Basswood Capital Management L.L.C. Takes $7.28 Million Position in Stifel Financial Corporation $SF

Basswood Capital Management L.L.C. acquired a new stake in shares of Stifel Financial Corporation (NYSE:SF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 104,316 shares of the financial services provider’s stock, valued at approximately $7,278,000. Basswood Capital Management L.L.C. owned 0.07% of Stifel Financial as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Caisse de depot et placement du Quebec bought a new position in shares of Stifel Financial during the 2nd quarter valued at $11,664,000. Man Group plc bought a new stake in shares of Stifel Financial in the second quarter worth $9,862,000. Roberts Glore & Co. Inc. IL bought a new stake in shares of Stifel Financial in the second quarter worth $328,000. Polar Asset Management Partners Inc. purchased a new stake in Stifel Financial during the second quarter valued at $2,422,000. Finally, Jupiter Topco LLC purchased a new stake in Stifel Financial during the second quarter valued at $4,773,000. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Stifel Financial Price Performance

Shares of Stifel Financial stock opened at $80.91 on Thursday. The stock has a market cap of $12.22 billion, a P/E ratio of 14.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.83 and a current ratio of 0.88. The stock’s fifty day moving average is $78.61 and its 200 day moving average is $76.34. Stifel Financial Corporation has a one year low of $67.81 and a one year high of $89.83.

Stifel Financial (NYSE:SF) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.09. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.42 billion. Stifel Financial had a return on equity of 19.22% and a net margin of 16.11%.Stifel Financial’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.71 earnings per share. Sell-side analysts anticipate that Stifel Financial Corporation will post 6.36 earnings per share for the current year.

Stifel Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, September 1st. Stifel Financial’s payout ratio is presently 24.33%.

Insider Buying and Selling at Stifel Financial

In related news, Director Maryam S. Brown sold 4,700 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total transaction of $372,240.00. Following the completion of the transaction, the director directly owned 5,729 shares in the company, valued at approximately $453,736.80. The trade was a 45.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on SF shares. Zacks Research raised Stifel Financial from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 20th. Wall Street Zen lowered shares of Stifel Financial from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Stifel Financial from $80.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Stifel Financial in a report on Friday, May 29th. Finally, UBS Group set a $90.00 target price on shares of Stifel Financial in a research report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Stifel Financial has a consensus rating of “Moderate Buy” and an average target price of $91.90.

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.