Stifel Financial (NYSE:SF) Hits New 1-Year High on Earnings Beat

Stifel Financial Corp. (NYSE:SFGet Free Report)’s stock price reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $120.20 and last traded at $115.52, with a volume of 247 shares. The stock had previously closed at $115.21.

The financial services provider reported $2.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.27. Stifel Financial had a return on equity of 14.92% and a net margin of 12.98%.

Stifel Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.56%. This is an increase from Stifel Financial’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, March 3rd. Stifel Financial’s dividend payout ratio is 30.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SF. StockNews.com downgraded Stifel Financial from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their target price on Stifel Financial from $128.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen lifted their price target on shares of Stifel Financial from $100.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, October 24th. Citigroup upped their price objective on shares of Stifel Financial from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. began coverage on shares of Stifel Financial in a research note on Tuesday, December 10th. They set a “neutral” rating and a $120.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $117.33.

Check Out Our Latest Stock Analysis on Stifel Financial

Insider Buying and Selling

In related news, COO David D. Sliney sold 25,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $116.18, for a total transaction of $2,904,500.00. Following the sale, the chief operating officer now directly owns 159,619 shares of the company’s stock, valued at $18,544,535.42. This trade represents a 13.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.57% of the stock is currently owned by company insiders.

Institutional Trading of Stifel Financial

Several large investors have recently modified their holdings of the company. Squarepoint Ops LLC grew its stake in shares of Stifel Financial by 13.9% during the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the financial services provider’s stock valued at $2,146,000 after purchasing an additional 3,116 shares during the period. Mackenzie Financial Corp bought a new stake in Stifel Financial during the second quarter valued at approximately $1,950,000. Creative Planning increased its holdings in Stifel Financial by 9.8% during the second quarter. Creative Planning now owns 14,891 shares of the financial services provider’s stock valued at $1,253,000 after buying an additional 1,335 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Stifel Financial during the second quarter valued at approximately $3,815,000. Finally, Handelsbanken Fonder AB raised its position in Stifel Financial by 20.3% in the third quarter. Handelsbanken Fonder AB now owns 23,132 shares of the financial services provider’s stock worth $2,172,000 after acquiring an additional 3,900 shares during the period. Institutional investors own 82.01% of the company’s stock.

Stifel Financial Stock Up 0.2 %

The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.27. The firm has a market cap of $12.05 billion, a PE ratio of 21.29 and a beta of 1.11. The company’s 50 day moving average price is $110.84 and its two-hundred day moving average price is $99.57.

About Stifel Financial

(Get Free Report)

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 and internationally. It operates in three segments: Global Wealth Management, Institutional Group, and Other.

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