Stifel Financial (NYSE:SF) Hits New 52-Week High on Earnings Beat

Shares of Stifel Financial Corp. (NYSE:SF) hit a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $120.20 and last traded at $115.52, with a volume of 247 shares changing hands. The stock had previously closed at $115.21.

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

Stifel Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, March 3rd. This is a boost from Stifel Financial’s previous quarterly dividend of $0.42. Stifel Financial’s dividend payout ratio (DPR) is presently 30.38%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JMP Securities increased their price target on shares of Stifel Financial from $105.00 to $110.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Wells Fargo & Company dropped their price target on shares of Stifel Financial from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. assumed coverage on shares of Stifel Financial in a research report on Tuesday, December 10th. They issued a “neutral” rating and a $120.00 price target for the company. TD Cowen increased their price target on shares of Stifel Financial from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. Finally, StockNews.com lowered shares of Stifel Financial from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $112.00.

Insider Transactions at Stifel Financial

In related news, COO David D. Sliney sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $116.18, for a total value of $2,904,500.00. Following the completion of the sale, the chief operating officer now 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.57% of the company’s stock.

Hedge Funds Weigh In On Stifel Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of SF. Barclays PLC boosted its position in shares of Stifel Financial by 62.2% during the third quarter. Barclays PLC now owns 107,397 shares of the financial services provider’s stock worth $10,086,000 after purchasing an additional 41,171 shares in the last quarter. TT International Asset Management LTD bought a new position in shares of Stifel Financial during the fourth quarter worth $2,759,000. Curi RMB Capital LLC boosted its position in shares of Stifel Financial by 15.7% during the third quarter. Curi RMB Capital LLC now owns 69,301 shares of the financial services provider’s stock worth $6,507,000 after purchasing an additional 9,396 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of Stifel Financial by 4,308.9% during the third quarter. Larson Financial Group LLC now owns 5,423 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 5,300 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Stifel Financial by 18.8% during the third quarter. FMR LLC now owns 7,956,412 shares of the financial services provider’s stock worth $747,107,000 after acquiring an additional 1,256,595 shares during the period. 82.01% of the stock is owned by institutional investors.

Stifel Financial Trading Up 2.1 %

The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $110.79 and its 200 day moving average is $99.44. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 21.27 and a beta of 1.11.

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