Segment Highlights Financial Summary ( Unaudited ) ( $ in 000s ) 3Q 2021 3Q 2020 9m 2021 9m 2020 GAAP Financial Highlights : Net revenues Net income ( 2 ) $ 1,144,938 $ 182,687 $ 883,300 $ 3,432,863 $ 110,630 $ 537,201 $ 2,692,151 $ 295,419 Diluted EPS ( 1 ) ( 2 ) $ 1.54 $ 0.97 $ 4.54 $ 2.60 Comp . ratio 58.7 % 60.4 % 60.1 % 61.6 % Non - comp . ratio 18.9 % 21.7 % 18.1 % 22.9 % Pre - tax margin 22.4 % 17.9 % 21.8 % 15.5 % Non - GAAP Financial Highlights : Net revenues $ 1,144,938 Net income ( 2 ) ( 3 ) $ 195,653 $ 120,525 $ 883,300 $ 3,433,016 $ 574,145 $ 2,692,330 $ 327,793 Diluted EPS ( 1 ) ( 2 ) ( 3 ) $ 1.65 $ 1.06 $ 4.85 $ 2.89 Comp . ratio ( 3 ) 58.2 % 59.6 % 59.5 % 60.7 % Non - comp . ratio ( 3 ) 17.9 % 21.0 % 17.3 % 22.2 % Pre - tax margin ( 4 ) 23.9 % 19.4 % 23.2 % 17.1 % ROCE ( 5 ) 19.2 % 14.0 % 19.5 % 13.1 % ROTCE ( 6 ) 27.7 % 22.2 % 28.9 % 21.4 % Global Wealth Management ( assets and loans in millions ) Net revenues Pre - tax net income Total client assets Fee - based client assets $ 655,533 $ 526,836 $ 1,924,595 $ 1,615,574 $ 232,119 $ 178,930 $ 682,655 $ 529,422 $ 406,959 $ 325,159 $ 150,472 $ 115,162 Bank loans , net ( 7 ) $ 13,659 $ 10,932 Institutional Group Net revenues $ 492,284 $ 363,365 $ 1,519,176 $ 1,093,699 Pre - tax net income $ 330,014 $ 199,253 $ 1,011,094 $ 162,270 $ 164,112 $ 508,082 $ 125,092 $ 76,841 $ 383,774 $ 605,625 $ 488,074 $ 201,630 Media Contact : Neil Shapiro ( 212 ) 271-3447 | Investor Contact : Joel Jeffrey ( 212 ) 271- 3610 | www.stifel.com/investor-relations Global Wealth Management reported record quarterly net revenues , up 24 % over the comparable period last year reflecting growth in fee - based assets and client activity . Institutional Group quarterly net revenues up 36 % over the comparable period last year as a result of strong advisory fee and capital raising revenues . Equity Fixed Income