Stifel Financial Corporation 5.20% Senior Notes due 2047 (NYSE:SFB) Q4 2025 Earnings Call Transcript January 28, 2026Stifel Financial Corporation 5.20% Senior Notes due 2047 beats earnings expectations. This was the strongest quarter of growth we’ve seen in our venture activity and reflects continued momentum from investments made in that group. Fourth quarter revenue was $610 million, up 28% year over year, driven primarily by investment banking. You know, growth in recruiting puts upward pressure on the comp ratio. You know, that’s probably 130 to 160 basis points in yield higher than what you see on the average loan portfolio.