Zacks Investment Research lowered shares of Stifel Financial (NYSE:SF) from a buy rating to a hold rating in a research note released on Friday.
According to Zacks, “Stifel Financial Corp. is a holding company for Stifel Nicolaus & Company, Incorporated. “
SF has been the subject of several other reports. Goldman Sachs Group raised Stifel Financial from a neutral rating to a buy rating and raised their price objective for the stock from $56.00 to $77.00 in a research note on Monday, January 8th. Wells Fargo & Co raised their price objective on Stifel Financial from $64.00 to $70.00 in a research note on Thursday, January 4th. Nomura raised Stifel Financial from a neutral rating to a buy rating and raised their price objective for the stock from $58.00 to $77.00 in a research note on Wednesday, January 3rd. ValuEngine raised Stifel Financial from a hold rating to a buy rating in a research note on Wednesday, March 7th. Finally, Instinet raised Stifel Financial from a neutral rating to a buy rating in a research note on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Stifel Financial presently has a consensus rating of Buy and a consensus target price of $67.67.
Stifel Financial (NYSE:SF) last issued its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.55. The company had revenue of $804.10 million for the quarter, compared to analysts’ expectations of $745.44 million. Stifel Financial had a return on equity of 12.04% and a net margin of 6.25%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period last year, the firm earned $0.68 EPS. sell-side analysts predict that Stifel Financial will post 5.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.12 per share. The ex-dividend date is Wednesday, February 28th. This is a positive change from Stifel Financial’s previous quarterly dividend of $0.10. This represents a $0.48 annualized dividend and a dividend yield of 0.71%. Stifel Financial’s dividend payout ratio (DPR) is currently 22.43%.
In other news, Vice Chairman Ben A. Plotkin sold 9,012 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $63.30, for a total value of $570,459.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.60% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc boosted its position in shares of Stifel Financial by 6.8% in the third quarter. Legal & General Group Plc now owns 96,313 shares of the financial services provider’s stock worth $5,151,000 after buying an additional 6,102 shares during the period. Bank of New York Mellon Corp boosted its position in Stifel Financial by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 969,710 shares of the financial services provider’s stock valued at $51,841,000 after purchasing an additional 6,619 shares during the last quarter. Prudential Financial Inc. boosted its position in Stifel Financial by 18.1% during the third quarter. Prudential Financial Inc. now owns 323,874 shares of the financial services provider’s stock valued at $17,314,000 after purchasing an additional 49,690 shares during the last quarter. Wells Fargo & Company MN boosted its position in Stifel Financial by 20.0% during the fourth quarter. Wells Fargo & Company MN now owns 845,420 shares of the financial services provider’s stock valued at $50,355,000 after purchasing an additional 141,127 shares during the last quarter. Finally, Carillon Tower Advisers Inc. acquired a new stake in Stifel Financial during the fourth quarter valued at $41,045,000. 85.21% of the stock is owned by institutional investors and hedge funds.
Stifel Financial Company Profile
Stifel Financial Corp. is a financial holding company. Its principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a retail and institutional wealth management and investment banking firm. It operates through three segments: Global Wealth Management, Institutional Group and Other. The Global Wealth Management segment consists of the Private Client Group and Stifel Bank businesses.
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