Wells Fargo analyst Christopher Harris lowered his price target for Stifel Financial to $49 from $61 after the company reported Q3 EPS results that were about in line with consensus expectations but were inclusive of a sizable revenue miss. The analyst thinks these results are "good enough" as investors were seemingly already discounting a weaker revenue scenario and elements of the forward guide for 2019 are constructive. Harris reiterates an Outperform rating on the shares.

Reports Q1 revenue $1.2B, consensus $1.14B. Ronald Kruszewski, Chairman and CEO, said "Total net revenue of more than $1.16 billion was our second highest quarterly net revenue ever, as the momentum we highlighted at the end of 2023 carried into the first quarter. Record Global Wealth Management revenue and improving market conditions for our Institutional Group drove our top and bottom line growth from the same period a year ago. While the outlook for the remainder of 2024 is not without risk, I remain cautiously optimistic that our diversified business will continue to generate strong returns for this year and beyond."