Stifel Financial (NYSE: SF) reported Q3 EPS of $1.46, $0.13 better than the analyst estimate of $1.33. Revenue for the quarter came in at $883.3 million versus the consensus estimate of $852.06 million.

• Net revenues of $883.3 million, increased 7.5% with the year-ago quarter.
• Net income available to common shareholders of $110.6 million, or $1.46 per diluted common share.
• Non-GAAP net income available to common shareholders of $120.5 million, or $1.59 per diluted common share.
• Annualized return on average tangible common shareholders’ equity (1) was 20.4%.
• Non-GAAP annualized return on average tangible common shareholders’ equity (1) was 22.2%.

“The financial performance during the quarter, and over the past few years, has been driven by a diverse business mix that’s enabled both our Institutional Group and Wealth Management segments to generate strong growth. This diversification is illustrated by record nine month Wealth Management revenues despite significant declines in net interest income and deposit sweep fees, both a result of the Federal Reserve’s implementation of a zero rate environment. Likewise, we achieved record nine-month Institutional Group revenues as record capital raising and brokerage revenues more than compensated for the 13% decline in advisory revenue,” stated Ronald J. Kruszewski, Chairman and Chief Executive Officer of Stifel.

Mr. Kruszewski continued, “Simply, Stifel is a growth company with diversified, balanced, and synergistic businesses. Over the last 12 months, Wealth Management, under both brokerage and fee-based models, has contributed 46% of net revenues. Institutional revenues, comprised of equity and fixed income, investment banking and trading, made up 41% of net revenues, while net interest income accounted for the remaining 13%. The complementary nature of these businesses is reflected in our return on tangible common equity, which is 23% over the past 12 months.”

For earnings history and earnings-related data on Stifel Financial (SF) click here.