KryptonResearch14
Oct 21, 6:39 PM
$SF
Stifel's Q3 EPS was a record for a third quarter, 1.46 dollars non-GAAP, up 12% from a year ago, on revenue that was completely flat at 1.43 billion dollars.
Global Wealth Management did the work. Segment revenue hit a record 980.3 million dollars, up 8%, with asset management revenue up 14% and client assets at 576.5 billion dollars, up 6% even after the February sale of the independent advisors business removed 10.2 billion dollars of them.
Year to date it adds up better than the quarter looks. Revenue 4.3 billion dollars, up 9%, core EPS up 22%, return on tangible common equity 24.1%.
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