Bank of America Corp DE raised its holdings in Stifel Financial Corp. (NYSE:SF – Get Rating) by 5.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 891,924 shares of the financial services provider's stock after buying an additional 47,110 shares during the quarter. Bank of America Corp DE owned about 0.84% of Stifel Financial worth $60,563,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its stake in Stifel Financial by 9.6% in the first quarter. Mercer Global Advisors Inc. ADV now owns 24,159 shares of the financial services provider's stock valued at $1,640,000 after buying an additional 2,113 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of Stifel Financial in the first quarter worth about $3,964,000. Squarepoint Ops LLC raised its stake in shares of Stifel Financial by 101.7% in the fourth quarter. Squarepoint Ops LLC now owns 17,074 shares of the financial services provider's stock worth $1,202,000 after purchasing an additional 8,611 shares during the last quarter. Capital Fund Management S.A. purchased a new position in shares of Stifel Financial in the first quarter worth about $949,000. Finally, Journey Strategic Wealth LLC purchased a new position in shares of Stifel Financial in the fourth quarter worth about $206,000. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
Get Stifel Financial alerts:Stifel Financial Trading Down 1.9 %
Shares of NYSE:SF opened at $53.39 on Tuesday. Stifel Financial Corp. has a 52-week low of $52.55 and a 52-week high of $83.28. The stock has a market cap of $5.67 billion, a price-to-earnings ratio of 8.42 and a beta of 1.25. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $60.37 and a 200-day moving average price of $61.75.
Stifel Financial (NYSE:SF – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $1.40 earnings per share for the quarter. The company had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.18 billion. Stifel Financial had a return on equity of 19.42% and a net margin of 16.86%. Stifel Financial's quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the business earned $1.70 earnings per share.Stifel Financial Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.25%. The ex-dividend date was Wednesday, August 31st. Stifel Financial's dividend payout ratio is currently 18.93%.
Analyst Upgrades and Downgrades
Separately, JMP Securities reduced their price objective on Stifel Financial from $103.00 to $100.00 and set an "outperform" rating for the company in a research note on Tuesday, July 12th.
Stifel Financial Company Profile
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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, the rest of Europe, and Canada.
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