New York State Teachers Retirement System Increases Stock Position in Stifel Financial Corporation $SF

New York State Teachers Retirement System grew its holdings in shares of Stifel Financial Corporation (NYSE:SF) by 46.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 209,930 shares of the financial services provider’s stock after buying an additional 66,657 shares during the period. New York State Teachers Retirement System’s holdings in Stifel Financial were worth $15,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of Stifel Financial in the 3rd quarter valued at approximately $29,000. Activest Wealth Management grew its holdings in Stifel Financial by 12,000.0% during the fourth quarter. Activest Wealth Management now owns 242 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 240 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Stifel Financial during the fourth quarter worth $34,000. Cullen Frost Bankers Inc. purchased a new position in Stifel Financial in the fourth quarter worth $50,000. Finally, BOKF NA raised its position in Stifel Financial by 1,626.9% in the third quarter. BOKF NA now owns 449 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 423 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Stifel Financial Stock Performance

Shares of SF stock opened at $73.12 on Friday. The stock has a fifty day moving average price of $73.23 and a 200 day moving average price of $77.65. The stock has a market cap of $11.22 billion, a PE ratio of 14.23 and a beta of 1.01. Stifel Financial Corporation has a 1 year low of $67.81 and a 1 year high of $89.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85.

Stifel Financial (NYSE:SF) last posted its earnings results on Wednesday, April 22nd. The financial services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.06. Stifel Financial had a return on equity of 18.76% and a net margin of 15.34%.The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company earned $0.49 earnings per share. Stifel Financial’s revenue was up 17.7% compared to the same quarter last year. Sell-side analysts forecast that Stifel Financial Corporation will post 6.25 earnings per share for the current fiscal year.

Stifel Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Monday, June 1st. Stifel Financial’s dividend payout ratio is presently 26.46%.

Wall Street Analyst Weigh In

Several brokerages have commented on SF. UBS Group decreased their target price on shares of Stifel Financial from $100.00 to $89.00 and set a “buy” rating on the stock in a research report on Wednesday, April 8th. Zacks Research upgraded shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stifel Financial in a research note on Friday, May 29th. Finally, TD Cowen decreased their price objective on shares of Stifel Financial from $136.00 to $92.00 and set a “hold” rating on the stock in a report on Monday, March 23rd. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.15.

About Stifel Financial

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.