UPDATE 1-Stifel Financial Q1 profit lags Wall Street

* Q1 EPS $0.44 vs Est $0.48

* Q1 investment banking rev down 29 pct

May 11 (Reuters) - Stifel Financial Corp (SF.N) reported a quarterly profit that was below Wall Street estimates as revenue from its investment banking segment fell 29 percent.

"Our quarter over quarter results were diminished particularly for our private client group and equity capital markets segments, as a result of the continued industry-wide difficult market conditions for corporate investment banking," Chief Executive Ronald Kruszewski said in a statement.

Additionally, overhead costs across all segments increased as the company took advantage of hiring opportunities resulting from market displacements, the CEO said.

Net income for the first quarter was $13.2 million, or 44 cents a share, compared with $14.3 million, or 54 cents a share, in the year-ago quarter.

Analysts expected the investment bank to earn 48 cents a share, according to Reuters Estimates.

Revenue for the quarter was $220.0 million, which marginally missed analysts view of $221.9 million.

Investment banking revenue was $15.5 million, down from $21.8 million, a year ago. Revenue from the company's private client and equity capital market segments saw a decline of 4 percent each.

Shares of the St. Louis-based Stifel closed at $50.48 in regular session on the New York Stock Exchange. (Reporting by Sweta Singh in Bangalore; Editing by Jarshad Kakkrakandy)