SECURITIES AND EXCHANGE COMMISSION
                   			  WASHINGTON, D.C.  20549
				     
                   			     FORM 10-K/A No. 1
(Mark One)
/x/Annual  report  pursuant  to Section 13 or  15(d)  of  the  Securities
   Exchange Act of 1934 [Fee Required]
   For the fiscal year ended December 31, 1994

/ /Transition  report  pursuant to Section 13 or  15(d)  of  the  Securities
   Exchange Act of 1934 [No Fee Required]
   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

Securities registered pursuant to Section 12(b) of the Act:
                                   		 			   Name of Each Exchange
       Title of Each Class                   On Which Registered
Common Stock, Par Value $.15 per share     New York Stock Exchange
                                   					   Chicago Stock Exchange

Preferred Stock Purchase Rights            New York Stock Exchange
                                   					   Chicago Stock Exchange
Securities registered pursuant to Section 12(g) of the Act:  None

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 report) and (2) has been  subject  to
such filing requirements for the past 90 days.          Yes /x/ No / /

Indicate by check mark if disclosure of delinquent filers pursuant to  Item
405  of  Regulation S-K is not contained herein, and will not be contained,
to  the  best  of registrant's knowledge in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K, or  any
amendment to this Form 10-K. /x/

Aggregate  market  value  of voting stock held  by  non-affiliates  of  the
registrant at March 15, 1995 was $23,760,907.

Shares  of  Common Stock outstanding at March 15, 1995:  4,198,780  shares,
par value $.15 per share.
				     

  
                    			       EXHIBIT INDEX
				     
	              	  Stifel Financial Corp. and Subsidiaries
                 			Annual Report on Form 10-K/A No. 1
              		       Year Ended December 31, 1994

Exhibit            
Number                        Description                  
- -------               ----------------------------

  27.                  Financial Data Schedule BD.