Advisory revenue was $127 million with strong contributions from financials, industrials, and improving health care and technology sectors.
Asset management revenues rose 6%, reflecting market appreciation and improved organic growth.
Commissions and principal transactions rose 11% with gains in both Global Wealth and Institutional segments.
Compensation ratio was 58%, consistent with the high end of full year guidance, and operating pretax margin was 20.3%.
Equity capital raising totaled $46 million with a market shutdown for six weeks post-Liberation Day but recovery mid-May.
Equity transactional revenue increased 16% year-over-year, and fixed income revenue rose 21% year-over-year.
Fixed income underwriting revenue was $54 million, up 18% sequentially driven by public finance activity.
Global Wealth Management posted its strongest second quarter ever with record client asset levels and higher net interest income.
Institutional business revenue increased 7% year-over-year, with record fixed income revenue and a late quarter pickup in investment banking.
Investment banking revenue totaled $233 million, exceeding guidance by over $20 million due to six transactions closing late in the quarter.
Net interest income increased 8% due to higher interest earning assets and lower funding costs.
Net interest income of $270 million came in at the high end of guidance with a 12 basis point increase in bank net interest margin.
Non-compensation expenses increased 7% year-over-year, with severance and restructuring charges of $28 million in European operations.
Operating EPS of $1.71 was up 7% from the prior year.
Provision for income taxes was 25.4%, slightly above consensus due to nondeductible foreign losses.
Stifel Financial delivered over $1.28 billion of net revenue and $1.71 in core EPS in Q2 2025, marking the best second quarter in company history with a return on tangible common equity of 22%.
Tier 1 leverage capital ratio was 10.8%, and Tier 1 risk-based capital ratio was 17.5%, with approximately $315 million of excess capital.
Adjusted EPS was $4.66, up 5.7% from the prior year, supported by share repurchases and higher net income.
EBITDA for fiscal 2025 was $976 million, a 1.4% improvement over the prior year but within the outlook range.
Free cash flow generation was approximately $600 million, supporting strong liquidity and capital allocation.
H&R Block reported fiscal 2025 total revenue of $3.8 billion, a 4.2% increase year-over-year.
Net income from continuing operations was $609 million, with earnings per share (EPS) of $4.42, a 6.8% increase year-over-year.
Total operating expenses increased 4.6% to $2.9 billion, driven by higher tax professional wages, benefits, healthcare costs, legal fees, and severance charges.
Business Insurance saw 8% written premium growth with an underlying combined ratio of 88; Small Business delivered 9% premium growth and an 89 combined ratio.
Catastrophe losses were $212 million before tax, representing 4.9 combined ratio points, primarily from tornado, wind, and hail events, with CAT losses below market share.
Employee Benefits achieved a core earnings margin of 9.2%, driven by strong life and disability results, with persistency in the low 90s and flat fully insured premium growth.
Expense ratios improved across Business Insurance and Personal Insurance, driven by operating leverage and higher earned premiums.
Net investment income increased to $664 million, with a portfolio yield of 4.6% before tax, and limited partnership returns expected to improve in the second half of the year.
Personal Insurance improved with a combined ratio of 88, auto combined ratio improved by 9.7 points to 95.2, and homeowners combined ratio was 72.7 with 17% written premium growth.
The Hartford reported outstanding second quarter 2025 results with core earnings nearly $1 billion and a trailing 12-month core earnings ROE of 17%.
Asset quality remained strong despite one commercial borrower filing for bankruptcy, with past due loans at eight basis points, net charge-offs at two basis points, and non-performing loans at 37 basis points.
Camden National Corporation reported strong second quarter 2025 earnings of $14.1 million, with diluted earnings per share of $0.83 and adjusted non-GAAP earnings of $15.2 million or $0.89 per share.
Loan growth was 1% during the quarter, primarily from commercial and home equity loans, with a robust $150 million committed loan pipeline, a 40% increase over last quarter.
Net interest margin expanded by two basis points to 3.06%, and the non-GAAP efficiency ratio improved to 55.5%, the lowest since 2022.
Noninterest income reached $13.1 million, beating prior guidance, while noninterest expense was $37.6 million, 15% lower than the first quarter.
Pretax pre-provision income excluding one-time merger-related expenses rose 13% from the prior quarter, reflecting early success in realizing cost synergies from the Northway acquisition.
Tangible common equity ratio increased to 6.77%, with tangible book value per share rising 3% to $26.9.
Total revenues grew 4% over the prior quarter to $62.3 million, driven by net interest income and noninterest income growth.
Dafinchi