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  <B><FONT SIZE=4><P ALIGN="CENTER">UNITED STATES<BR>
  SECURITIES AND EXCHANGE COMMISSION<BR>
  </B>Washington, D.C.  20549</P>
  </FONT><P ALIGN="CENTER"></P>
  <P ALIGN="CENTER">&nbsp;</P>
  <P ALIGN="CENTER">&nbsp;</P>
  <B><FONT SIZE=5><P ALIGN="CENTER">FORM 8-K</P>
  </B></FONT><P ALIGN="CENTER"></P>
  <P ALIGN="CENTER">&nbsp;</P>
  <B><P ALIGN="CENTER">CURRENT REPORT</P>
  <P ALIGN="CENTER"></P>
  <P ALIGN="CENTER">PURSUANT TO SECTION 13 OR 15(d) OF THE <BR>
  SECURITIES EXCHANGE ACT OF 1934</P>
  </B><P ALIGN="CENTER"></P>
  <P ALIGN="CENTER">&nbsp;</P>
  <P ALIGN="CENTER">Date of Report (Date of Earliest Event Reported):  August 20, 2003</P>
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  <P ALIGN="CENTER">&nbsp;</P>
  <P ALIGN="CENTER">&nbsp;</P>
  <B><U><FONT SIZE=5><P ALIGN="CENTER">STIFEL FINANCIAL CORP</U>.<BR>
  </B></FONT>(Exact Name of Registrant as specified in its Charter)</P>
  <P ALIGN="CENTER"></P>
  <P ALIGN="CENTER"><CENTER><TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=638>
  <TR><TD WIDTH="33%" VALIGN="TOP">
  <U><P ALIGN="CENTER">Delaware<BR>
  </U>(State of Incorporation)</TD>
  <TD WIDTH="33%" VALIGN="TOP">
  <U><P ALIGN="CENTER">1-9305<BR>
  </U>(Commission File Number)</TD>
  <TD WIDTH="33%" VALIGN="TOP">
  <U><P ALIGN="CENTER">43-1273600<BR>
  </U>(IRS Employer<BR>
  Identification No.)</TD>
  </TR>
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  <P ALIGN="CENTER">&nbsp;</P>
  <P ALIGN="CENTER">One Financial Plaza<BR>
  501 North Broadway<BR>
  <U>St. Louis, Missouri 63102-2188<BR>
  </U>(Address of principal executive offices, including zip code)</P>
  <P ALIGN="CENTER"></P>
  <P ALIGN="CENTER">&nbsp;</P>
  <U><P ALIGN="CENTER">(314) 342-2000<BR>
  </U>(Registrant's telephone number, including area code</P>
  <P ALIGN="CENTER" ><FONT SIZE=2 COLOR ="#708090"><I> </I></FONT><BR>
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  <B><P>&nbsp;</P>
  <P>Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits</P>
  </B>
  <P>(c)  Exhibits.</P>
  
  <P>&#9;Exhibit 99: Press Release</P>
  <P ALIGN="CENTER"></P>
  <B><P>Item 9.  Regulation FD Disclosure</P>
  </B><P ALIGN="JUSTIFY">&#9;On August 20, 2003, Stifel Financial Corp. (the "Registrant") announced the decision of the United States District Court for the Western District of Kentucky to vacate a significant portion of a previously announced NASD arbitration award against its subsidiary, Stifel, Nicolaus &amp; Company, Incorporated ("Stifel").  The arbitration, which arose in connection with the activities of a former Stifel broker in its Pikeville, Kentucky office, had resulted in an initial award of $4.4 million in October 2002.  In an order entered August 19, 2003, the federal court vacated the award with respect to all trading claims and confirmed with respect to a misappropriation claim, reducing the final judgment against Stifel to $500,000, plus applicable interest.</P>
  
  <P ALIGN="JUSTIFY">&#9;The press release is attached as Exhibit 99.  Certain statements contained in the press release are forward-looking statements.  Such statements are based on management's current expectations and actual results may differ materially from those currently expected.</P>
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  <B><P ALIGN="CENTER">SIGNATURE</P>
  </B><P ALIGN="JUSTIFY"></P>
  <P ALIGN="JUSTIFY">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.</P>
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  <P>STIFEL FINANCIAL CORP.</P>
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  <P>Date:  August 20, 2003</TD>
  <TD WIDTH="50%" VALIGN="TOP">
  <P>By:<U>  /s/  James M. Zemlyak&#9;&#9;<BR>
  </U>Name:  James M. Zemlyak<U><BR>
  </U>Title:  Chief Financial Officer</TD>
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metadata_filer: {"company-data": {"conformed-name": "STIFEL FINANCIAL CORP", "cik": "0000720672", "assigned-sic": "6211", "irs-number": "431273600", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09305", "film-number": "03859236"}, "business-address": {"street1": "ATTN: JAMES G. LASCHOBER", "street2": "501 N. BROADWAY", "city": "ST. LOUIS", "state": "MO", "zip": "63102-2102", "phone": "314-342-2000"}, "mail-address": {"street1": "ATTN: JAMES G. LASCHOBER", "street2": "501 N. BROADWAY", "city": "ST. LOUIS", "state": "MO", "zip": "63102-2102"}}
text: SECURITIES AND EXCHANGE COMMISSION
  UNITED STATES
  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):  August 20, 2003
  STIFEL FINANCIAL CORP
  .
  (Exact Name of Registrant as specified in its Charter)
  Delaware
  (State of Incorporation)
  1-9305
  (Commission File Number)
  43-1273600
  (IRS Employer
  Identification No.)
  One Financial Plaza
  501 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
  (c)  Exhibits.
  Exhibit 99: Press Release
  Item 9.  Regulation FD Disclosure
  On August 20, 2003, Stifel Financial Corp. (the "Registrant") announced the decision of the United States District Court for the Western District of Kentucky to vacate a significant portion of a previously announced NASD arbitration award against its subsidiary, Stifel, Nicolaus & Company, Incorporated ("Stifel").  The arbitration, which arose in connection with the activities of a former Stifel broker in its Pikeville, Kentucky office, had resulted in an initial award of $4.4 million in October 2002.  In an order entered August 19, 2003, the federal court vacated the award with respect to all trading claims and confirmed with respect to a misappropriation claim, reducing the final judgment against Stifel to $500,000, plus applicable interest.
  The press release is attached as Exhibit 99.  Certain statements contained in the press release are forward-looking statements.  Such statements are based on management's current expectations and actual results may differ materially from those currently expected.
  SIGNATURE
  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:  August 20, 2003
  By:
  /s/  James M. Zemlyak
  Name:  James M. Zemlyak
  Title:  Chief Financial Officer