10-Q/A

                      SECURITIES AND EXCHANGE COMMISSION                   

                   					   WASHINGTON, D.C.  20549

                 					       FORM 10-Q/A NO. 1

(Mark One)
/ x /     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
         		  EXCHANGE ACT OF 1934

For the quarterly period ended  September 30, 1994      

OR

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

           For the transition period from __________ to __________         

                     			Commission file number  1-9305                          

                   					    STIFEL FINANCIAL CORP.      
	            (Exact name of registrant as specified in its charter)

    	    DELAWARE                               43-1273600      
	(State or other jurisdiction of      (I.R.S. Employer Identification No.)      
 incorporation or organization)         
	
	500 N. Broadway, St. Louis, Missouri                  63102-2188   
	(Address of principal executive offices)              (Zip Code)

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

       	   _____________________________________________________
	          (Former name, former address, and former fiscal year,
              		       if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports) and (2) has been subject to
such filing requirements for the past 90 days.  Yes   / x /    No   /   /

Shares of common stock outstanding at September 30, 1994:  3,891,419 par 
    value $.15.


Pursuant to the Securities Exchange Act of 1934 and Regulation S-T of the
Securities and Exchange Commission, the registrant is filing this Form 10-Q/A
No. 1 in order to amend the Exhibit 27, Financial Data Schedule, for the
nine-month year to date period ended September 30, 1994.




                          				   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 thereunto duly authorized. 



                                 						STIFEL FINANCIAL CORP.
                                    							(Registrant)

Date:   November 21, 1994              By /s/ Gregory F. Taylor       
                                 									Gregory F. Taylor
                                   							(Chief Executive Officer)


Date:   November 21, 1994              By /s/ Mark D. Knott   
                                    						Mark D. Knott
                                    						(Principal Financial Officer)



                       			      EXHIBIT INDEX




       	   Exhibit                                                     
      	    Number                          Description                
       	--------------         -----------------------------------
       	     27                      Financial Data Schedule       

EX-27

 

<ARTICLE> BD
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 
CONSOLIDATED STATEMENT OF FINANCIAL CONDITION DATED SEPTEMBER 30, 1994 AND
THE STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1994 AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-START>                             JAN-01-1994
<PERIOD-END>                               SEP-30-1994
<CASH>                                       6,514,737
<RECEIVABLES>                              172,731,843
<SECURITIES-RESALE>                                  0
<SECURITIES-BORROWED>                        3,342,063
<INSTRUMENTS-OWNED>                         19,039,022
<PP&E>                                       4,496,698
<TOTAL-ASSETS>                             220,655,163
<SHORT-TERM>                                64,600,000
<PAYABLES>                                  56,334,627
<REPOS-SOLD>                                         0
<SECURITIES-LOANED>                         42,600,839
<INSTRUMENTS-SOLD>                           7,363,375
<LONG-TERM>                                 10,760,000
<COMMON>                                       617,886
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                  38,378,436
<TOTAL-LIABILITY-AND-EQUITY>               220,655,163
<TRADING-REVENUE>                           16,659,807
<INTEREST-DIVIDENDS>                         7,939,749
<COMMISSIONS>                               30,406,740
<INVESTMENT-BANKING-REVENUES>                9,930,380
<FEE-REVENUE>                                1,928,788
<INTEREST-EXPENSE>                           4,312,391
<COMPENSATION>                              46,066,914
<INCOME-PRETAX>                            (1,615,653)
<INCOME-PRE-EXTRAORDINARY>                 (1,615,653)
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (972,015)
<EPS-PRIMARY>                                   (0.24)
<EPS-DILUTED>                                   (0.24)