8-K

                     	SECURITIES AND EXCHANGE COMMISSION
                          	WASHINGTON, D.C. 20549

	                                      
                           ----------------------


                                 	FORM 8-K


                             	CURRENT REPORT
                 	PURSUANT TO SECTION 13 OR 15(d) OF THE
                     	SECURITIES EXCHANGE ACT OF 1934





Date of Report (Date of Earliest Event Reported):  February 7, 1995





                          STIFEL FINANCIAL CORP.
         	(Exact Name of Registrant as specified in its Charter)


       Delaware         	            1-9305            	    43-1273600    
(State of Incorporation)   	(Commission File Number)     	(IRS Employer
                                                       			Identification No.)



                            	500 North Broadway
                     St. Louis, Missouri  63102-2188                        
       (Address of principal executive offices including zip code)




        	                     (314) 342-2000                        
          	(Registrant's telephone number, including area code)


Item 7.	Financial Statements, Pro Forma Financial Information and Exhibits.

     		(a)	Financial Statements of Businesses Acquired.

         		None.

     		(b)	Pro Forma Financial Information.

         		None.

     		(c)	Exhibits.

         		Exhibit 99(a):  Press Release dated February 7, 1995 announcing an
           agreement to sell the assets of the Oklahoma division of Stifel,
           Nicolaus & Company, Incorporated (a wholly-owned subsidiary of
           Stifel Financial Corp.) to Capital West Securities, Inc. ("Capital
           West Securities"), an Oklahoma corporation and a wholly-owned
           subsidiary of Capital West Financial Corporation, an Oklahoma
           corporation.


                                 	SIGNATURES

	Pursuant to the requirements of the Securities Exchange Act of 1934, the
 registrant has duly caused this report to be signed on its behalf by the
 undersigned hereunto duly authorized.

                                      	STIFEL FINANCIAL CORP.


Date February 21, 1995		               By:	/s/ Mark D. Knott
                                     						Mark D. Knott
                                     						Chief Financial Officer


                                	Exhibit Index



                                                  									Sequential
Exhibit No.		           Description		                     		Page No.  
- -----------          ------------------                    ----------
 
   99(a)		   		Press Release dated February 7, 1995	           4

EX-99

                                Exhibit 99(a)
                            Stifel Financial Corp
                                Press Release


     St. Louis, February 7, 1995 - Stifel, Nicolaus & Company, Incorporated, a 
wholly-owned subsidiary of Stifel Financial Corp., today announced its
agreement to sell the assets of its Oklahoma division to Capital West Financial
Corporation, an Oklahoma corporation.  Terms were not disclosed.

    	The transaction would place all of Stifel's retail offices in the state of
Oklahoma and the Oklahoma-based municipal finance, institutional sales, and
trading departments under the banner of Capital West Securities, Inc., a
wholly owned subsidiary of Capital West Financial Corporation.  In addition,
Capital West would acquire certain of Stifel's Texas offices.

    	Capital West Securities will use Stifel as its clearing firm in order to
effect a smooth transition for clients and brokers.  Stifel's municipal
finance business will now be consolidated in St. Louis.

    	The Oklahoma offices contributed approximately 14% of Stifel's total
commission revenue in 1994.  After this transaction, Stifel will have over
300 brokers in 14 states.

     Gregory F. Taylor, president and chief executive officer, said "This
transaction is a truly remarkable one, in that all parties stand to benefit
equally in the completion of this deal.  Stifel will become more focused, and
Capital West becomes the largest securities firm based in Oklahoma."

    	George H. Walker III, chairman of the board, said "Stifel, Nicolaus has
enjoyed a productive franchise in Oklahoma since 1967 when we entered the
state by way of acquisition.  Because of the advantages of local ownership, 
the respect we have for the principal officers of Capital West, and the close 
working relationship we anticipate going forward, we are pleased to be able to
make this announcement and view it as a positive development for our company."
The principal officers of Capital West are Robert O. McDonald, Robert M. Jones,
Michael B. Garrett, Edward F. Marburger, Gregory M. Jones and Donald A. Pape.

    	Stifel Financial Corp. is a financial services holding company whose
subsidiaries are engaged in the general securities brokerage, investment 
banking, and money management areas.