Zacks Investment Research upgraded shares of Stifel Financial (NYSE:SF) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Stifel Financial Corp. is a holding company for Stifel Nicolaus & Company, Incorporated. “
A number of other research firms have also recently commented on SF. ValuEngine raised shares of Stifel Financial from a sell rating to a hold rating in a research report on Thursday, August 2nd. JMP Securities raised shares of Stifel Financial from a market perform rating to an outperform rating in a research report on Wednesday, October 3rd. Wells Fargo & Co decreased their target price on shares of Stifel Financial from $61.00 to $49.00 and set an outperform rating for the company in a research report on Wednesday, October 31st. Wolfe Research initiated coverage on shares of Stifel Financial in a research report on Tuesday, September 25th. They set a market perform rating and a $63.00 target price for the company. Finally, Stifel Nicolaus raised shares of Stifel Financial to an outperform rating in a research report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $66.20.
Stifel Financial (NYSE:SF) last posted its earnings results on Tuesday, October 30th. The financial services provider reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.01. Stifel Financial had a net margin of 9.16% and a return on equity of 14.99%. The company had revenue of $738.34 million during the quarter, compared to analysts’ expectations of $764.90 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. Stifel Financial’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that Stifel Financial will post 5.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, November 30th. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. Stifel Financial’s payout ratio is 12.03%.
In other Stifel Financial news, Director Frederick O. Hanser sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $54.42, for a total transaction of $544,200.00. Following the transaction, the director now owns 40,905 shares in the company, valued at approximately $2,226,050.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael J. Zimmerman purchased 5,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The shares were bought at an average price of $48.39 per share, for a total transaction of $241,950.00. Following the purchase, the director now directly owns 10,694 shares in the company, valued at approximately $517,482.66. The disclosure for this purchase can be found here. Corporate insiders own 3.86% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in Stifel Financial by 0.4% during the 3rd quarter. BlackRock Inc. now owns 8,052,553 shares of the financial services provider’s stock valued at $412,774,000 after purchasing an additional 30,404 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Stifel Financial by 1.2% in the third quarter. Vanguard Group Inc. now owns 6,147,497 shares of the financial services provider’s stock worth $315,120,000 after acquiring an additional 72,007 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Stifel Financial by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 2,715,368 shares of the financial services provider’s stock worth $139,192,000 after acquiring an additional 133,239 shares during the period. Macquarie Group Ltd. increased its stake in shares of Stifel Financial by 9.5% in the third quarter. Macquarie Group Ltd. now owns 2,669,554 shares of the financial services provider’s stock worth $136,841,000 after acquiring an additional 231,712 shares during the period. Finally, Alliancebernstein L.P. increased its stake in shares of Stifel Financial by 3.8% in the third quarter. Alliancebernstein L.P. now owns 2,233,902 shares of the financial services provider’s stock worth $114,510,000 after acquiring an additional 82,325 shares during the period. Institutional investors and hedge funds own 84.79% of the company’s stock.
About Stifel Financial
Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States, the United Kingdom, and rest of Europe. The company operates through three segments: Global Wealth Management, Institutional Group, and Other.
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